Donald Trump Threatens Tax War Over US Multinationals

https://www.ft.com/content/44610d06-5e20-4b3a-8faf-4d745770d43f

created by D__Miller on 21/01/2025 at 14:29 UTC

1096 upvotes, 17 top-level comments (showing 17)

Comments

Comment by AutoModerator at 21/01/2025 at 14:29 UTC

1 upvotes, 0 direct replies

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Comment by soaero at 21/01/2025 at 20:35 UTC

180 upvotes, 16 direct replies

Wait wait...

He has written an order to force down the price of goods.
Then he is starting a trade war.
Then he is threatening a TAX war.
Then he is threatening to start a land war in South America.

Is his goal to absolutely destroy the US economy? Like, how is he expecting US companies to survive this?

They will have: Shrunk margins
Increased cost of goods
Likely increased taxation when they operate in foreign territories

This is hilarious. God I am happy I don't live there.

Comment by D__Miller at 21/01/2025 at 14:29 UTC

58 upvotes, 2 direct replies

Submission Statement:

The article examines President Donald Trump’s directive for U.S. officials to counter digital services taxes (DSTs) imposed by other countries on American tech giants like Google, Amazon, and Facebook. Trump’s administration argues these taxes disproportionately target U.S. companies and violate international trade norms. Countries implementing DSTs claim they address the inequities of outdated tax systems that allow tech firms to shift profits to low-tax jurisdictions. The U.S.’s retaliatory stance risks escalating trade tensions, as it considers tariffs or sanctions against countries adopting such measures. The situation underscores the challenges of achieving global tax reform, balancing national interests, and addressing the growing power of tech corporations in the digital economy.

Comment by Ok-Replacement9595 at 21/01/2025 at 16:19 UTC

52 upvotes, 4 direct replies

All hail Chairman Trump and the new US planned economy. I am sure the regulation of egg prices is right around the corner.

Comment by Waveritana at 21/01/2025 at 14:50 UTC

50 upvotes, 3 direct replies

Well, if Trump's starting a tax war, I’d say grab your popcorn and get ready for the showdown 'cause it seems like the only thing more dangerous than a multinational tax brawl is Steve Harvey trying to keep a straight face during a stand-up gig.

Comment by hinesjared87 at 21/01/2025 at 22:28 UTC

8 upvotes, 0 direct replies

Good. Dig his own fucking grave. At this point I don’t even care if I go down with the idiot class. Burn it all to the ground.

Comment by Frozen_Membrane at 22/01/2025 at 03:28 UTC

5 upvotes, 0 direct replies

I still can’t believe people voted for this idiot. You can see how bad the education system is in this country when people don’t even know basic geography.

Comment by Kaiser-91 at 21/01/2025 at 17:05 UTC

9 upvotes, 0 direct replies

Everything is a war to these deplorables.

Comment by OrionsBra at 22/01/2025 at 13:30 UTC

4 upvotes, 0 direct replies

I just love how the only "people" he cares about facing discrimination are multinational corporations.

Comment by GreyBeardEng at 21/01/2025 at 17:51 UTC

6 upvotes, 0 direct replies

Meant to protect companies that move their HQ to a country where they pay little or no tax.

Comment by 1822Landwood at 22/01/2025 at 12:45 UTC

2 upvotes, 0 direct replies

This is what the oligarchs want

Comment by Strict_Weather9063 at 23/01/2025 at 23:00 UTC

2 upvotes, 0 direct replies

Took less than a week for him to wipeout his political capital. Man is a lame duck, he has nothing left in the tank.

Comment by EtherealAriels at 25/01/2025 at 09:47 UTC

2 upvotes, 0 direct replies

Look at that picture. Freaks. All of them.

Comment by SpecialtyShopper at 21/01/2025 at 23:48 UTC

1 upvotes, 0 direct replies

This individual is the dumbest emm effer

Comment by JimBeam823 at 23/01/2025 at 15:27 UTC

1 upvotes, 0 direct replies

Who wrote this? Because we all know that Trump doesn't understand one damn bit of it himself.