In another Manchin blow to Biden’s big government socialism agenda, the West Virginia senator says he’s skeptical of America joining a global tax cartel with a minimum tax rate of 15% on corporations.
Since no Republicans in the Senate support this anti-America policy, Manchin holds de facto veto power. We agree entirely with his reasoning:
“The rest of the countries won’t follow (it) and we’ll put all of our international companies in jeopardy, which harms the American economy. So we took that off the table,” he says. Hold that thought, Senator. This is just a sneaky backdoor way for Europeans and other foreign countries to raise taxes on American tech companies like Amazon, Google, Airbnb, Qualcomm, and others.
Representative Kevin Brady of Texas, the top Republican on the Ways and Means Committee, says the real problem the White House has isn’t Manchin but the treaty itself: “Congress will not ratify an O.E.C.D. deal that cedes our constitutional authority to set tax rules or fails to protect key U.S. tax incentives.” This is an assault on American sovereignty and a move toward global government.