Yellen calls for a global minimum corporate tax rate

Re:Yellen calls for a global minimum corporate tax rate by asimpletune on Monday April 05, 2021 @08:36PM (#26706593)

Everyone in the country gets x dollars per month/year/whatever to use on whatever they like.

Now a consumption tax is easy and indiscriminate. Everything is taxed at Y% at the cash register.

I think I read somewhere like a 23% tax would be sufficient to offset all income/corporate taxes.

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Re:Yellen calls for a global minimum corporate tax rate by AnimalMuppet on Monday April 05, 2021 @08:37PM (#26706603)

23% is is probably going to ignite a significant black market.

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Re:Yellen calls for a global minimum corporate tax rate by laughingbovine on Tuesday April 06, 2021 @03:11PM (#26716057)

I think a tax system this simple would be similarly simple to audit. Or maybe you would calculate your consumption tax at the end of the year, and then it wouldn't matter who you buy from.

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Re:Yellen calls for a global minimum corporate tax rate by AnimalMuppet on Tuesday April 06, 2021 @07:11PM (#26718515)

I was thinking "black market", not "hard to administer". For that much money, there are plenty of people who are going to be willing to do off-the-books transactions.

And no, it won't be simple to audit. Can you prove that all the food you ate last year came from the grocery store? That you didn't buy any from your neighbor's cousin, who works at a wholesale warehouse?

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Re:Yellen calls for a global minimum corporate tax rate by jl2718 on Thursday April 08, 2021 @01:44AM (#26735451)

What is consumption? Food? Sure. House? Car? Art? Insurance? Medical? It’s not easy. Neither is income.

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