The Big Fake - Why The G7 "Historic" Tax Agreement Is Nothing But Hoax.
G-7 nations reach historic deal on global tax reform. Under the agreement, G-7 nations will back a global minimum corporate tax of at least 15%, U.K. Finance Minister Rishi Sunak announced in a series of tweets. The reforms will affect the largest companies in the world with profit margins of at least 10%. U.S. Treasury Secretary Janet Yellen, who is in London for the face-to-face meeting, hailed the move as significant and unprecedented.
Get 10% Off The TipRanks Ultimate Plan Here - Affiliate Link:
https://www.tipranks.com/verify-purchase?sku=3256820&custom2=affiliate&custom3=TomNash&utm_source=TomNash&utm_medium=affiliate&coupon=TOMNASH&affiliates=TomNash
πŸ‘πŸ‘πŸ‘ Big shout out to our growing list of Patreons. For those of you want (and can) support our channel, here is how you can help: https://www.patreon.com/user?u=13016082
You can now book a live 1X1 call with me via Clarity here: https://clarity.fm/tomnashv2
I do not have a position in Redfin.
Here is a link to the article I am talking about in the video:
https://prospect.org/power/gamestop-mess-exposes-the-naked-short-selling-scam/
DISCLAIMER: All of Tom's trades, strategies, and news coverage are based on his own opinions alone and are only done for entertainment purposes. If you are watching To'ms videos, please Don't take any of this content as guidance for buying or selling any type of investment or security. Tom Nash is not a financial advisor and anything said on this YouTube channel should not be seen as financial advice. Tom is merely sharing his own personal opinion. Your own results in the stock market or with any type of investment may not be typical and may vary from person to person. Please keep in mind that there are a lot of risks associated with investing in the stock market so do your own research and due diligence before making any investment decisions.

To 도미노 λ©΄μ±… 슀 leica me how i could we were her own μ•ˆ woo won woo wee in eastern owa tower, where there 뭐 to peer peer, μžˆμŠ΅λ‹ˆλ‹€, λΈŒλžœλ“œ, λ„€νŒŒ, leger, on sale, 볡사근, λœ¨μ§€, μž‘μ€, heroic owner now, μ–΄μ΄ˆ o μ—†μ„κΉŒλ΄ λͺ¨νžˆμΉΈ there to other site icon Awards winced λŠλΌλŠ” μ˜†μ— 4 뭐 λ„€, μ•„, μŠ€ν‚¨λ ˆμŠ€, 도λͺ¨ top-down λ‚΄μ˜, λΆ„μ•ΌλŠ”, λ‚˜μœ, drc, 개ꡬ리, 토끼, λ°”, λ³€, oye, rpg, ν•œ λ²ˆλ„ conversation and in der wale 딴건 쌈λ°₯이 μžˆμ–΄ wor anatomy won per 폭λ ₯ λͺ¨λ² μ΄μŠ€ μ΄λ ‡κ²Œ λμ–΄μš” 4 wo. U o m won woo, who now on? We hope to wet oslo μ—†μš” 톑 ν•˜λŠ”, zero λΌμš΄λ“œ 였브 파이 속에, λ¬Άμ–΄ 3.5 entertainment, 뭐, 일단, ν‹°μ˜, λ‚΄, toroidal power. You woo order code. I want our own own, however, you want our own or we here to route it would come over outer μ’‹μ•„μš” 쀘 were the outer core i5 erwin soo ν•΄λͺ½.

We out on her own one 것이 μ»΄νŒŒμΌν•  good girl, ooh ooh, how he μžˆμŠ΅λ‹ˆλ‹€ μ΄λ ‡κ²Œ 또 μ§­λ‹ˆλ‹€. We too, who ran on here you out when a hotel room where two rhodes town λͺ¨λ“  학생, the wind, μ‹œλ‚΄ λͺ¨λ₯΄μ£  κ·Έλž˜μ„œ, you stop λͺ»ν•œ power or die to peer μ’€ on how how i feel μΊ„, 아웃 or serious λ°˜ν•œ hero, κ·Έλƒ₯, λ‚΄κ°€, 맛, 있, μ–΄, 뭐, λ”œλ„ 리얼 d, coma 뭐 rm 4 se μ•Œμ•„λ„ λŠ¦μ§€, μ•Šμ•˜λ‚˜, *, free solder, κ°€, μžˆμ–΄, 맛이, λ³΄μ‹œλŠ”, x, λ””μ˜€.

