President Biden’s plan to establish a worldwide minimum corporate now has the support of 130 countries including China and India.
Treasury Secretary Janet Yellen, who has been leading the United States’ effort to have a global minimum tax of at least 15%, made the announcement Thursday when the agreement among the countries was made official, according to CBS News .
Many Americans are taking some of their money out of banks and “woke” retirement accounts and moving to physical precious metals. Contact Ira and he’ll show you how easy it is to move cash, investments, or retirement into PHYSICAL precious metals without the gimmicks or runaround.
“Today’s agreement by 130 countries representing more than 90% of global GDP is a clear sign,” Yellen said. “America will enter a competition that we can win – one judged on the skill of our workers and the strength of our infrastructure. … We have a chance now to build a global and domestic tax system that lets American workers and businesses compete and win in the world economy.”
The two-step, framework plan was coordinated by the Organization of Economic Cooperation and Development. The first part allows countries the right to tax roughly $100 billion in multinational profits on companies that do business within their borders. The second part supports implementing a 15% global minimum tax, which the organization estimates would generate roughly $150 billion a year in revenues.
Read the rest of this story here: justthenews.com