Janet Yellen, Joe Biden’s Secretary of the Treasury, says she wants to force Americans to pay a “minimum global tax.”
Yellen said on Sunday that she wants the U.S. Congress to pass a law forcing American businesses to pay this international tax. And expects it to be hidden inside Biden’s bloated, $3.5 trillion budget plan.
Yellen was asked if she is confident that Biden will force American businesses to pay taxes to foreign powers even if they don’t do business overseas.
“Yes. I am confident that what we need to do to come into compliance with the minimum tax will be included in a reconciliation package. I hope that we, that it will be passed and we will be able to reassure the world that the United States will do its part,” Yellen said, according to Reuters.
A group of 136 countries on Friday set a minimum global tax rate of 15% for big companies and sought to make it harder for them to avoid taxation in a landmark deal that Biden said leveled the playing field.
Treasury officials and tax experts have said that the global minimum tax would not require a treaty to implement and could be achieved in the reconciliation bill because it is a voluntary agreement among countries to individually impose a minimum tax on overseas earnings of corporations.Advertisement - story continues below
The United States has had such a minimum tax since the end of 2017, so it is a matter of raising the rate to conform with the agreement.
Joe Biden and his minions are trying to force Americans to live under the thumb of his international overlords.
Once again, we see that liberals are traitors to America.
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This post has been updated to correct the fact that Yellen is Biden’s Treasury Sec.