Have it your way!

[OldDog]

"Burger King says it struck a deal to buy Tim Hortons Inc. for about $11 billion, a move that would give the fast-food company a stronger foothold in the coffee and breakfast market. The corporate headquarters of the new company will be in Canada, which stands to help lower Burger King’s corporate taxes. Such tax inversions have been criticized by President Barack Obama and Congress because they mean a loss of revenue for the U.S. government. Sen. Sherrod Brown, D-Ohio, is calling for a boycott of Burger King (and for) a creation of a global minimum tax rate. Berkshire Hathaway (Warren Buffett) is . . . helping finance the Tim Hortons deal with $3 billion of preferred equity financing . . ."


http://cleveland.cbslocal.com/2014/0...-white-castle/

[Pants II]

2nd highest corporate tax rate in the world. Can't blame the king of burgers.

[OldDog]

Actually the effective corporate tax rate in the U.S., which combines national, state, and city-level tax rates, is 39.1 percent—the highest across all 34 Organization for Economic Cooperation and Development (OECD) member countries.

Because, you know, Evil Capitalism.

[Danzig]

Originally Posted by OldDog

Actually the effective corporate tax rate in the U.S., which combines national, state, and city-level tax rates, is 39.1 percent—the highest across all 34 Organization for Economic Cooperation and Development (OECD) member countries.

Because, you know, Evil Capitalism.

but with all the various tax breaks, incentives, write-offs, corporations don't pay that rate.
i find burger king's move disgusting. almost as bad as their food for that matter.

[Danzig]

GAO: U.S. corporations pay average effective tax rate of 12.6%

http://money.cnn.com/2013/07/01/news...rate-tax-rate/

they do need to revamp the corporate tax system, just like the personal...but hell, we all know it won't happen. that would take actual work!

[Rudeboyelvis]

Originally Posted by Danzig

but with all the various tax breaks, incentives, write-offs, corporations don't pay that rate.
i find burger king's move disgusting. almost as bad as their food for that matter.

Apparently the various tax breaks, incentives & write-offs don't equal the benefit of not dealing with them in the first place.

Asking corporations to concern themselves with anything at all other than maximizing profit is LOLOLOLOLOLOLOLOL

I'm sure by the time this administration is done, those "benefits" all go away anyhow. Who do you think is paying for the morass they've created?

[Danzig]

Originally Posted by Rudeboyelvis

Apparently the various tax breaks, incentives & write-offs don't equal the benefit of not dealing with them in the first place.

Asking corporations to concern themselves with anything at all other than maximizing profit is LOLOLOLOLOLOLOLOL

I'm sure by the time this administration is done, those "benefits" all go away anyhow. Who do you think is paying for the morass they've created?

that's true.

[Danzig]

and, just saw this:

http://news.msn.com/us/boehner-repor...version-deal-1

[Danzig]

http://www.slate.com/blogs/moneybox/...dge_taxes.html


But the idea that Burger King won’t really get any tax advantages out of relocating to Canada, where the corporate rate is about 15 percent compared to 35 percent in the U.S., seems transparently untrue. Yes, it will continue paying American corporate rates on its U.S. profits, just like any other foreign company. But Canadian citizenship will likely give it more opportunities to use various accounting and business tricks to shift profits north of the border and out of the reach of the IRS (multinationals with foreign subsidiaries excel at that sort of thing).


Inverting will also leave Burger King more flexibility to move its international profits freely. As conservatives and business groups regularly complain, the U.S. is unusual in that it taxes profits that domestic companies earn abroad. That’s why companies like Apple keep great troves of cash sitting overseas. In moving to Canada, at least in name, Burger King eliminates that problem, which may be especially important since its growth plans are focused on the international markets.

[OldDog]

Originally Posted by Danzig

and, just saw this:

http://news.msn.com/us/boehner-repor...version-deal-1

"Obama has railed against this inversion maneuver as unpatriotic – the equivalent of a corporation renouncing its U.S. citizenship..."

How can a corporation be patriotic or unpatriotic? It's not like they're people, right?

[jms62]

Originally Posted by OldDog

"Obama has railed against this inversion maneuver as unpatriotic – the equivalent of a corporation renouncing its U.S. citizenship..."

How can a corporation be patriotic or unpatriotic? It's not like they're people, right?

Only when it suits their purpose Dog.

http://www.demos.org/publication/10-...gers-democracy

[dellinger63]

Since there is no Mr. and Mrs. Burger King; blame should be pointed at the evil shareholders, not the little guy with 50 shares but huge greedy funds.

Funds like Teachers Advisors Inc., College Retirement Equities Fund Stock Account and College Retirement Equities Fund Global Equities Fund, (ALL THREE among BKW's largest shareholders) who use funds furnished, actually extorted from the little guy, the guy with 50 shares in the form of inflated property taxes.

Those damn public sector teachers and their inflated pensions.

Hell let's just pretend there's a Mr. Henry F. Potter and he owns Burger King...

Wonder how much tax money Burger King provides in the form of sales tax selling their borderline edible foods? And come to think of it, payroll tax, property taxes, business licensing etc.?

[Danzig]

Originally Posted by OldDog

"Obama has railed against this inversion maneuver as unpatriotic – the equivalent of a corporation renouncing its U.S. citizenship..."

How can a corporation be patriotic or unpatriotic? It's not like they're people, right?

hey, they have freedom of speech and religion, so........

[OldDog]

Originally Posted by dellinger63

Since there is no Mr. and Mrs. Burger King; blame should be pointed at the evil shareholders, not the little guy with 50 shares but huge greedy funds.

Funds like Teachers Advisors Inc., College Retirement Equities Fund Stock Account and College Retirement Equities Fund Global Equities Fund, (ALL THREE among BKW's largest shareholders)

BKW rose 19.5% in session. Quick! Divest!

By the way, Warren Buffett's Berkshire Hathaway's investment will earn 9%, a tidy $270M. Imagine the howls if Romney had engineered this.

[Danzig]

Originally Posted by OldDog

BKW rose 19.5% in session. Quick! Divest!

By the way, Warren Buffett's Berkshire Hathaway's investment will earn 9%, a tidy $270M. Imagine the howls if Romney had engineered this.

that's what irritates me-that howls are one sided, depending on the particulars. the howls should be loud, regardless.
just like when harry reid was pissing and moaning about the kochs and their money...and then when someone asked him about his deep pocketed vegas buddy-*crickets*.

[OldDog]

It all comes down to this...

Why remain in the US when it's so unexceptional?

[Danzig]

Originally Posted by OldDog

It all comes down to this...

Why remain in the US when it's so unexceptional?

well...
these corporations have a lot of businesses here. but they keep trying to squeeze every last nickel and dime-when will they reach terminal velocity?

it's like the little hick town here...they kept wanting to do more stuff, build more stuff, so they'd raise the sales tax. 1/4 cent here, 1/2 cent there, and the money flowed in.
and then they went too far. they went over the 10 cent mark, and it stopped flowing.
why? because everyone drives about 25 minutes south and spends all their money in the first big town in louisiana. they went too far on taxes, and it drove people to shop elsewhere.