Minimum Global Tax for Corporations Suggested by Biden Advisor

…it sounds more recognizing that the Biden hike would price us out of the market so we want to change the market. The question is why other countries would agree when some are already discussing lowering their rates…

— Jonathan Turley (@JonathanTurley) May 2, 2021

…Past efforts like the Global Intangible Low Taxed Income (GILTI) have not been encouraging. This would replace that effort with a flat rate but many countries are likely to balk, particularly when they would have to substantially increase their own taxes…

— Jonathan Turley (@JonathanTurley) May 2, 2021

…The point is that, before we rely on such revenues, there is ample history to question its likely success, particularly given the complex legal, political, and regulatory differences between these countries.

— Jonathan Turley (@JonathanTurley) May 2, 2021