— CTV News (@CTVNews) October 30, 2021
Had a productive day of meetings at the G20 today. The Global Minimum Tax we discussed today is a game changer for American workers, taxpayers, and businesses. I’m looking forward to day two. pic.twitter.com/XCCjP6kiMM
— President Biden (@POTUS) October 30, 2021
President Biden and the other national leaders gathered for the Group of 20 summit formally endorsed a new global minimum tax on Saturday, capping months of negotiations over the groundbreaking tax accord.
The new global minimum tax of 15 percent aims to reverse the decades-long decline in tax rates on corporations across the world, a trend experts say has deprived governments of revenue to fund social spending programs. The deal is a key achievement for Treasury Secretary Janet Yellen, who made an international floor on corporate taxes among the top priorities of her tenure and pushed forcefully for swift action on a deal.
The plan was already endorsed by the finance ministers of each country, but its official approval by the heads of state puts added pressure on the difficult task of turning what remains an aspirational agreement into distinct legislation.
Nearly 140 countries representing more than 90 percent of total global economic output have endorsed the deal, but they each must implement the new standards in a process that could take some time.
This reality is like the worst movie ever. The script is published. Anyone can read it and find out what happens next. But people are so invested in the plot that they don’t want to read the spoilers.
Leaders of the world's 20 biggest economies endorsed a global minimum tax aimed at stopping big business from hiding profits in tax havens, and agreed to get more COVID-19 vaccines to poorer nations https://t.co/k5fKjyoRIE pic.twitter.com/HBwi0Rup7B
— Reuters (@Reuters) October 31, 2021
As we’ve told you for nearly a decade, the entire purpose of the global warming hoax is to establish a global government. We know that, as a matter of fact, because the people who invented this hoax wrote about it, and every other major player involved in the hoax has written about it since.
The first step, as they’ve said and we’ve repeated here, is a global tax. You can’t have a global tax without a global government. You have to pay the money to someone.
It’s mostly about establishing this entity as the world authority. But it’s also going to be used to further crush the middle class. Although that could really be kicking a dead horse at this point.
The Jews are excited!
Today, every G20 head of state endorsed an historic agreement on new int’l tax rules, including a global min tax that will end the damaging race to the bottom on corporate taxation. It’s a critical moment for the US & the global economy. I congratulate @POTUS on this achievement. https://t.co/bOh0O7cbnn
— Secretary Janet Yellen (@SecYellen) October 30, 2021
A G-20 agreement to instate a global corporate minimum tax would be huge. It could really help keep companies and jobs in the US.https://t.co/Qz0zbZ1gTF
— Nick Knudsen 🇺🇸 (@NickKnudsenUS) October 30, 2021
Avg. corporate tax rate globally, 1980: 40%
Avg. corporate tax rate globally, 2020: 23%
We've been witnessing the move toward global extinction of corporate taxation
World leaders in Rome taking 1st steps to reverse that trend w/ new global minimumhttps://t.co/5Kf8JGuTjF
— Jeff Stein (@JStein_WaPo) October 30, 2021
This is a big deal 👏👏👏
"Leaders of the world’s 20 biggest economies (G-20) will endorse an OECD deal on a global minimum corporate tax of 15%." https://t.co/BIKtGLCXZM
— Amy Siskind 🏳️🌈 (@Amy_Siskind) October 30, 2021
Achieving a global minimum corporate tax — to prevent corporations from moving to dodge taxes — has been a goal of the US (and Treasury Secretaries) for many years. Congrats to @SecYellen for doing all the work necessary for @POTUS to deliver this achievement. https://t.co/oVG9Na9yti
— Ronald Klain (@WHCOS) October 30, 2021
Saying that this is going to help normal people is really the epitome of Absolute Kikism.
“Tax dodging” is some fake crisis they just invented out of nowhere. American law allows these corporations to avoid taxes, it’s designed that way because the laws are written by corporate lobbyists. Then the same corporate lobbyists write a law for a global tax ostensibly to tax themselves and –
People are experiencing future shock like never before, and they just can’t really process what’s happening, especially with how fast it’s happening.
Probably a lot of you reading this can’t process that.