Posted on 08/25/2014 8:12:38 AM PDT by SeekAndFind
Comrades, there are wreckers in our midst. The industrialist reactionaries at Burger King have declared their intention to abandon the struggle and join the ranks of the enemy in rightist Canada.
That’s right. The traitorous corporation Burger King plans to take advantage of the fact that America’s English-speaking neighbor to the north maintains the second-lowest corporate tax rate of any G-7 nation. How dare they?
“The iconic American fast-food brand is in talks to buy coffee-and-donuts chain Tim Hortons and move its headquarters to Canada,” Forbes reported. If concluded, this deal would create the world’s third-largest restaurant company and allow Burger King to take advantage of a tax inversion deal and relocate their headquarters to Canada.
Earlier this summer, the Obama administration threatened to use the power of executive action to limit the ability of American companies to avoid paying America’s corporate tax rate by, as the president said, “renouncing their citizenship.” According to Business Insider’s Joe Weisenthal, Burger King’s move is a direct challenge to the White House.
“So much for the theory that Treasury could chill future inversion deals by hinting of possible action,” Potomac Research’s Greg Valliere told Weisenthal.
“[T]he news gives Democrats another talking point,” the Business Insider analyst wrote. “The potential departure of an iconic American company because of ‘corporate greed’ will be trotted out on the campaign trail.”
Oh, we are well past denouncing “corporate greed.” The time has come for populist rage to hit the streets!
(Excerpt) Read more at hotair.com ...
money is fungible
BK had the “gay whopper”...
So, it’s a tossup.
Fact is the corporate income tax is basically a hidden sales tax which ends up hurting the consumer and the little guy the hardest in the final analysis.
Nor should it, which is my point. Both companies are complying with existing laws, and if we don’t like the laws, well we know who to talk to about that.
LOL! I like it!
Cant Holder throw them in jail before they leave? To make an example of them?
Eliminate the corporate tax. Corporations do not pay taxes. Consumers do. Imagine the magnet for foreign corporations we would become if we reduced the corporate tax rate to 0%
How can anyone blame them? It sure beats going out of business. The franchises are in desperate need of a refresh, as McDonalds and DQ have recently undergone.
It looks like Obama’s threat has only lit a fire under businesses fed up with the corporate tax rate.
More power to anyone or any company that can legally avoid taxes!!!
If you are too lazy or too dumb to use the tax laws to avoid taxes suck it up!!!
So, it’s a tossup.
IIRC, it was a local franchise, not the entire company... Yet.
You know, there is an easy way to reverse this “tax inversion” capital flight. And in the bargain, bring in even MORE tax revenue, if that is the objective.
Simply look around the world, see what economy is placing the lowest taxation rates on the corporations doing business in those countries, and come in with the same or even a little lower tax rate on corporations, then watch the capital come STREAMING in. More capital investment, with a lower rate of taxation on the revenue generated, equals greater revenue for the Federal treasury.
Works every time it is tried. And ain’t that just MAGICAL?
IIRC, it was with the support of the company. From a “corporate Identity” perspective, the franchise is required to gain permission to deviate from corporate labeling and use of logo’s
How is this really any different than all the companies which have renounced their state citizenship and taken up residence (incorporation) in Delaware? Most having no presence there.
It isn’t corporate greed why companies move it’s government greed.
No doubt. I don't eat there anyway. I like the burgers, but my wife and kids don't. Hate the fries, though, so we never visit.
That would make too much sense for a “Progressive.” They don’t get how capital flows to the market with the lowest costs and regulations.
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