Marc Abear: Biden not entitled to give away US sovereignty

To The Daily Sun,

The Biden administration is affirming its support for a global minimum tax. This is part of their push to make corporations shell out more in taxes. U.S. Treasury Secretary Janet Yellen said it was time to end “a 30-year race to the bottom on corporate tax rates." She said it is time to establish a global tax system.

Now, Council of Economic Advisers Chairwoman Cecilia Rouse is joining Yellen. Rouse is extolling the virtues of the plan. She is doing so in the context of paying for the Biden administration's domestic spending.

Rouse said on Fox News Sunday, “The idea is to make sure that corporations are paying their fair share, to button up some of the loopholes, which have meant more corporations were actually putting more money offshore – off of U.S. soil – and having a global minimum tax so that we’re working with the rest of our trading partners…” OK, she is a Marxist and a globalist… we get that…

Bloomberg says the concept of a global minimum tax has two basic notions. First, is setting a minimum corporate tax rate across the world. Second, is rewriting the rules for allocating that revenue among countries. It is worth the effort to understand how the concept could work. The administration has yet to articulate this.

There is an important question not addressed in the Biden administration position. Taxation, the ability to levy taxes, is a part of national sovereignty. When a nation gives up the right to set its own tax rates, it loses control of its economy. It loses the policy-setting discretion implicit in controlling its own spending. It gives up most of its sovereignty.

Why does the Biden administration feel empowered to make the United States subservient to another authority? What power would that be? Who is their candidate to redistribute our wealth? What are that power’s goals and objectives? Have we had a national referendum on whether we want to be a vassal state of some other authority? Doesn’t it seem like we should have some input into such a weighty question?

This administration is one calendar quarter old. It looks like this year, if they get their way, this administration will spend $19 trillion dollars between the federal government and the Federal Reserve. Is any of this making anyone beside me nervous? Last year’s federal budget was about $4 trillion dollars.

The virus scare is largely over. What else have we got to justify this kind of reckless spending? This is not a Republican-Democrat thing. This is about what America stands for and who is in control. You voted this dementia patient into office. Is this what you voted for? What are you doing about the results of his actions?

Jeanne Shaheen - (202) 224-2841
Maggie Hassan - (202) 224-3324
Chris Pappas - (202) 225-5456
Annie Kuster - (202) 225-5206

Marc Abear
Meredith