Trish Regan called out the Biden team highlighting that the administration’s proposal for a global tax is even more socialist than the socialist Europeans saying, “Europeans are being encouraged to tax more by the Americans. Go figure,” she said.
Speaking on her daily podcast Trish Intel, Regan said the move by Biden with the G-7 stems from the U.S.’s recognition that if they tax American companies more, they will drive businesses overseas.
“They’ve been trying to figure out how to tax American companies more and they’ve realized it’s a little bit tough given that companies can go anywhere they want in the world. So what is the answer? Oh, you just tax everywhere, right? And you get all the other countries to come on board with your plan for higher taxes. And that’s what we’re seeing right now!”
Taking aim at the plan to tax every company a minimum 15%, Regan highlighted that while G-7 countries may be in favor of the move, the rest of the world might take a pass.
“If I’m China, I’m kind of loving it, right? Because it makes me have that much more of a competitive edge. Or when you think about places like Honduras or Guatemala where Kamala Harris is right now, these are other countries that may gain more of a competitive edge because they’ll be able to offer a lower tax rate anyway.”