The Current FReepathon Pays For The Current Quarter's Expenses?
Posted on 08/27/2014 7:03:34 AM PDT by SeekAndFind
It's no surprise Burger King is merging with Tim Hortons and moving its headquarters to Canada. Taxes are much lower there. What's strange is the deal's being financed by someone who believes in higher taxes here.
Burger King is buying the Canadian donut chain for just over $11 billion. To seal the deal, legendary investor Warren Buffett — a man whose acumen we very much respect, by the way — is taking a 9% stake in the combined companies for an estimated $3 billion.
In effect, he's financing Burger King's tax move. This is richly ironic, given that Buffett has pushed to tax the rich at higher rates — which would lead to fewer new businesses and fewer jobs in the U.S.
As it is, Burger King will now become the No. 3 fast-food company, with Tim Horton giving it an especially powerful presence in the breakfast end of the business.
But it will be a Canadian company, and its move north is entirely rational and in the interest of all its shareholders — including Buffett. After all, here in the U.S., corporations are taxed at up to 40% of their income. In Canada, the comparable top rate is about 26%.
(Excerpt) Read more at news.investors.com ...
Never listen to Bammy. Note what he does and does not.
From the business viewpoint it makes perfect sense.
I am however thoroughly enjoying seeing one of the heroic liberal billionaires stick his hypocrisy in the eye of liberals after making so much noise about our need to pay more taxes.
The Current FReepathon Pays For The Current Quarter's Expenses?
The left GLORIES in hypocrisy. They believe their moral superiority entitles them to a double standard.
Buffet is widely considered to be one of the shrewdest investors in the world. So, the fact that he is doing this is an indication that he too wants to avoid excessive taxation.
Wikipedia has a good article on hypocrisy. It points out that hypocrisy is more extreme in people with powerful positions.
The solution would seem to be to limit dictatorial power in society. The more one has big government, the more the hypocrisy.
So of course, the left’s solution is to raise the corporate tax.
For what it’s worth, they reported yesterday that Burger King was owned by a Brasilian consortium anyways.
To seal the deal, legendary investor Warren Buffett — a man whose acumen we very much respect, by the way —
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His acumen is limited to his success as a hypocritical Democrat.
“It’s not hypocrisy. He said WE should pay more taxes. Ne never said HE should pay more taxes.”
The main reason Warren pays lower taxes is the carried interest loophole and paying the capital gains rate on appreciated assets instead of the high marginal rate.
Democrats want high marginal tax rates in order to keep people from accumulating wealth. As far as those who already have wealth are concerned, Democrats quietly support the loopholes, lower capital gains rate, and tax free treatment of municipal bond interest their billionaire supporters (Warren Buffett and Tom Steyer) take full advantage of. The Senator from Wall Street, Chuck Schumer, is constantly screaming for higher individual tax rates on the middle class while he quietly keeps repeal of carried interest out of tax bills.
The Democrats are aided by the GOPe. They compromised on marginal rates while doing the bidding of their Chamber of Commerce bankers to keep tax simplification, and elimination of preferences, off the table.
Buffet is widely considered to be one of the shrewdest investors in the world.
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That’s true, but in reality, he’s a mediocre investor. His skill is sheltering his capital gains from taxes through his insurance companies, and getting political favors.
Is there someone out there you would consider a superior or great or good investor? Someone whose moves you would follow.
Is there someone out there you would consider a superior or great or good investor? Someone whose moves you would follow.
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Studies have shown that the major indexes beat just about everybody in the long run. I think there are some who have lucky streaks for awhile. Peter Lynch is one such example. Loud mouth liberal jerk, Cramer, got out of the hedge fund business to run his mouth for a living. Buffet, until recently had been under performing the indexes for years.
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