[Newsbot]

Title: Biden to announce $2-trillion infrastructure plan that would transform U.S. economy
Category: Economics
Posted By: DrCaleb
Date: 2021-03-31 06:46:01
Canadian

[DrCaleb]

Reading the details, I think this will be amazing. Jobs, infrastructure - everything a country needs to jump start the economy.

[raydan]

Republicans will hate it.

[DrCaleb]

They hate everything.


Hey, Mikey!

[bootlegga]

This sounds ecellent:

$1:

Biden would undo the signature policy achievement of the Trump administration by lifting the corporate tax rate to 28 per cent from the 21 per cent rate set in a 2017 overhaul.

To keep companies from shifting profits overseas to avoid taxation, a 21 per cent global minimum tax would be imposed. The tax code would also be updated so that companies could not merge with a foreign business and avoid taxes by moving their headquarters to a tax haven. And among other provisions, it would increase IRS audits of corporations.

[rickc]

bootlegga bootlegga:

This sounds ecellent:

$1:

Biden would undo the signature policy achievement of the Trump administration by lifting the corporate tax rate to 28 per cent from the 21 per cent rate set in a 2017 overhaul.

To keep companies from shifting profits overseas to avoid taxation, a 21 per cent global minimum tax would be imposed. The tax code would also be updated so that companies could not merge with a foreign business and avoid taxes by moving their headquarters to a tax haven. And among other provisions, it would increase IRS audits of corporations.

21 percent is still lower than 28 percent. What good is making a 21 percent global tax rate when the U.S. rate is 28 percent? That is not going to stop anyone from leaving. I like the general idea but they need to crunch the numbers here. The global tax rate should be HIGHER than the U.S. rate, not lower.

[Scape]