404
G20 agrees to work to effectively tax the superrich
(www.dw.com)
Yeah I'll believe it when I bloody see it.
The problem, as ever, is game theory. All you need is ONE bad actor to spoil the entire effort. See the panama papers.
If one country has laws that allow billionaires to claim residence or establish a shell corporation and have lower or no income tax and these bastards will all jump at the chance and that tax money will slip through the fingers of everyone playing by the rules.
Laws are great. But what we need is real enforcement by agencies with real teeth. Ban shell corps. Tax overseas transfers aggressively. Treat white collar crime like a real crime with severe penalties.
True, but that’s why groups like G20 exist. They can agree to act as a block. If a “bad actor” decided they wanted to do something like you suggest, the G20 countries could agree on sanctions against that country.
Also, “because someone will figure out a way around it” is not a good reason not to enact a law. Just a reason to make one better.
Oh certainly. I wasn't suggesting not taking steps to improve the situation. But I'm advocating for each country (or perhaps even the G20 itself) establishing a similar set of rules, penalties, and aggressive enforcement. Anything else will leave loopholes and be a half-measure.
Incorrect, the US could unilaterally implement real tax reform and simply bar folks from doing business domestically (or having access to domestic services) and the rich assholes would start paying up really quick... then other countries would have the choice of leaving money on the table and being a tax haven or getting free money.
The real fucking problem is political donations. Countries make less revenue but politicians are getting fat stacks.
I'll believe it when it happens
Dear god what's with the shading on that sign
Now do the corporations.
Good news!
I heavily disagree with the shading on the picture tho, what the hell is that
Must be on purpose, because it's what caught my eye to click on this post lol
It is truly awful
They also agreed to fight climate change. We know how well that turned out.
Watchmen agrees to watch itself.
Stopped short of a broad agreement.
Yeah nothing changes
any country can do it. Require taxes based on their their global earnings/profits and allow them to deduct any taxes they pay to other countries.
Furiously hammers X to doubt
Lol
this post was submitted on 27 Jul 2024
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