Global Tax Code Threatens US Sovereignty

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global tax agreements

The Hill

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Global tax code endangers US sovereignty, businesses

Summary

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76% Informative

Americans are concerned as much as ever about consumer prices and their ability to afford goods and services with their paychecks.

But is anyone seriously proposing that we allow foreign governments to place excess taxes on U.S. corporations that are supposedly “undertaxed” according to a new global tax code that is largely out of US control? The Biden administration has since changed the project to try to force Congress to raise taxes on US companies.

The U.S. should be expanding its network of bilateral treaties (now at just 66) in a manner that promotes American sovereignty.

Increasing tax rates on business activities through multilateral processes and global mandates while incentivizing loopholes encourages inefficiency and corruption.

A global tax code robs citizens of each country of the right to make their own laws.

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semi-formal

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English

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