Adapting With Alex Garrett

Adapt With Alex!

Tag: taxes

Should America Adapt to a Global Minimum Tax?

I know for a fact I am no economist. I do know we are all taxpayers, able-bodied and the disabled community alike. I do know athletes and sports franchises have to pay their taxes as well, which is why any financial news feels worth blogging and even podcasting about.

The frustrating thing about rising taxes is that it deflects from the real issues. Why should the American taxpayer feel the brunt of a disrupted supply chain when those costs should be foisted on the companies who have been slowed up and yes even China. China of course led the disinformation campaign on COVID-19 yet we have not asked them to pay their fair share for the deaths and destruction and loss of income.

Yet, the G20 could be adopting an Accord that will be asking 136 countries to impose a MINIMUM 15% tax on profits made by companies making over 150 BILLION DOLLARS. Sounds like a fair share, right? What if , I mean what if countries taxed them beyond just 15%, say 25% ? Possibilities are endless when it comes to taxing companies at a minimum. You can read more on this through Reuters (https://www.reuters.com/business/oecd-says-deal-global-minimum-corporate-tax-rate-has-been-reached-2021-10-08/)

I admit I like the idea of discouraging corporate inversion , which according to Reuters this minimum tax would do , “many governments want more than ever to discourage multinationals from shifting profits – and tax revenues – to low-tax countries regardless of where their sales are made.” Yet, the idea that this will just hit big corporations feels like a farce. I could see hard working American small business owners who have a company that works around the world being hit with this .

Anything ‘Global’ isn’t for the American, I heartily believe that! We aren’t the Global States of America ! We are the United States of America who help out around the globe where and when needed.

Our government should not pre-occupy ourselves with this kind of foreign affairs. We need to figure out a way to keep from our companies being hacked and work to fix this supply chain without paying a ransom! Stop using COVID as a way to tax us , America !

Americans won’t let the government wear us down completely! We have a first amendment to speak out and a ballot box to fill!

America’s destiny remains in the voter’s hands, I do believe that!

Raising Taxes WON’T Kill the Debt!

In 2016, I was against the 33,000 deleted e-mails because I believe Hillary Clinton’s e-mail scandal in fact dealt with impact of four American soldiers’ lives and their families killed by terrorists in Benghazi. The e-mail scandal of Hunter Biden isn’t my focus this time around. I am feeling the policy research more-so four years later, maybe a sign of maturity?

We now have PROOF Biden would like to tax the hell out of Americans. According to the Washington Examiner, the Tax Policy Center has concluded that Joe Biden’s tax plan would be added up to two trillion dollars in taxes. (https://www.washingtonexaminer.com/news/biden-plan-would-hike-taxes-2-4-trillion-over-a-decade-socking-it-to-corporations-and-the-wealthy-analysis-finds) Paul Bedard, also of the DC Examiner , notes the James Madison Institute found Biden’s plan to cost $36 TRILLION, 3 trillion alone by eliminating President Trump’s tax cuts! (https://www.washingtonexaminer.com/washington-secrets/bidens-agenda-to-cost-36-trillion-up-to-49-000-per-family-study)

While that is a BIG jump, my first question about these proposal studies deal with debt. We have a climbing debt that is between 22 and 23 trillion dollars. Does Joe Biden ‘s plan mean he wants to lower the debt by taxing us or simply use the Office of the President to tax us as much as possible? I don’t believe you can kill the debt by taxing Americans, especially amidst a business-killing pandemic!

I believe paying taxes is essential to the American way, but not collectively paying trillions of dollars to the government if it comes off as the government just wanting our money to fund programs the average American may not want to support. Secondly, to try and impose this plan on hard-working business owners would outright SINK the small businesses barely surviving and kill the entrepreneurial spirit DESPERATELY needed to combat the unemployment, business closures and even depression/suicide rates that are riddling America right now.

I find it incredible the Dems’ always obsess about taxing its own people, but never want to ask allies to pay their fair share. As I am writing this, it hits me. Other countries are so much more important to be allies with than be allies with the American people! I’m also not advocating let’s completely ruin our relationships we need to have across the world. However, that is the way we kill the debt, by not taking on OTHER people’s paychecks just because we are America.

I do find it amazing, the same people that say tax the one percent and take money from wealthy Americans are the ones forgiving fraudulent medicaid, social security, and even welfare transactions. They also applaud giving out stimulus after stimulus, because they also lick their chops ready to take it back through exorbitant taxes. We MUST not let the Government make us independent on them for income the rest of our lives!

Yes we are a gateway for everyone, at home and globally. We must start by asking our politicians to remember the best gateway to keep America strong is through American towns and cities that are the lifeblood of the country, that allow us to hand out money to our allies in need. The minute you ask for more to deplete the lifeblood is the minute we truly are weakened from the inside!