By Stock Chat

where the coffee is hot and so is the chat

25 thoughts on “The g7 global minimum corporate tax agreement – my thoughts”
  1. Avataaar/Circle Created with python_avatars Marian Hanganu says:

    Look, if you are a country less developed, you cannot compete with the G7 in terms of infrastructure, workforce productivity and usually on business environment. Then you have two ways to attract corporations: tax incentives and cheap labor force. Cheap labor force is an advantage that you just want to lose, as your country gets foreign investment, your people acquire knowledge and know how. It is how a country leaves the poverty trap. The second one is tax incentives. The rich want to take to the poor one of their means of competing for investment. I am sure they are already plotting how to get it back with national rules on accounting, shadow corporations, free trade areas, etc.

  2. Avataaar/Circle Created with python_avatars Paul Prejean says:

    Main take away is the use of tax havens will be penalized under the plan. Below is a complete breakdown of what's happening.

    VENICE β€” The world’s top economic leaders convened on Friday to hash out crucial details of what would be the largest overhaul of the international tax system in a century, kicking off a three-month race to finish a deal by the end of the year.

    Gathering in Venice, an ancient hub of international commerce, finance ministers from the Group of 20 nations are pressing ahead with plans to put an end to global tax havens and force multinational corporations to pay an appropriate share of tax wherever they operate. The negotiations, which could have sweeping ramifications for the finances of global businesses, have been sputtering along for much of the last decade and are entering what officials hope to be the final stretch.

    β€œA few big weeks and months are ahead,” said Pascal Saint-Amans, director of the center for tax policy and administration at the Organization for Economic Cooperation and Development, which is overseeing the talks, in a brief interview ahead of the summit.

    The meetings follow a breakthrough in the negotiations last week, when 130 countries backed a conceptual framework for the new tax plan. The blueprint includes a global minimum tax of at least 15 percent that each country would adopt and new rules that would force technology giants like Amazon and Facebook and other big global businesses to pay taxes in countries where their goods or services are sold, even if they have no physical presence there.

    On Friday, Peru, which did not initially join the O.E.C.D. agreement, signed on, a person familiar with the negotiations said, bringing the number to 131 countries backing the blueprint.

    The changes to the world’s tax system would generate an additional $150 billion of global tax revenue per year, the O.E.C.D. estimates, and shift taxing rights of over $100 billion in profits to different countries. Officials hope to complete a deal by October, when the leaders of the G20 countries return to Italy for the last summit of the year.

    The stakes to meet that deadline are high, particularly for the United States. President Biden has tied his proposal to raise the corporate tax rate in the United States to 28 percent from 21 percent to a global minimum tax, saying it would dissuade companies from simply moving operations offshore.

    The agreement is also intended to put an end to a cascade of digital services taxes that many countries around the world, including Britain, France and Italy, are adopting to capture more tax revenue from American technology companies. The United States has called those taxes discriminatory, and the Biden administration has approved retaliatory tariffs on wine, cheese, clothing and other products from those countries that could go into effect this year if a deal is not reached.

    The United States wants European countries to drop their digital services taxes immediately, but policymakers have suggested that they could remain in place until a new agreement is fully enacted, which could take years.

    The European Union is also pressing ahead with a new digital tax even as the O.E.C.D. talks proceed. Janet L. Yellen, the Treasury secretary, is expected to urge her European Union counterparts to delay such a move when she visits Belgium next week at the conclusion of her two-country trip.

    Policymakers must also agree on the exact rate that global companies would face. The United States and France would like the global tax to be higher than 15 percent. Bruno Le Maire, France’s finance minister, said on Friday that he would push for that amount as a minimum.

    β€œThis must be a groundbreaking agreement,” Mr. Le Maire told reporters in Venice. β€œThat is why France is going to advocate for a global minimum corporate tax of higher than 15 percent, because this is the first time we can really put an end to the race to the bottom on international taxation, which is clearly a dead end for all of us.”

    Mr. Le Maire did not specify what rate France would seek. The country has one of the highest standard corporate tax rates in Europe, at 33.5 percent, although the effective rate that companies pay is much lower.

    Raising the minimum tax above the Biden administration’s proposed 15 percent rate would allow the creation of β€œnew funding for the fight against climate change,” Mr. Le Maire said. β€œSo I’m confident that even if there are some different views among G20 member states we can reach an agreement.” He added that France would put β€œall our pressure, all of our impetus to get this breakthrough.”

    Yet some countries with low tax rates, like Ireland, have not agreed to sign on to the tax at all, which could undercut the overall effort to end tax havens.

    Policymakers say they are confident that Ireland and other holdouts will come along voluntarily. But the agreement does include measures to increase pressure on those countries. Its goal is to deprive those holdout nations of the tax revenue gained from lowering their rates to attract multinational companies β€” by reducing the tax advantages those companies enjoy from setting up their headquarters in tax havens.

