Recommendable! Stand with the Celtic Tiger against Big Government! The minimum global corporate tax rate is a dangerous instrument! Tax competition among countries is vital to keep Leviathan in check!
"Under the Biden administration’s leadership, 132 countries, including the twenty most powerful economies in the world, have all agreed to institute a minimum global corporate tax of 15 percent.
The goal of this historic “tax harmonization” initiative is to prevent “tax haven” countries from luring business away from countries with higher tax rates. ...
Ireland has long had a 12.5 percent corporate tax, compared to the United States’ 21 percent and the United Kingdom’s 19 percent. And this relatively low tax rate has drawn Facebook, Apple, Google, Pfizer, and many other corporate giants to set up regional headquarters or manufacturing hubs there instead of in countries with higher tax rates. ...
To understand why, imagine if the US hiked its corporate tax rate from 21 to 28 percent, as Biden wants to do. That would most likely cause even more corporations to flee the US for Ireland’s greener pastures. ...
"We are not in that agreement," Irish Minister for Finance Paschal Donohoe told RTÉ's Morning Ireland. "I am so committed that I decided I could not enter into the agreement."
To understand why, imagine if the US hiked its corporate tax rate from 21 to 28 percent, as Biden wants to do. That would most likely cause even more corporations to flee the US for Ireland’s greener pastures. ...
Policies like “tax harmonization” amount to anti-competitive collusion among governments. They give governments greater monopoly power by leaving citizens with fewer options and escape routes. That also goes for super-state institutions like the EU and US federal government impositions on the states. ..."
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