Canada Ping!
Posted on 08/25/2014 11:47:34 AM PDT by jazusamo
Sen. Sherrod Brown (D-Ohio) is urging consumers to boycott Burger King over reports that the fast food chain is eyeing a tax-cutting move to Canada.
Brown, an outspoken corporate critic, said people hankering for a burger should head to Wendy’s or White Castle, two Ohio-based chains that aren’t looking to shrink their tax bill via a so-called “corporate inversion.”
“Burger King’s decision to abandon the United States means consumers should turn to Wendy’s Old Fashioned Hamburgers or White Castle sliders,” he said in a statement. “Burger King has always said ‘Have it Your Way’; well my way is to support two Ohio companies that haven’t abandoned their country or customers.”
Burger King is discussing a merger with the Canadian food chain Tim Hortons, which would allow the burger giant to move its headquarters up north to take advantage of Canada’s 15 percent corporate tax rate, well below the 35 percent rate in the United States.
The move, if it comes through, would be the latest in the growing inversion trend, which has U.S. companies acquiring or merging with foreign counterparts with an eye toward avoiding higher U.S. taxes.
The move has come under heavy political criticism, and President Obama has said he is looking at ways to curb the deals through executive action.
Brown, a member of the Senate Finance Committee who could take over the Banking Committee in the next Congress, said Monday that Congress should push for a minimum global corporate tax rate.
Setting a country-by-country minimum tax base would help keep American companies in the U.S. and entice further investment, and also discourage countries from trying to slash their rates as low as possible, he argued. He also called on U.S. policymakers to lower their rate, which now stands at the highest level in the world.
“This kind of common sense reform will close down tax havens that cost our country revenue and cost American jobs. Lowering the statutory corporate tax rate would put companies on a level playing field with foreign competitors and reduce the incentive for them to shift jobs and profits overseas. Creating a global minimum tax rate will increase investment in the United States, raise revenue, and prevent a global race-to-the-bottom,” he said.
I commend Burger King for considering the option of voting with its feet.
Canada Ping!
Sherrod Brown hates Canada!
I’ll go to Bk any time I want. This is a dumb proposal. Cut the corporate tax rate instead.
Sen. Sherrod Brown (D-Ohio) should vote to IMPEACH OBAMA since he was the one that started this mess...
Go Burger King - RUN - RUN as FAST AS YOU CAN!!!!
Canada now a tax haven. I never imagined it would happen in my lifetime.
You need to boycott Congress, after all they created the Tax Law which allows Burger King and others to use the LAW to move to Canada!
Amen to that.
There is a good reason to object to this maneuver. TH has a lot of good food, while BK is mostly manufactured junk not fit for human consumption. Burger King would probably ruin Tim Horton's food.
Oboy, Sh!thead Brown speaks again. BK should tell the morons in gov’t WHY they’re leaving. The truth may not hurt the stupid pols, but a few full-page ads explaining it might open a few eyes.
I hear you, thought Canada’s taxes were as high or higher than ours.
Now, I’ve got a dilemma. I already boycott B.K. because of their queer burgers, now a rat wants me to boycott them for liberal reasons. What’s a boy to do?
Now, I’ve got a dilemma. I already boycott B.K. because of their queer burgers, now a rat wants me to boycott them for liberal reasons. What’s a boy to do?
I’ve been boycotting them for the last 30 years. Because their food sucks.
I have a similar problem - is it really a boycott if you weren’t going to be patronizing them anyway? :P
Burger King was the one that not too long ago introduced a “Gay Pride” burger. Seems their pandering didn’t win them any friends in liberal high places.
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