    Mr. Biden has proposed such an enforcement measure as part of his tax plan to fund his $4 trillion economic agenda. It would effectively raise U.S. taxes on corporations that have headquarters in tax havens but do business in America, if their home countries have not signed on to the O.E.C.D. minimum tax or raised their corporate rates to meet the minimum.

    Under current law, companies with headquarters in low-tax countries can move some of their profits earned by subsidiaries in the United States and send them back to headquarters as payments for things like the use of intellectual property, then deduct those payments from their American income taxes. The Biden plan would disallow those deductions for companies based in low-tax countries.

    Like other parts of Mr. Biden’s plan, that provision will require congressional approval, which is not guaranteed. Business groups have mobilized to oppose all of Mr. Biden’s plans to raise taxes on corporations.

    through Congress β€” something he acknowledged was not guaranteed. Republican lawmakers have expressed some skepticism about the global minimum tax, in part because they see it as a stalking horse for the Biden administration to raise the U.S. corporate tax rate.

    Treasury officials have expressed confidence that the global tax can pass muster in the United States. But officials have not made clear whether the White House believes it needs to gain the support of reluctant Republicans or if it can push the tax changes through Congress only with votes from Democrats. Representative Kevin Brady of Texas, the top Republican on the Ways and Means Committee, told reporters this week that he believed the Biden administration’s proposed tax overhaul would be dead on arrival in Congress.

    β€œI think first, this is an economic surrender that other countries are glad to go along with, as long as America is making itself that uncompetitive,” Mr. Brady said. β€œAnd secondly, I think there are too many competing interests here for them to finalize a deal that would be agreeable to Congress.”

    Other nations must also determine how to turn their commitments into domestic law.

    The mechanics of changing how the largest and most profitable companies are taxed, and of making exceptions for financial services, oil and gas businesses, will be central to the discussions. There are already concerns that carve-outs could lead to new tax loopholes.

    Ms. Yellen, who is making her second international trip as Treasury secretary, will be holding bilateral meetings with many of her counterparts, including officials from Saudi Arabia, Japan, Turkey and Argentina. China, which signed on to the global minimum tax framework, is not expected to send officials to the gathering of finance ministers and central bank governors, so there will be no discussions between the world’s two largest economic powers.

    Mr. Saint-Amans expressed optimism about the trajectory of the tax negotiations, which were on life support during the final year of the Trump administration, and attributed that largely to the new diplomatic approach from the United States.

    β€œIt took a U.S. election, and some work at the O.E.C.D.,” he said.

    During the panel discussion on tax and climate change, Ms. Yellen’s counterparts said they appreciated the spirit of cooperation from the United States.

    Chrystia Freeland, Canada’s deputy prime minister and finance minister, said having the United States back at the table working to combat climate change was β€œwelcome” and β€œtransformative.” Mr. Le Maire thanked the Biden administration for rejoining the Paris Agreement.

    β€œThe U.S. is back,” he said.

  3. Avataaar/Circle Created with python_avatars Terrence Greene says:

    Thanks Tom, appreciate you keeping it real. I wonder what promises were made by the US to get the G7 β€œpartners” to sign on to this BS.

  4. Avataaar/Circle Created with python_avatars Clinton Power says:

    Nice video!!! Very engaging from the beginning to end.nevertheless business and investment are the easiest way to make money irrespective of which part you came from.

  5. Avataaar/Circle Created with python_avatars Kelvyn Jones says:

    Rishi Sunak 'is pushing for the City of London to be excluded from new global tax crackdown' despite leading G7 efforts to make big firms pay more …. could not make this up.. lol

  6. Avataaar/Circle Created with python_avatars Tony Igwe says:

    I would like to believe that you're trying to enlighten; but you just raised other issues that are missing the point of the effort.

  7. Avataaar/Circle Created with python_avatars C C says:

    They can collect taxes from whomever they want and they still will not create equality in these poor dirt countries. Why? Because these poor dirt governments are going to continue to steal the money that goes to them. Stop acting like these countries have not been getting free hand outs all of these years and it has not helped one bit. The people are still poor. There are still no roads and no schools and no industries. So, honestly I am tired of hearing about it. Face it, there are always going to be rich people and poor people.

  8. Avataaar/Circle Created with python_avatars Nate Silver says:

    Tom you are the freaking man, you tell it how it is, and we appreciate it a lot. Enjoy all your videos so entertaining bro. Keep it up my mannnn

  9. Avataaar/Circle Created with python_avatars Ishy J says:

    I always thought β€œthey need to pay more blah blah blah” but with all this beautiful content you keep pushing about financials of all types has helped me understand that what I originally thought isn’t the way it needs to be done. Thank you for educating me so much, I appreciate everything you have been doing.

