Patterico's Pontifications

8/27/2014

The New Republic: These Brazilians Need to Pay These Absurd U.S. Taxes

Filed under: General — Patterico @ 7:49 am



Some lefty at The New Republic whines as follows:

The Wall Street Journal reported Sunday evening that Burger King is seeking to buy Tim Horton’s, the Canadian coffee and donut chain, to lower its U.S. tax bill.

You may be wondering, how does Burger King reduce its tax liability by purchasing a Canadian fast food company? The answer is that the deal is structured as a “tax inversion” which allows Burger King to switch its official tax jurisdiction from the United States, where the federal corporate tax rate is 35 percent, to Canada, where it is 15 percent. Presto! Burger King’s tax bill is suddenly much lower.

If it sounds ridiculous that an American company can purchase a foreign firm and suddenly avoid the U.S. corporate tax system, that’s because it is. Under current U.S. tax law, if the American company transfers 20 percent or more of its shares to the foreign firm, it can switch its official tax jurisdiction. It doesn’t matter that the vast majority of the shareholders are still American. Or that the management and control of the company remains in the U.S. Or that in making the deal, nothing about the company actually changes. You would still be able to grab a Whopper for lunch. Its thousands of American workers will all still have their jobs. But Burger King will have opted out of the U.S. corporate tax system.

Meanwhile, Forbes reported three days ago on the prospective merger and said:

Burger King’s majority owner, the Brazilian private-equity firm 3G Capital, would hold the majority of shares in the combined company, their statement said.

These Brazilians need to get patriotic and pay their absurdly high American tax rates.

P.S. The tax inversion is being funded by noted high-tax proponent and hypocrite Warren Buffett.

80 Responses to “The New Republic: These Brazilians Need to Pay These Absurd U.S. Taxes”

  1. is this any different than why i want to leave california really?

    nope.

    anywhere else i go I get to keep more of what i make

    plus it never rains here, which is getting old for me

    happyfeet (8ce051)

  2. If I understand this correctly, an American corporation is taxed by the U.S. government on all of its profits worldwide (with a credit for foreign taxes paid, which are almost everywhere less) if it wants to repatriate the money, while a foreign corporation is taxed only on profits made in the United States.

    The merger creates the possibility of the ex-American corporation paying even less taxes on its American profits, because profits can be shifted abroad in various subtle ways. They coudl sell a patent overseas, for instance.

    Whatever the exact issue is, it is not being made clear to people.

    Sammy Finkelman (7d0d47)

  3. Can they take their dog food rejects with them too?

    nk (dbc370)

  4. California history textbooks will now be asked to cover “the significance of President Barack Obama’s election,” under a law signed this week by Gov. Jerry Brown.

    happyfeet (8ce051)

  5. TNR’s EPIC FAIL roll continueszzzzzzzz

    Colonel Haiku (2601c0)

  6. Business experts(yes, I know) have been saying for ages that corporate taxes reduce revenues, and with our tax code providing a plethora of perverse incentives to malinvestment and corrupt kickbacks exacerbating the problem.

    Add, into the lurch, the IRS and arguments over inversion are daft.

    We need a flat tax. Talking about anything else is sick.

    gary gulrud (46ca75)

  7. C corporations don’t have a flat tax?

    nk (dbc370)

  8. 7. No more than you do.

    gary gulrud (46ca75)

  9. No, I guess not. But flat tax is a squirrel anyway. If you love America, these are the tax rate you want:

    Profits from domestic goods sold abroad taxed at 20%.
    Profits from foreign-produced goods sold domestically taxed at 80%.
    Profits from domestic goods sold domestically taxed as necessary to both preserve jobs and revenue.

    If you love multinationals, listen to the corporate shills. Personally, I don’t give a hoot how many retailers leave America. We are the world’s biggest market. For everyone that goes, ten are waiting to take its place. We can help them leave by taxing them up the wazoo and when necessary boycotting the foreign-made trash of both foreign and domestic corporations. And also telling the TSA to expedite their exit.

    nk (dbc370)

  10. Doesn’t this just change the tax rate of their foreign profits? They still pay the American corporate tax on their American profits, right? Why the hell should we tax them on foreign profits anyway? What “right” do we have to take a cut of what they make in Norway? Is their Norwegian business using American resources? Should Sven in Oslo pay more for a Whopper so that the US has better roads?

    rowbigred26 (8a4846)

  11. Should Sven in Oslo pay more for a Whopper so that the US has better roads?

    Sven in Oslo does not have to pay anything at all. Who needs a Whopper? Warren Buffet drives the Rolls Royce he got with Sven’s money on U.S. roads so he should pay the same taxes as any other U.S. citizen.

    nk (dbc370)

  12. My understanding is that Burger King does NOT reduce its entire corporate tax rate to 15%. What I believe happens is that U.S. Law requires that the U.S. rate (35%) be levied on all profit, even profit earned outside the U.S.. Canadian law, as also other countries, taxes only Canadian earned income at the Canadian rate (15%) while income earned in the U.S. is STILL taxed by the U.S. at the U.S. rate (35%). Likewise, income earned in Germany is taxed not by Canada but by Germany; conversely in the U.S. that income earned in Germany is ALSO taxed at the U.S. rate. Likewise, France, England, China, Mexico, etc.

