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this post was submitted on 19 Aug 2024
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A global minimum corporate tax rate, you say? Agreed to by 137 countries during the Biden administration even? Neat!
One thing I will mention. GMT above focuses on 15% of profits. It is trivial to manipulate that number. Which is why I am also for...
Openly transparent auditable money
Yeah, but gotta start somewhere right?
Well. Amazon didn't make a profit for a long while. Maybe still not? EBITDA? Idk their current numbers, but I'm assuming there's a lot of Hollywood Accounting happening.
I think closing those types of loopholes is the place we should start. Circling around: these campaign promises are easy to make, hard to keep.
It requires knowledge of accounting, economics, law, tech, politics...few people, if any, have that breadth of knowledge and connections.
I would be impressed with a politician if they had a solid how on these items. Otherwise: talk is cheap.
Congress has access to the brightest economic consultants to navigate everything, that's not a problem. Closing loopholes is a logical next step. Just need to overcome the narrow margins and procedural fuck you manuevers to actually get things done.
I agree, with the caveat that your last sentence is a little hand-wavey. The word "Just" makes it seem easier than it is. People are easily swayed & bought. It's wrong, but it is a thing.
Exactly! Good link