@formerguest said in [Politics Super Thread \- keep it all in here](/post/1335796) said:
Must be that media that people choose to see, as I saw plenty of reporting on the incident. Important to note that the 46th president had flags to half mast almost immediately as well.
In local goings on, apart from the vaccination debacle, the way premature end of Jobkeeper for select sectors and regions is kicking in. With children included, a couple of hundred thousand or so are currently joining others to become part of the nearly 10% of our fellow Australians, including hundreds of thousands of children, that have just been cruelly plunged a further $50/week into the abyss of poverty from this month.
With the skewed incentives and general framework of the for profit Job Active system, many will never be able to climb out of it. I had hoped the pandemic would bring forward real change, but as a nation we missed this opportunity.
Further to the US, how great was it to see some real work to alleviate poverty amongst the ***1.9 Trillion relief bill*** that was passed. Together with parts of the next bill proposals, there will be tangible growth and change amongst their communities and across the nation.
The relief bill is a debt millstone around the necks of Americans. More money than has ever been spent in the history of humanity. The bill itself states the 1.9 Trillion will be spent in 8 years but debt recovery (supposedly) will take 15. The debt is going to be paid back with massive tax increases as stated by Biden himself.
Biden knows this is a dog. He knows that it is going to boost inflation, devalue the dollar and make the US less competitive internationally. That is why last week he stated that he is going to pressure the G20 nations at the next G20 conference to try to force a ***GLOBAL*** minimum corporate tax rate to try to legislate for US competitiveness. It is actually disgusting. When he was elected I was concerned that he was just a front for an authoritarian leftist agenda but quieten my concerns that it wouldnt be the case. You cant get more authoritarian that trying to force a socialist New World Order on taxation.
Biden knows that massive increases in US corporate tax will accelerate the exodus of US Multinationals out of the US tax system and by trying to bully the global economy he is trying to stem the tide.
He is doing the same domestically. His proposed new tax changes mean that not all US citizens are taxed equally or fairly federally. The new tax changes make it such that State income taxes are a federal tax deduction. This has the effect that if you are a citizen of a high taxing state, you will pay less federal tax than citizens of lower taxing states. Which states have the highest state taxes? Democrat states. This is firmly targeting to try to stop the mass exodus of wealthy tax payers from out of California and NY.
About time the tax systems globally and as a whole start heading back in the right direction, both individually and collectively.
I cant get onboard with centralised global socialism. How does this fit for developing nations being pegged at high taxation rates due to US incompetence? Capitalism and markets have dragged billions out of poverty, centralised authority, imposed by first world countries will entrench global poverty.
Up to you, but whilst circumstances have changed in recent years, I still continue to be happy paying reasonable taxation, including things like the Medicare surcharge for years on end because I believe in the system.
I have no problem with taxation and I pay more than my share. Medicare is a reasonably good system and Im grateful we have our health care system (I am also glad the US have their health care system but that is an entirely different story).
Your post makes my point. You continue to be happy paying ***reasonable*** taxation. What about if the Australian economy is ticking along well but our corporate taxation rate increases by 20% mandated by global overlords because the US wanted to spend US $2T and as a result you, or someone you care about lose their jobs?
I do not believe the US should be dictating taxation policy to any other nation. They want to cripple themselves through whatever means domestically that is their prerogative.
They are trying to shore up their own position because they know that when they increase corporate tax, multinationals will take their tax dollars elsewhere. Surely the G20 will tell them to get stuffed. I cant see India or China signing up for it. Maybe that is the whole point that when this goes bad Biden can point at the G20?
Probably. None of the other big economies will go for it. Brazil won't, Russia won't, I doubt the UK will.
China and India definitely won't as they are going to be the next two economic superpowers. I can't even see the EU wanting to get on it.