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G7 nations reach historic deal to tax big multinationals


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G7 nations reach historic deal to tax big multinationals Source: Reuters A group of the world's richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by

Yeah and the poor and lower class will suffer under higher costs of goods   Way to go leftists, once again injuring those for whom you pretend to advocate   Assholes  

That's what they say on the right wing radio shows. Corporations have brainwashed you guys into thinking they should pay zero tax. 

1 minute ago, calguy said:

G7 nations reach historic deal to tax big multinationals

Source: Reuters

A group of the world's richest nations reached a landmark deal on Saturday to close cross-border tax loopholes used by some of the world's biggest companies. The Group of Seven said it would back a minimum global corporation tax rate of at least 15%, and put in place measures to ensure taxes were paid in the countries where businesses operate.

"After years of discussion, G7 finance ministers have reached a historic agreement to reform the global tax system to make it fit for the global digital age," British finance minister Rishi Sunak told reporters. The accord, which could form the basis of a global pact next month, is aimed at ending a decades-long "race to the bottom" in which countries have competed to attract corporate giants with ultra-low tax rates and exemptions.

Read more: https://www.reuters.com/business/g7-nations-near-historic-deal-taxing-multinationals-2021-06-05/

Wtf?

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8 minutes ago, SixShooter said:

Yeah and the poor and lower class will suffer under higher costs of goods

 

Way to go leftists, once again injuring those for whom you pretend to advocate

 

Assholes

 

That's what they say on the right wing radio shows. Corporations have brainwashed you guys into thinking they should pay zero tax. 

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6 minutes ago, calguy said:

That's what they say on the right wing radio shows. Corporations have brainwashed you guys into thinking they should pay zero tax. 

 

And that corporations are willing to price themselves out of the market.

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5 minutes ago, calguy said:

That's what they say on the right wing radio shows. Corporations have brainwashed you guys into thinking they should pay zero tax. 

 

Increased cost of operating = increased selling price

 

And they do not pay zero tax. That's what your LWNJ cable shows have brainwashed you to believe

 

Who will suffer more under higher cost of goods? The lower classes or the upper classes?

 

 

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Just now, Toldya said:

And that corporations are willing to price themselves out of the market.

 

Hey there's the liar toldya here to proclaim I never engage in sincere debate, in a thread where I am the ONLY conservative sincerely debating

 

LMFAO 😂

 

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11 minutes ago, calguy said:

That's what they say on the right wing radio shows. Corporations have brainwashed you guys into thinking they should pay zero tax. 

Corporations always pass any added costs on to the consumer at the end of the day... and a "tax increase" is just an added cost.

 

The corporations are simply a vehicle to squeeze more money out of the consumer.

 

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24 minutes ago, rippy38 said:

Corporations always pass any added costs on to the consumer at the end of the day... and a "tax increase" is just an added cost.

 

The corporations are simply a vehicle to squeeze more money out of the consumer.

 

Yes, I've heard Sean Hannity explain that many times. It's not surprising that you've swallowed it all and made it part of your belief system. That's why he and others repeat the propaganda over and over and over again. 

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2 minutes ago, calguy said:

Yes, I've heard Sean Hannity explain that many times. It's not surprising that you've swallowed it all and made it part of your belief system. That's why he and others repeat the propaganda over and over and over again. 

It's not propaganda... it's just the way businesses work.

 

Common sense cal... try it sometime.

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Corporations aren't people and shouldn't pay income tax. Whenever a person takes profit out of the corporation in the form of cap gains or wages they pay income tax.

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If I own a chicken joint, and the price of chicken goes up, what do I do to maintain my profit margins?

 

Raise my menu prices or cut my labor costs.

 

If I am working on a 10% profit margin and the Govt decides to take 2% of that margin through a tax increase, how do I maintain my profits?

 

Duh...

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Just now, Michaelf said:

Corporations aren't people and shouldn't pay income tax. Whenever a person takes profit out of the corporation in the form of cap gains or wages they pay income tax.

The brain washing has taken its toll. 

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Just now, rippy38 said:

If I own a chicken joint, and the price of chicken goes up, what do I do to maintain my profit margins?

 

Raise my menu prices.

 

If I am working on a 10% profit margin and the Govt decides to take 2% of that margin through a tax increase, how do I maintain my margin?

 

Duh...

The chicken joint has to pay taxes while the corporate restaurant chains who pay little or no taxes come in and drive the the chicken joint out of business because the chicken joint can no longer compete.

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37 minutes ago, Toldya said:

 

And that corporations are willing to price themselves out of the market.

The way it happens is that when profit or the prospect of profit sinks to an unacceptable level the corporation just sells off that business.

 

I worked in automotive controls for many years and as cafe standards squeezed the auto manufacturers and the auto manufacturers and unions squeezed us the corporation just repackaged the business, moved much of it out of the country and sold it off. I saw hundreds and hundreds of people lose their jobs. It took 5 or 6 plant moves across the boarder but eventually I was one of them..

 

So you're right...they don't price themselves out of the market. They just get out of the market. Many corporations are in many different businesses and they're always moving in and out of businesses.

 

The freedom hating countries just insured that working people will pay more for products and earn less at their jobs. Only shit bags like the Bidens and Clintons will come out ahead.

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9 minutes ago, calguy said:

The brain washing has taken its toll. 

Those government aren't going to give any of that money to you.

 

I don't know about you but I have at various times been successful at getting corporations to pass quit a bit of money my way. They treated me pretty good over the years. By contrast the government just TAKES and TAKES! All while those in government live like rock stars! The brainwashing has worked and you're it!

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What happens when a business really looks ugly and a corporation wants out? In a healthy environment, somebody who thinks they can do better takes over and runs with it. That can be a good thing.

 

These days it's not too uncommon for an investment firm to buy it, milk it for everything it's worth with no regard for the future of the business or the people and dump it.

 

That's the way of the left!

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3 minutes ago, rippy38 said:

Yes... just look at who is in the White House.

When people who dare to call themselves "liberals" vote for a swamp creature like Biden it's proof that the zombie apocalypse is upon us.

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3 minutes ago, Michaelf said:

When people who dare to call themselves "liberals" vote for a swamp creature like Biden it's proof that the zombie apocalypse is upon us.

Today's leftists are not liberal.

 

Not even close.

 

 

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21 minutes ago, Michaelf said:

The way it happens is that when profit or the prospect of profit sinks to an unacceptable level the corporation just sells off that business.

 

I worked in automotive controls for many years and as cafe standards squeezed the auto manufacturers and the auto manufacturers and unions squeezed us the corporation just repackaged the business, moved much of it out of the country and sold it off. I saw hundreds and hundreds of people lose their jobs. It took 5 or 6 plant moves across the boarder but eventually I was one of them..

 

So you're right...they don't price themselves out of the market. They just get out of the market. Many corporations are in many different businesses and they're always moving in and out of businesses.

 

The freedom hating countries just insured that working people will pay more for products and earn less at their jobs. Only shit bags like the Bidens and Clintons will come out ahead.

 

They would go abroad for labor even if their taxes were zero and American workers were earning minimum wage... the lax environmental standards and lack of human rights protections are enough to make it a better deal. 

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