    The decision to structure this inversion is a simple business decision no different that a corporation choosing to automate to reduce operations costs. After all, taxes, to a corporation, are nothing but a cost of doing business which is collected by the corporation from the consumer on behalf of the govt. Instead of people getting their knickers in a twist about Burger King “moving out of the country” they should be asking themselves how to structure a business environment which encourages business to start up and remain in the U.S. but that would require thinking on a non-confiscatory basis. Good luck with that!

    T (105f3f)

  13. 9. “squirrel”

    Oh, the IRS is a diversion, a misdirection, now? I see.

    gary gulrud (46ca75)

  14. No, gary, the IRS is not a squirrel. Flat tax is a squirrel. Its appeal is to the fat cats and to people who don’t like math. It has no virtue, except to make writing that (for 90% of the people bigger) check to the government easier.

    nk (dbc370)

  15. If our current President can hightail it over to Berlin in the midst of his 2008 campaign and declare himself to be “a fellow citizen of the world” then why can’t Burger King do the same thing? For years the left has sneered at the idea of patriotism and being proud to be American but now where milking tax revenue out of corporations is at stake suddenly they become the biggest flag-wavers of all.

    JVW (638245)

  16. 14. Some version of a flat tax is the ticket to abolishing the IRS and an arm of the overlords.

    gary gulrud (46ca75)

  17. It’s almost like they think these corporations are people or something when they demand them to be patriotic. Crazy, right?

    daleyrocks (bf33e9)

  18. 17. Nice insight.

    gary gulrud (46ca75)

  19. Let’s first get it straight that NO corporation pays tax. Any tax.

    Yes the money comes from the corporations bank to the taxing body
    but the money comes from the corporations customers first.

    Corporations include taxes as part of their overhead, thus they
    apportion part of their cost of goods or services to take that
    into account.

    The only entities that pay government taxes are people.

    Liberals never can seem to understand the concept and think
    that by raising taxes on corporations that somehow they’re
    helping the citizens.

    They’re WRONG.

    jakee308 (ba1e65)

  20. Here’s a few to several positions via Mish:

    http://globaleconomicanalysis.blogspot.com/2014/08/burger-king-flips-obama-bird-on.html

    Blogging economist Mankiw somewhat surprisingly backs repeal.

    But jakee308 has hit the nub. Good show.

    Government is inherently inefficient and invites corruption. You like your government?

    Guess what? You’re keeping it regardless.

    gary gulrud (46ca75)

  21. “Government is inherently inefficient and invites corruption”

    The four basic rules:

    1) All organizations tend toward growth;
    2) The larger the organization becomes, the more inefficient and corruptible it becomes;
    3) The more corruptible it becomes, the more corrupt it becomes;
    4) The more corrupt it becomes, the more coercive it becomes.

    T (105f3f)

  22. 5) The longer the time period since its founding, the greater the chance things will not work right by an organization, unless there are some consequences for doing a bad job, like the possibility of going out of business.

    Sammy Finkelman (7d0d47)

  23. jakee308 (ba1e65) — 8/27/2014 @ 10:22 am

    Corporations include taxes as part of their overhead, thus they
    apportion part of their cost of goods or services to take that
    into account.

    They still should be the ones keeping the records, filing the tax returns, and possibly being audited.

    I don’t see how this is an argument for taxing individuals rather than corporations.

    The only entities that pay government taxes are people.

    Liberals never can seem to understand the concept and think
    that by raising taxes on corporations that somehow they’re
    helping the citizens.

    They’re WRONG.

    Sammy Finkelman (7d0d47)

  24. I don’t care if they’re patriotic. They have money; let’s take it. Because, you know what? That’s exactly their attitude, too, towards the American consumer.

    nk (dbc370)

  25. That’s exactly their attitude, too, towards the American consumer.

    If they force me to buy and eat one more of their delicious double stacks I’m going to riot!

    Racists!

    rowbigred26 (8a4846)

  26. “I don’t care if they’re patriotic. They have money; let’s take it.”

    nk – Eff Yeah! Let’s make it even more expensive for corporations to do business in America!!!!

    More regulations and taxes……pile ’em on……to the barricades!!!!!!!!!

    daleyrocks (bf33e9)

  27. “You should be thanking me…”

    – The King of Burgers

    Colonel Haiku (2601c0)

  28. nk – Eff Yeah! Let’s make it even more expensive for corporations to do business in America!!!!

