Sunday, February 09, 2025

Trump's Declaration of Independence From International Taxation by the OECD to prevent a global corporate minimum tax

Good, but dated news! This very important Executive Order on the first day in office by President Trump was surely underreported and it escaped my attention.

Resist the global socialist central planners of the world!

"Among the sweeping executive actions of his first day in office, President Trump delivered a rightful blow to international attempts, stoked by the [46th President] Administration, to encroach on United States tax sovereignty. With a stroke of his pen, Trump made clear that any [46th President] Administration commitments to the scheme of the Organization for Economic Cooperation and Development (OECD) to institute a global tax regime are without legal effect.

Those commitments had been significant. At the heart of this matter is a Global Tax Code developed by the OECD that it claims received sign-off from 147 countries. Apparently, the [46th President] Administration forgot that only Congress may enact America’s laws as specified under our Constitution. ...

America’s Founding Fathers rebelled against taxation without representation. From this vantage point, acceding to the global tax initiative—cloaked in the guise of a “fair” minimum tax—was itself an egregious overreach. Today’s fight against the OECD is now a rejection of imperialism by foreign powers and unaccountable international bureaucrats, whom the [46th President] Administration aided and abetted. ...

The Global Tax Code’s “Pillar One,” which is still being negotiated, would redistribute taxing rights over profits to be based on the location of sales. OECD, threatens that this is the only way the United States can avoid aggressive “digital service taxes” (DSTs) imposed by other OECD countries, which themselves violate our tax and trade agreements. DSTs disproportionately target American companies while benefiting China. ..."

A Declaration of Independence From International Taxation "By rejecting even a ceasefire on the OECD’s Global Tax Code, the U.S. reaffirms its commitment to self-governance and the Constitution."

No comments: