Source: The Weekly Standard
Well today, in a speech the president is delivering in Milwaukee, Wisconsin, Obama announced the thrust of what amounts to a “global minimum tax”—even if he avoided using the controversial phrase.
“[N]o American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas,” Obama said, according to his remarks as prepared for deliver. “From now on, every multinational company should have to pay a basic minimum tax. And every penny should go towards lowering taxes for companies that choose to stay and hire in the United States of America.”
So while President Obama calls it “a basic minimum tax,” his adviser, Sperling, calls it a “global minimum tax.” Either way, it’s the same thing regardless of how the White House wants to message it.
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