Yikes: Janet Yellen Is Now Calling for Global Minimum Corporate Tax Rate

(AP Photo/Jacquelyn Martin, File)

We wrote about the Great Reset back in November, that it was a stated goal of the World Economic Forum.

Then in February, we reported how the World Economic Forum proclaimed that ‘Lockdowns Are Quietly Improving Cities Around the World’ in a pretty scary video.

Now there’s another move that’s raising some eyebrows, this time from Treasury Secretary Janet Yellen.

You would think that the Treasury Secretary of the United States would be about wanting to protect free markets. Not so much.

Yellen is now calling for a global minimum corporate tax rate. “Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth, and prosperity.”

From The Hill:

Yellen said that the Biden administration wants to end a global “race-to-the-bottom” on corporate tax rates by working with other countries in the G20 on an agreement for a global minimum tax rate. She said that this effort is important in order to ensure that countries can raise the revenue they need to provide needed public services.

“Competitiveness is about more than how U.S.-headquartered companies fare against other companies in global merger and acquisition bids,” Yellen said. “It is about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.”

So, once again, they want to try to impose/centralize government control essentially on businesses all over the world so that they can continue to jack up taxes on you to support their programs.

But you know what else would happen here? They admit that not every country would sign onto this. I could already tell you what would happen. European countries would sign onto this because they have no trouble taxing their citizens and this would slow our economy and theirs. Guess who wouldn’t sign onto this because their first thoughts are their military and their economy? China. So we would shoot ourselves in the foot and China would be a low tax haven of the world further making companies dependent on them and doing the opposite of the claimed purpose of this move.

It’s monumentally stupid, especially when people are just getting back on their feet after the pandemic lockdowns. But it’s the Biden folks, so don’t expect economic intelligence.