Some of the People, All of the Time
International tax is boring, unless you are a tax busting multinational company or a government with an insatiable desire for more money.
But what I am about to share with you, isn’t a tale of tax so much as a step toward global governance by a cabal of greedy governments.
130 countries signed off recently on a global minimum tax rate of 15 percent.
"Good", I can hear many of you saying. "That’s one way to get the bludgers of business to chip in a fair share".
My initial response to that is if corporates fair share is 15% why should any of us pay more than that?
Surely what’s fair for trillion dollar companies is ok for us working stiffs too.
I’ll also point out that the ‘minimum tax’ of 15% is actually higher than the corporate tax rate in Ireland ( it’s 12.5% there) so it’s a step in the wrong direction for some.
But there are two much bigger problems I see. The first is global government collusion.
When so many governments gang together to implement common policy, we:
- Diminish competition and
- We are one step closer to global governance.
That’s long been the aim of groups like the World Economic Forum, the United Nations and a plethora of Marxist political parties like the Greens.
No matter how much you want tax reform, any step in the direction these groups want to take us is the wrong one.
It will entrench power in the unelected bureaucrats – who, with few exceptions, love the power and authority of being in charge of the rest of us.
However, the much bigger problem are the ‘exemptions’ from this agreement – which are still to be nutted out by the bureaucrats,, but there is a pretty good indication of where they will be.
Firstly, international financial firms will likely be let off the hook.
They’re the ones behind the 2008 global financial crisis. The same ones that required hundreds of billions in bailouts but still gave executive bonuses.
I should also point out that the CEO’s of these firms are the ones parking their private jets at places like Davos where they lecture everyone else about global warming and how black lives matter.
It is also likely that there will be exemptions for developing nations, you know like the developing nation that is the second largest economy in the world – China.
We know China is a developing country because the World bank and the United Nations say it is. That’s why they have exemptions to the crazy global warming agreements like the Paris Accord.
It’s little wonder the Chinese communists sign anything that binds the Western world to insane economy destroying policies. It's because they don't apply to them.
And that leads me to how the Western world continues to kowtow to China and their demands.
The last Australian Labor government were among the most acquiescent to the communist nation. The likes of Bob Carr and Kevin Rudd and Sam Dastyari would defend them up hill and down dale.
It wasn’t much better in the Turnbull/Bishop impersonation of a Liberal government.
After letting China militarise the South China Sea with no opposition, they even planned to ratify an extradition agreement with the communist nation that boasts a 99.5% conviction rate.
Fortunately, some of us managed to put a stop to that.
Until recently, there was no mention of the Uyghur genocide and slave labor camps in parliament or the media. No one dared utter a word their continued cyber attacks on our defence department, parliament and corporates.
Instead, prominent former politicians accepted highly paid jobs with Chinese state owned firms to push the communist propaganda. The media did much the same, with buckets of digital ink deployed on how we were always offending china.
Some of the shills even blamed us when Chinese officials posted doctored and highly offensive ‘memes’ about Australian soldiers.
Unfortunately, while the Morrison government has woken up to what the rest of us have known for a very long time, that China are not our friends; the global bureaucracy is still in thrall of the communists cash.
The Chinese are playing us for fools and this most recent tax exemption for the ‘developing’ nation of China proves you really can fool some of the people all of the time.