Burger King Buyout of Tim Horton to Avoid Taxes

Yahoo Finance ^ | 8/27/2-14 | Rick Newman

[econjack]

Small, medium or large? The amount of outrage over Burger King’s deal to buy a Canadian donut chain could possibly determine whether the deal goes through — and helps Burger King dodge millions of dollars in U.S. taxes.

[econjack]

This is more of a commentary on the stupidity of US corporate tax policy than on Burger King making the rational business decision of minimizing its tax bill.

[dfwgator]

I wonder if they’ll mention that BK is owned by Brazilians.

[Mouton]

I wonder if someone would point out that companies don’t pay taxes, people who buy their products do. The corp is just a tax collector.

[Paladin2]

BK Just wants to have it their way fo4r a change.

[cripplecreek]

I actually think its kind of funny to see Warren Buffet jabbing his adoring liberals in the eye.

[Scoutmaster]

"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."

Judge Learned Hand, U.S. Court of Appeals, Gregory v. Helvering 69 F.2d 809, 810 (2d Cir. 1934), aff'd, 293 U.S. 465 (1934).

[Texas Eagle]

Now we know why BK came out with its Gay Burger a few months ago.

It was to inoculate itself from criticism from Preezy With a Shank who is prone to denouncing businesses who leave America to avoid high taxes.

[dfwgator]

[LucianOfSamasota]

Liberals are outraged because they all voluntarily pay more taxes than necessary, out of patriotism, right?

[kjam22]

A “gay burger”? I hadn’t heard that. Does it like hot dogs or what?

[headstamp 2]

Yep BH is financing part of this deal and Burger King is already owned by some south American company.

[DJ MacWoW]

Less Than 12K To Go And The Freepathon Is Over!

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[reg45]

It has a rainbow “pride” wrapper instead of the usual one.

[econjack]

Liberals are outraged because they all voluntarily pay more taxes than necessary, out of patriotism, right?

Other than a tall grass fire, that's one thing that really burns my butt: Liberals who say tax rates are too low. If you really think so, open your checkbook and write a huge check to the IRS. Otherwise, STFU because most of us are being crushed under the tax burden.

[cripplecreek]

Liberals who say tax rates are too low.

Like Warren Buffet. LOL

[TurboZamboni]

Obedience and compliance are the marks of good comrades.

Comply with your masters, comrades! Give till it hurts and then give more!

[BookmanTheJanitor]

http://www.bloomberg.com/news/2013-01-23/yahoo-dell-swell-netherlands-13-trillion-tax-haven.html

Yahoo is writing about tax avoidance???

[mikrofon]

A local financial analyst here in Western New York (where Tim Hortons has a huge presence) stated that although the Canadian corporate rate is far lower, when you compare the net US tax bite vs. the total charges in Canada with their additional socialist fees, it comes down to only a few percent difference. Not being a fiscal wizard in any sense, I can’t say whether this is true or not.

I do know that as a “beneficiary” for many years of Canadian Investment in the area, as long as the new corporate honchos don’t materially change Hortons’ offerings or price structure, I’m not overly concerned with the move.