(JustPatriots.com)- Writing for Info Wars, former presidential candidate Ron Paul said this week that the global tax and fiat currency systems “will only benefit the world’s political and financial elites” and that the scheme “may even advance the old Keynesian dream of a global currency.”
The stark warning comes from the legendary libertarian politician and commentator at a time of great financial insecurity for the nation, with the total unemployment rate still around 6% thanks to the Democrats’ continued push to keep businesses closed as the COVID-19 pandemic comes to an end.
“Treasury Secretary Janet Yellen has proposed that governments around the world require payment of at least a uniform ‘global minimum corporate tax,’” Paul writes.
“A motivation for Yellen’s push for a global minimum corporate tax is fear that the Biden administration’s proposed increase in the US corporate tax will cause some American corporations to flee the US for countries with lower corporate taxes,” he added.
It follows an announcement by President Joe Biden that he plans to increase corporation tax – after President Donald Trump successfully lowered it and encouraged American businesses to hire people here at home – in order to pay for his massive $2 trillion “infrastructure” plan.
“Much of the spending will benefit state-favored businesses,” Paul added. “For example, the plan provides money to promote manufacturing and electric vehicles. So, the idea is to raise taxes on all corporations and then use some of the received tax payments to subsidize government-favored businesses and industries.”
Paul, a libertarian and well-known commentator on economic issues, said that the goal of those who support global minimum taxes being enforced by a global tax agency is to stop countries from lowering their taxes, and that lowering corporate taxes is “one way countries are able to attract new businesses and grow their economies.”
“For example, after Ireland lowered its corporate taxes, it moved from being one of the poorest countries in the EU to having one of the EU’s strongest economies. Also, American workers and investors benefited from the 2017 tax reform’s reduction of corporate taxes from 35 percent to 21 percent,” Paul said.
So why on earth is Joe Biden doing…the opposite?
Paul predicted that a global tax and fiat currency systems benefit the financial elites, whereas the regular people across the world benefit from limited government and free markets.
It looks like the United States – and the regular people of the United States – are in for a rough ride over the next four years.