Enterprise Update: A ‘Global Minimum Tax’ if Biden Gets His Way

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Enterprise Update Eliminating barriers to enterprise and innovation Freeze Red Tape to Warm the Economy Index of Economic Freedom: A Must Read for Dr. Kim DOE Rushed Treasury on Solyndra to Accommodate Press Release Tales of the Red Tape Series A ‘Global Minimum Tax’ if Biden Gets His Way By Mike Brownfield If you think a “global minimum tax” sounds like a whacky conspiracy theory, you’d be wrong. According to Vice President Joe Biden, it’s the answer for helping to spur manufacturing in the United States. Here are his remarks at a campaign event in Davenport, Iowa (in which he addresses the president of a manufacturing company). "For years, American manufacturers have faced one of the highest tax rates in the world. We want to reduce that by over 20%. We want to drop the rate, particularly, for high-tech manufacturers like you, Mr. President, even further than the 20%. “We want to create a global minimum tax, because American taxpayers shouldn’t be providing a larger subsidy for investing abroad than investing at home.” >> Click Here to Read More For more information, visit Heritage's Enterprise and Free Markets webpage, which features research, commentary, blog posts, charts and additional policy resources. Red Tape Rising:Obama-Era Regulation at the Three-Year Mark The regulatory burden on Americans continued to increase throughout 2011, with 32 new major regulations that increase regulatory burdens imposed at a cost of almost $10 billion annually. This regulatory excess is evident in lackluster job creation and anemic economic growth. >>Click Here to Read the Report About The Heritage Foundation Founded in 1973, The Heritage Foundation is a research and educational institute -- a think tank -- whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. The Heritage Foundation | 214 Massachusetts Ave NE, Washington, DC 20002 | 202.546.4400