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 -


Mississippi’s GOP Leaders Fight for Pro-Life Law at Supreme Court

(Headline USA) Mississippi Agriculture Commissioner Andy Gipson is asking the U.S. Supreme Court to uphold abortion restrictions that he helped put into state law. Gipson...

Texas Democrats Cry Racism as GOP Draws New Congressional Maps

(Headline USA) Texas Republicans on Saturday night closed in on redrawn U.S. House maps following the results from the 2020 census. In a key late-night...

Cities Use Federal ‘COVID’ Money to Pad General Fund & Finish Luxury Projects

(Headline USA) At the Loma Verde Recreation Center south of San Diego, demolition work is underway on a $24 million project that will rebuild...

Biden Claims ‘Democracy Survived’ 1/6 Uprising, Credits Police State

(Headline USA) While many would beg to differ, President Joe Biden claimed on Saturday that American democracy was alive and well during a tribute...

Pelosi Demands More Cheerleading from Media

The hard-left mainstream media has made it shamelessly clear it has no problem carrying the water to advance Democrats’ radical agendas. But the cheerleading needs...

University Offers to Rehire Prof Acquitted of Ties to China

(Associated Press) The University of Tennessee at Knoxville has offered to reinstate a professor who was acquitted of federal charges that had accused him...

COMPLAINT: Psaki Broke Ethics Rule by Plugging Va. Candidate for Gov.

For Virginia's Democrat gubernatorial candidate, Terry McAuliffe, things have come full circle. The one-time Clinton bundler was the subject of a litany of ethical complaints...

MURDOCK: Racist Social Agenda Buried in Dems’ So-Called Budget Bill

(Deroy Murdock, Headline USA) President Joe Biden’s Build Back Better Act should be rechristened the Build Bigotry Better Act and then buried in a...

Rogan Gets CNN Pundit to Admit Network Lied About Ivermectin

Popular podcast host Joe Rogan forced CNN’s chief medical correspondent, Sanjay Gupta, to admit that the network falsely claimed Rogan took “horse dewormer” as...
- Advertisement -