Global Tax Code Poses Serious Risks to U.S. Sovereignty and Business Operations

The Growing Threat of Global Tax Codes

The global tax code raises significant concerns about U.S. sovereignty and its impact on businesses. The Biden administration is encouraging foreign governments to impose additional taxes on U.S. corporations, a burden that will ultimately fall on workers and consumers through increased prices.

Potential Violations of Trade Agreements

The UN is advocating for a global tax system that could violate existing trade agreements. Corporations are alarmed as these changes could lead to higher costs and could exacerbate challenges for American companies trying to operate in this increasingly hostile environment.

• Foreign taxes can significantly impact the profitability of U.S. corporations.
• Workers and consumers will shoulder the burden of increased corporate taxes.
• UN decisions could undermine existing protections against discriminatory taxation.

OECD's Role in Global Taxation

The Organization for Economic Co-operation and Development (OECD) initially aimed to combat tax avoidance but has shifted towards establishing a global tax code that disadvantages U.S. interests. This process has paved the way for greater control by foreign governments over U.S. tax obligations.

Americans must be aware of how these global policies can erode their economic foundations and what measures could be taken to protect U.S. sovereignty.