US Multinationals Exempt from Global Tax Deal: Patriotism Pays
Treasury Secretary Janet Yellen, who championed a global minimum tax to curb corporate tax dodging, has now overseen a deal that exempts US giants from its full force. This 'win' for American companies, celebrated by the administration, essentially codifies the ability of corporations like Google, Apple, and Amazon to continue funneling profits to low-tax jurisdictions, while the rest of the world
(and US taxpayers) pick up the slack. It's a familiar playbook: preach fiscal responsibility for the masses, but carve out loopholes for the powerful. One might wonder if this negotiated 'exemption' is just another thinly veiled subsidy for corporations already making record profits, all while the average American struggles with inflation and crumbling infrastructure. The 'global' tax deal, it
seems, is only truly global for those who aren't American multinationals. Patriotism, for some, means never having to pay your fair share abroad.