Globalist Assault on Tax Competition Rouses Opposition…”a coalition of high-tax governments from around the world is working to erect a radical new planetary taxation regime that would further smother what remains of financial privacy and national sovereignty while seriously harming the global economy.”
by Alex Newman
TheNewAmerican.com
Monday, 13 July 2015
As part of what experts call a war on tax competition and low taxes, a coalition of high-tax governments from around the world is working to erect a radical new planetary taxation regime that would further smother what remains of financial privacy and national sovereignty while seriously harming the global economy. The controversial plot, led by the Organization for Economic Cooperation and Development (OECD) and the G-20 group of governments and dictators, is already encountering opposition from lawmakers, industry, analysts, and liberty-minded non-profit organizations. However, with the Obama Treasury Department and other key players apparently already on board with much of the anti-tax-competition scheming, opponents are warning that Congress must get involved if the plan is to be stopped. Some critics say it is time to end U.S. funding for the “destructive” OECD, too.
The project targeting so-called “Base Erosion and Profit Shifting,” or BEPS, officially aims to extract more taxes from multinational businesses and, ultimately, from consumers, workers, and investors. “BEPS is going to change the landscape of international tax,” said vice president and international tax counsel Carol Doran Klein with the U.S. Council for International Business, which recently hosted a conference on the BEPS schemes in Washington that feautred bureaucrats from the OECD and around the world. “If Congress wants to shape that landscape, they should be paying attention, following the discussions and making their views known. Congress staking out a position soon would be helpful.” So far, the chairmen of the congressional tax committees have sent a letter to Obama’s Treasury outlining some minor concerns, but little concrete action has been taken as the Obama administration and foreign governments plot to impose the draconian new tax rules on the planet.
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