WND: The Biden administration is pushing a misguided 21 percent global corporate minimum tax on American businesses. At the same time, the administration is pushing for a global agreement amongst foreign countries to set a foreign minimum tax rate of 15 percent.
“These have one mind, and shall give their power and strength unto the beast.” Revelation 17:23
This is a terrible idea that, if successful, will surrender U.S. sovereignty to foreign leaders in Russia, China, Saudi Arabia, and the European Union in order to bind the world into higher taxes and bigger government.
Fortunately, the proposal requires the sign off of lawmakers in Congress. Democrats and Republicans alike should reject this proposal and stand with American taxpayers. Rather than signing off on this reckless proposal by voting for Biden’s tax hikes, lawmakers should be focused on policies that help American businesses and workers and strengthen innovation, manufacturing, and intellectual property in the U.S.
The Biden administration, led by Secretary Yellen, is pushing the flawed narrative that we need a global agreement locking in high taxes in order to “end the race to the bottom” and “make all citizens fairly share the burden of financing government. Read More