TRUMP SMASHES "GLOBAL MINIMUM TAX"
Remember when Janet Yellen signed away American corporate interests to the European Union in 2021? That "global minimum tax" was always a DISASTER waiting to happen.
The deal was a disaster for America:
- 15% MINIMUM global tax rate
- Prevented future Presidents from cutting taxes
- Targeted US companies
- Let EU countries RAID American businesses.
It was a complete SELL-OUT of American sovereignty.
Trump's not having it.
TWO executive orders on DAY ONE that told Europe: "Touch our companies, and there will be consequences."
Democrats thought they could sneak this through Congress. Spoiler alert:
THEY FAILED. Congress never backed the changes needed to make this work.
Let me tell you what Trump's orders do:
- Tells Treasury to VOID Yellen's agreement
- Sets up retaliation against foreign tax grabs
- Protects American businesses
The real kicker? Trump's bringing out the NUCLEAR OPTION: Section 891 of the tax code. Never heard of it?
You're about to...
Section 891 lets the USA DOUBLE the tax bills of foreign companies whose governments try to squeeze American businesses. That's called playing hardball.
Europe's economy is struggling, and instead of fixing their own problems, they wanted to raid America.
Fun fact: Every US administration OPPOSED this deal until Biden came along - EVEN OBAMA.
Bottom line: Trump just saved American businesses billions in potential taxes. Europe can either compete fairly or face the consequences.
Game. Set. Match.
