Treasury Secretary Janet Yellen Wants ‘Global Minimum Corporate Tax’

'It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods....'

Janet Yellen, President Joe Biden’s Treasury Secretary, expressed the Biden administration’s support for “global minimum corporate tax,” the Associated Press reported.

According to Yellen, the Biden administration would work with the Group of Twenty, a conglomeration of twenty so-called “advanced” nations, to enforce the proposed global taxation.

The Treasury Secretary, who has a zeal for economic management, said that she wants to ensure that foreign nations also have strict tax policies.

“Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,” Yellen said in a virtual speech on Monday. “It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods.”

...article continued below
- Advertisement -

“It is important to work with other countries to end the pressures of tax competition,” she added.

The Biden administration has proposed a corporate tax hike to 28%. The current corporate tax rate is 21%.

On Monday, Biden said that he is “not at all concerned” about higher corporate taxes leading to corporate outsourcing.

Nevertheless, Yellen’s proposed global corporate tax looks to prevent that very thing.

...article continued below
- Advertisement -

Yellen’s tax proposal comes amid increasing domestic expenditures, such as the $1.9 Trillion “COVID relief” package last month.

Despite a growing deficit and domestic poverty created by the lockdowns, the proposal looks to direct U.S. tax dollars to address fraudulent political issues, like climate change.

She also argued that “significant resources will go to the countries most in need.”

As a result, Americans will continue to pay for foreign aid in higher prices and corporate offshoring.

Yellen also seeks to direct the global economy away from fossil fuels and toward what she called “climate-aligned investments” after the U.S. has remained “sitting on the sidelines for four years.”

- Advertisement -


House Dems SHOCKED That Trump Asked DOJ to Declare Stolen Election ‘Corrupt’

(Headline USA) Democrats engaged in a partisan display of political theater on the House Oversight Committee feigned shock and indignation that then-President Donald Trump...

Is Corporate US Media Finally Rejecting ‘Russian Collusion’ Narrative?

(Aaron Mate', RealClearInvestigations) For more than four years, Western media outlets have exhaustively claimed that President Vladimir Putin of Russia waged a sweeping influence...

Ashli Babbitt’s Mom Was Told Sen. Feinstein Had No Time for Her

The mother of Ashli Babbitt revealed this week that when she called the office of Sen. Dianne Feinstein, D-Calif., office after her daughter was...

Cuomo Begs Employers to Force Return of Workers He Drove Away w/ Lockdowns

Democrat New York Gov. Andrew Cuomo begged employers to bring their employees back to the office by Labor Day, claiming remote work could put...

Grassley Fumes at NIH’s Weak ‘Explanation’ for Wuhan ‘Gain-of-Function’ Research

Sen. Chuck Grassley, R-Iowa, slammed the National Institutes of Health for failing to explain why federal grant money was given to China’s Wuhan Institute...

Freedom Caucus: Cheney, Kinzinger ‘Chose to Leave’ GOP; Pelosi’s ‘Reign’ Must End

Republicans in the House Freedom Caucus are pushing GOP leadership to expel Reps. Adam Kinzinger, R-Ill., and Liz Cheney, R-Wyo., from the conference, arguing...

Justice Dept. Says IRS Must Give Trump Tax Returns to Congress

(Headline USA) The Justice Department, in a reversal from the previous administration, says the Treasury Department must provide the House Ways and Means Committee former...

Taxpayer-Funded NPR Greenlights Its ‘Reporters’ to Be Activists & Protesters

A government-funded media institution borne out of the goal to promote objectivity and prevent media bias has now become one of Marxist cancel-culture's leading...

House Oversight Dems Hold Political-Stunt Hearing w/ Super-Spreading Texas Scofflaws

Impeachment-peddling hack Rep. Jamie Raskin, D-Md., undertook a new crusade to spread disinformation about election-integrity reforms as part of a hearing Thursday for the...
- Advertisement -