{"id":404166,"date":"2021-04-09T15:58:37","date_gmt":"2021-04-09T19:58:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=404166"},"modified":"2021-04-09T15:58:40","modified_gmt":"2021-04-09T19:58:40","slug":"the-lefts-global-tax-proposal-will-crush-business-and-put-america-last","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-lefts-global-tax-proposal-will-crush-business-and-put-america-last\/","title":{"rendered":"The Left\u2019s \u2018Global Tax\u2019 Proposal Will Crush Business And Put America Last"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-lefts-global-tax-proposal-will-crush-business-and-put-america-last%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=404166&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-1147.jpeg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Earlier this week, Biden\u2019s Treasury Secretary, Janet Yellen, argued in favor of a global minimum tax rate for corporations, regardless of their location, in an apparent bid to counter the impact of corporations moving business overseas in response to the Biden administration\u2019s calls to increase corporate tax rates.<\/span><\/p>\n<p><span>\u201cMs. Yellen, in a speech to the Chicago Council on Global Affairs, called for global coordination on an international tax rate that would apply to multinational corporations regardless of where they locate their headquarters,\u201d <\/span><a href=\"https:\/\/www.nytimes.com\/2021\/04\/05\/business\/yellen-global-minimum-corporate-tax-rate.html?smtyp=cur&amp;smid=tw-nytimes\"><span>The New York Times<\/span><\/a><span> reported. \u201cSuch a global tax could help prevent the type of \u2018race to the bottom\u2019 that has been underway, Ms. Yellen said, referring to countries trying to outdo one another by lowering tax rates in order to attract business.\u201d<\/span><\/p>\n<p><span>\u201cCompetitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,\u201d Ms. Yellen <a href=\"https:\/\/www.dailywire.com\/news\/bidens-treasury-secretary-calls-for-globalist-corporate-tax-agreement-looking-to-end-tax-competition\">said<\/a>. \u201cIt 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.\u201d<\/span><\/p>\n<p><span>In reality, nothing Yellen is advocating for has anything to do with promoting competition. Instead, it has everything to do with stifling it, both at home and abroad.<\/span><\/p>\n<p><span>Internationally, Yellen is attempting to leverage the scale of the American economy to bully other countries into capitulating to her demands that they agree not to compete. By raising the corporate tax rate in the United States, Yellen knows that businesses will look to move elsewhere. Rather than reacting to this honestly, the Biden administration is applying an \u201cif I can\u2019t have you, no-one can,\u201d philosophy.<\/span><\/p>\n<p><span>The number of subsequent concerns this raises is beyond worrying. What if one country refuses? What if the world economy suffers as a result? What if smaller countries implode economically, unable to compete? Let alone the concerns of globalism promoted by the mere notion of a \u201cglobal\u201d corporate tax rate.<\/span><\/p>\n<p><span>Domestically, Yellen is openly admitting that the outcome of the Biden administration\u2019s policies will almost certainly spark an exodus of businesses, with the inevitable result being a collapse in job numbers and job opportunities. What\u2019s important to understand here, in addition to the absurdity of the policy in a pure mathematical sense, is that Yellen is forging forward <\/span><i><span>despite<\/span><\/i><span> this unavoidable outcome.<\/span><\/p>\n<p><span>This is a pattern we see time after time when it comes to policies of the Democratic party. \u201cBuy now, fix later.\u201d They introduce a policy, and suggest future policies to help fix the obvious problems they will create, as if such <\/span><i><span>potential<\/span><\/i><span> solutions justify the <\/span><i><span>real<\/span><\/i><span> initial policy being imposed in the first place.<\/span><\/p>\n<p><span>Whether or not the potential solutions are ever applied \u2014 or are even successful \u2014 is irrelevant, because they will have reached their immediate goal.<\/span><\/p>\n<p><span>A goal they\u2019re all too happy to achieve while leaving the \u201cus of tomorrow\u201d to handle the fallout.<\/span><\/p>\n<p><i><span>Ian Haworth is an Editor and Writer for The Daily Wire. Follow him on Twitter at <\/span><\/i><a href=\"https:\/\/twitter.com\/ighaworth\"><i><span>@ighaworth<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n<p><i><span>The views expressed in this piece are the author\u2019s own and do not necessarily represent those of The Daily Wire.<\/span><\/i><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this week, Biden\u2019s Treasury Secretary, Janet Yellen, argued in favor of a global minimum tax rate for corporations, regardless of their location, in an apparent bid to counter the &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2311931,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-1147.jpeg","fifu_image_alt":"The Left\u2019s \u2018Global Tax\u2019 Proposal Will Crush Business And Put America Last","footnotes":""},"categories":[],"tags":[],"class_list":["post-404166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-1147.jpeg","fifu_image_alt":"The Left\u2019s \u2018Global Tax\u2019 Proposal Will Crush Business And Put America Last","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/404166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=404166"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/404166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2311931"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=404166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=404166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=404166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}