Global Tax Code Endangers US Sovereignty, Businesses, and Consumers

Global Tax Policy and Its Effects on US Businesses

The Biden administration actively supports policies that may increase taxes on U.S. corporations, as foreign governments push for extra taxation. This trend raises significant concerns for American consumers and workers, jeopardizing the affordability of goods and services.

Impact on Consumers and Workers

• The additional taxes passed to consumers could lead to significant price hikes.
• Workers might see lower wages as corporations adjust to new tax burdens.

UN’s Role in Global Taxation

As the United Nations steps into the global tax arena, potential implications for U.S. businesses grow more severe. A simple majority could upend existing tax agreements, posing risks to American companies.

Historical Context and Current Dynamics

The transition from the OECD to a UN-centric approach has raised alarms, suggesting a shift towards less favorable conditions for U.S. interests. With external countries eyeing U.S. profits, maintaining control becomes imperative.

Alternatives to Global Tax Codes

To combat the challenges, the U.S. should emphasize bilateral treaties that respect national sovereignty over broad multilateral agreements.