    Why not? Where is Burger King going to go to sell its garbage? Or Walmart? Or Macy’s? Or any other retailer? We are the richest consumer market in the history of the world. Let’s use the power of our collective purse.

    nk (dbc370)

  29. “Why not? Where is Burger King going to go to sell its garbage? Or Walmart? Or Macy’s? Or any other retailer? We are the richest consumer market in the history of the world. Let’s use the power of our collective purse.”

    nk – To make us all poorer! Eff Yeah!!!! Who’s with me?

    daleyrocks (bf33e9)

  30. Smarttake – We will put you out of business before allowing you to redomesticate.

    WINNING!!!!11ty!!!!!!

    daleyrocks (bf33e9)

  31. 1. How is not giving your money to Warren Buffet but instead taking money from him to pay for your roads and your soldiers making you poorer?
    2. Do you think the money-grubbers will walk away from the world’s richest market? That other retailers won’t come here?
    3. Do you work for K Street?

    nk (dbc370)

  32. 1. It make me poorer because my Whopper will either cost more money, or not be available, which is also a cost to my opportunities.
    2. Yes.
    3. No.

    rowbigred26 (8a4846)

  33. Look at the bright side, people. Warren Buffet’s role in this substantially complicates the White House’s narrative on inversions.

    http://www.chicagotribune.com/sns-wp-blm-news-bc-burgerking-buffett27-20140827-story.html#page=1

    elissa (689d77)

  34. 31. Color me surprised if there is a way to get Buffett’s money.

    And his money that is really ours, for that matter.

    I could look it up, but WB invested $8 Billion in railroads and stopped the Keystone and 100,000 jobs cold.

    All so minor little inconveniences like toasted burgs could continue the broken windows experiment while Warren’s railroads racked up the miles carrying ND oil.

    I would like to disabuse everyone of the notion that crony capitalism is a victimless crime but somehow people like to find a loser among pols and capitalists so that I want to just retire.

    gary gulrud (46ca75)

  35. It make me poorer because my Whopper will either cost more money, or not be available, which is also a cost to my opportunities.

    And thus did Esau for a dish of potage give away his inheritance.

    nk (dbc370)

  36. Warren Buffet’s fortune is not my inheritance. I did not earn it, I should not take it.

    rowbigred26 (8a4846)

  37. I meant American consumerism which is funneling the nation’s wealth to a handful of multinationals. It’s ok. You don’t need to convince me. I can’t even remember ever buying anything at Burger King. Chicago has much better fast food choices.

    nk (dbc370)

  38. More not so good news: the 30-year T-Bond is in full retreat, now at levels last seen 15 months ago.

    Gazprom has just sold its first load to be paid for in rubles and yuan alone.

    Argentina continues its unbroken mimesis of Zimbabwe.

    A second American in ISIS gets his heart’s desire.

    The Baltic Dry Index(once above 11,000)is falling off a cliff at 775

    The good news: Liberia and Sierra Leone are now serviced by Morocco Royal Air alone.

    gary gulrud (46ca75)

  39. “Look at the bright side, people. Warren Buffet’s role in this substantially complicates the White House’s narrative on inversions.”

    elissa – The icing on the cake is that by investing in preferred stock Berkshire Hathaway gets to exclude 70% of the dividends on those shares from its taxable income (80% if it owns more than 20%).

    daleyrocks (bf33e9)

  40. Burger King got exactly what it wanted from this deal – tax breaks and a TON of publicity.

    Whatever corporation that owns Burger obviously also owns many other businesses. It’s impossible to boycott (which rarely works long term in America) all of them. They may have even gained a few pro free market customers.

    Notice how libs portray Burger King as a beneficiary of the state, while neglecting to mention that they hire thousands of low skilled workers and add to construction jobs whenever they expand.

    lee (b2dfc0)

  41. 39. News we can use.

    Also, of the 112 Indians and Nepalese returning from Liberia overnight, only one has proved to have early signs of the fever so far.

    gary gulrud (46ca75)

  42. New Republic is RACIST!!!!!!

    Rodney King's Spirit (8b9b5a)

  43. jakee308 (ba1e65) — 8/27/2014 @ 10:22 am

    Corporations include taxes as part of their overhead, thus they
    apportion part of their cost of goods or services to take that
    into account.

    Yeah and the higher these taxes are the more stuff costs us.

    Rodney King's Spirit (8b9b5a)

  44. Until we remove ALL social and financial engineering concepts from taxation this problem will never be solved.

    Best tax is the simplest to collect the money the Government needs to run itself.

    The minute you uses taxes to give one person incentives versus the other person — 5,674,326,789,888 lines of tax code are created.