  10. Avataaar/Circle Created with python_avatars gearzone2611 says:

    G7: I hope the people feel better about this proposed tax on corporate.
    Meanwhile the Fed: Let us print more funny money.

  11. Avataaar/Circle Created with python_avatars Wey Cool says:

    The key is not G7 but the rest of the countries to sign on so global mega companies can't hide their head offices to avoid taxation.

  12. Avataaar/Circle Created with python_avatars Amanda Corny says:

    Elon probably posting the best tweet of his life tomorrow to get cryptos back up. The dip is just an opportunity to get more cryptos

  13. Avataaar/Circle Created with python_avatars Paul Docton says:

    I don't know who needs to hear this , you've got to stop saving your money. Invest some part of it .if you really want financial freedom

  14. Avataaar/Circle Created with python_avatars Sameh Abuerreish says:

    So in a way you are trying to say they are reducing the corporate tax rate .
    By the way ,
    Other countries do not have IRS.
    So overseas 30% still beats USA 21%
    Why? Because you get away with Tax evasion overseas a lot easier than in the USA. Remember IRS man!

  15. Avataaar/Circle Created with python_avatars Steve Anderson says:

    Wouldn’t this be aimed at places like Singapore or Ireland that are seen as tax havens for Facebook and Amazon

  16. Avataaar/Circle Created with python_avatars Ahmed Kachkach says:

    Bit disappointed about this video, Tom.
    1) this won't only apply to the G7 countries, and will in practice be forced on other countries (as they'll otherwise be taxed externally). For example Switzerland just said their tax havens (like Zug) might be at risk because of this decision.
    2) they are talking about effective tax rates. Ofc just a 15% tax on paper with a 15% deduction won't cut it.

  17. Avataaar/Circle Created with python_avatars Brett G. says:

    I also just think they are trying to get an easy yes vote to get the ball rolling. I would think it would be a lot easier to incrementally raise the bar over time once it's already implement by all these country. Backing countries into a corner, one little minimum tax rate hike at a time, similar to the way we are minimum wage in the states. They always have a plan. πŸ˜”

  18. Avataaar/Circle Created with python_avatars Kieran Graham says:

    Just started watching your videos. I like it it's refreshing to just get an unbiased opinion and truth. Everybody should be listening to you. In fact you should have a main stream show let everyone here. But that could never happen I'm sure. Never be allowed by people running the world

  19. Avataaar/Circle Created with python_avatars Giuseppe Basile says:

    I allegedly disagree and this is the first time. So far these giants have paid taxes in the countries where they have incorporated. In Europe this has been Ireland and The Netherlands were these dudes have paid 6-10% of taxes so far. It seems to me that one of the principles that has passed is that now the dudes will pay taxes in the countries where they actually conduct business and generate revenues. 15% instead of nothing (talking about Italy where I live) looks good to me. I am not an expert and my argument may be faulty but Italy never charged Taxes for 24% to Google, Facebook or Microsoft. i will settle for 15% for now. Please pass by the cashier, thanks, allegedly… πŸ˜‚πŸ€£

  20. Avataaar/Circle Created with python_avatars Kevin Roberts says:

    Please Warn investors in Citadel that the house is on fire. When Citadel goes BK they will take all the shareholders with them.

    Everyone get their relatives out of Citadel

    Make youtube videos warning investors to get their money out of Citadel before the squeeze.

    They will also have less access to the REPO market

    Get this out ASAP

    Nobody wants to get Rich and have relatives go broke

  21. Avataaar/Circle Created with python_avatars Nick Lemonis says:

    I think it's a good first step… basically it is a big fu to the countries who incentivise companies to register there in order to avoid paying any corporate taxes, it can be followed by a decision like "if your tax base is in a country that is not part of this agreement you are banned from doing business with us" that could be pretty effective I think!

  22. Avataaar/Circle Created with python_avatars usayeed727 says:

    Whenever Janet Yellen makes a statement, it makes my eyes roll. She once said, as the chair of the Federal Reserve, that the Fed is working for Main Street and not Wall Street and supposedly represents the little guy lol. These publicity stunts makes me sick.

  23. Avataaar/Circle Created with python_avatars Michael Burba says:

    15% tax to move money out, than hit again when the money comes back would disincentives money movement/velocity on a global scale.

  24. Avataaar/Circle Created with python_avatars Shaq says:

    Lol, global minimum tax of 15% but locally you are gonna set it to 28%. What a f'ing head scratcher…

  25. Avataaar/Circle Created with python_avatars Tom Nash says:

    Things I’m not saying in this video: I’m not saying taxation is bad I’m not saying anything political I’m just saying that if you want to increase the burden of tax on corporations this is not the way and this is not gonna work

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.