What Happened to the Corporate
Income Tax?
https://www.bloomberg.com/opinion/articles/2021-03-25/corporate-income-taxes-have-been-shrinking-for-decades
https://www.bloomberg.com/opinion/articles/2021-03-25/corporate-income-taxes-have-been-shrinking-for-decades
Dozens of America’s biggest businesses paid no federal income tax — again
https://www.washingtonpost.com/business/2021/04/05/corporations-federal-taxes/
https://www.washingtonpost.com/business/2021/04/05/corporations-federal-taxes/
No Federal Taxes for Dozens of Big, Profitable Companies
https://www.nytimes.com/2021/04/02/business/economy/zero-corporate-tax.html
https://www.nytimes.com/2021/04/02/business/economy/zero-corporate-tax.html
Related:
Yellen’s Global Tax Plan Is a China Trade War-Level
Fight
https://www.bloomberg.com/opinion/articles/2021-04-06/yellen-s-global-tax-plan-is-on-the-level-of-trump-s-trade-war-with-china
https://www.bloomberg.com/opinion/articles/2021-04-06/yellen-s-global-tax-plan-is-on-the-level-of-trump-s-trade-war-with-china
JANET YELLEN, US TREASURY SECRETARY:
https://home.treasury.gov/news/press-releases/jy0101
“Another consequence of an interconnected world has been a thirty-year race to the bottom on corporate tax rates. Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids. It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government. President Biden’s proposals announced last week call for bold domestic action, including to raise the U.S. minimum tax rate, and renewed international engagement, recognizing that it is important to work with other countries to end the pressures of tax competition and corporate tax base erosion. We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth, and prosperity”.
“Another consequence of an interconnected world has been a thirty-year race to the bottom on corporate tax rates. Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids. It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government. President Biden’s proposals announced last week call for bold domestic action, including to raise the U.S. minimum tax rate, and renewed international engagement, recognizing that it is important to work with other countries to end the pressures of tax competition and corporate tax base erosion. We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth, and prosperity”.
OECD Pillar 2 Provides A Good Model for Biden US
Worldwide Tax
https://www.taxpolicycenter.org/taxvox/oecd-pillar-2-provides-good-model-biden-us-worldwide-tax
https://www.taxpolicycenter.org/taxvox/oecd-pillar-2-provides-good-model-biden-us-worldwide-tax
Biden and Democrats Detail Plans to Raise Taxes on
Multinational Firms
https://www.nytimes.com/2021/04/05/business/raising-taxes-corporations.html
A tech CEO’s guide to taxes
https://www.economist.com/business/2021/01/09/a-tech-ceos-guide-to-taxes
https://www.nytimes.com/2021/04/05/business/raising-taxes-corporations.html
https://www.economist.com/business/2021/01/09/a-tech-ceos-guide-to-taxes
https://www.cbpp.org/research/federal-tax/corporate-rate-increase-would-make-taxes-fairer-help-fund-equitable-recovery
https://www.cato.org/commentary/taxing-corporations-might-be-good-politics-its-still-bad-policy
https://www.wsj.com/articles/a-28-tax-rate-will-cost-companies-but-not-equally-11617615180
‘Trickle-down’ tax cuts make the rich richer but
are of no value to overall economy, study finds
https://www.washingtonpost.com/business/2020/12/23/tax-cuts-rich-trickle-down/
Related:
https://theconversation.com/footing-the-covid-19-bill-economic-case-for-tax-hike-on-wealthy-151945
http://eprints.lse.ac.uk/107919/1/Hope_economic_consequences_of_major_tax_cuts_published.pdf
Related:
https://theconversation.com/footing-the-covid-19-bill-economic-case-for-tax-hike-on-wealthy-151945
http://eprints.lse.ac.uk/107919/1/Hope_economic_consequences_of_major_tax_cuts_published.pdf