    All in for one national sales tax. Done.

    Rodney King's Spirit (8b9b5a)

  45. flat tax on income: single digit rate, same for everyone, and no exceptions.

    people, corporations, churches, organizations, everyone. you bring in income, you pay tax on it.

    your tax form would fit on a post card, we could cut the IRS down to 100 people to count the money as it rolls in, and all the accountants, tax lawyers & lobbyists can go out and get productive j*bs instead of being leeches on the economy.

    redc1c4 (abd49e)

  46. Hold the pickle, hold the lettuce. Words to live by.

    Birdbath (3be0e2)

  47. Is Rodney King a relative of Burger?

    Birdbath (3be0e2)

  48. I’ve been on about this for years, but the corporate tax should just be abolished. The reason why: Corporations don’t pay taxes, but not for the reason you think.

    Corporate taxes are levied on profits. Profits come from sales minus costs. Sales come from customers. So, corporations don’t pay the taxes, their customers do. Corporate taxes are built into the price of whatever good or service the corporation sells. So, it is not inaccurate to say that corporate taxes are really a stealth VAT.

    There would be a lot of advantages for just ditching the whole thing. Compliance costs, for one thing. It is estimated that a typical corporation’s compliance costs are 80 percent of the taxes collected. Think about how many things you have to keep track of for depreciation purposes and this is not an unrealistic estimate. And then there is the economic distortions that the tax code incentivizes. Corporations would also have no reason not to repatriate the money there currently have warehoused overseas. Eventually, also lower prices for things as competition drove them down.

    Here’s why it won’t happen. Politicians love the idea of corporations coming to them groveling for tax breaks and the campaign contributions that go along with it. The government literally has the power to make you wealthy or put you into bankruptcy overnight and I don’t see politicians giving up that power anytime soon. I’m sure most corporate CEO’s would rather spend their money on three martini lunches than on lobbyists.

    CDM (03a69a)

  49. Why would Brazilians and Warren Buffett want to pay taxes to the U.S. government for their operations in countries outside of the U.S.A?

    But let’s look on the several silver linings of our President who will never rest until…

    Climate change seems to be sparing Burger King’s Florida headquarters from any major hurricanes this season. At least so far.

    No white cop killed an innocent minority today, if you watch the news. It may have happened though.

    It has been several days since a command general of the U.S. Military has been murdered.

    Assad did not gas anyone in Syria today. Maybe. I can’t be sure.

    Speaking of Syria, just how many Americans are fighting on the ISIS side? Hey, at least they are not here. Yet.

    Harris County, Texas, tops the list of illegal immigrants released by ICE. Go Houston! My semi-hometown always leads the way.

    All those kidnapped children by Boko Haram must be safe now because I haven’t seen any sad face Michelle tweets lately.

    Hey, does anyone remember the IRS scandal? Me neither. It’s kind of like someone recycled my blackberry brain. Weird. I remember a name. Lerner?

    Somehow, I seem to remember something about a movie? What is it? Fast and Furious? So long ago.

    Wasn’t there something else? It happened in that country in the Marine song. I think it was sad. A bad thing did happen, right?

    Of course, there was a time when children being slaughtered in their school was a top priority. At least the survivors eat correctly now.

    It’s all good now, though. Our President has figured out a way to solve global warming and the illegal immigrant issue without Congress while making sure the death of some guy in Missouri turns out the vote.

    Thank Allah and God Bless America.

    Ag80 (eb6ffa)

  50. Corporate taxes are built into the price of whatever good or service the corporation sells.

    Taxes are built into the price of whatever goods or service anybody sells. Even hookers and drug dealers take into account the extra cost, due to taxes, for the stuff they’ll be spending their ill-gotten gains on. It’s not an argument against corporate taxes any more than it is an argument against taxing the income of nurses who care for lepers.

    nk (dbc370)

  51. 50. You may want to sleep on that.

    gary gulrud (46ca75)

  52. Please explanate. I’ve been a sole proprietor since 1985. You don’t think I calculated my take-home, and consequently my rates, taking taxes into account?

    nk (dbc370)

  53. #50 The difference is that you are a living, breathing person, I presume. Hookers and drug dealers are living, breathing people too. A corporation is a legal construct, and as such, an artificial person. The point I’m making, and you’re missing, is that corporate taxes are ultimately being paid by real people.

    CDM (03a69a)

  54. I’ve been a sole proprietor since 1985. You don’t think I calculated my take-home, and consequently my rates, taking taxes into account?

    Yes nk, and as a sole proprietor that’s all the business tax you’re req

    Hoagie (4dfb34)

  55. I had tea at a Tim Horton’s this morning. Can’t I just eat my waffle?

    carlitos (c24ed5)

  56. I’ve been a sole proprietor since 1985. You don’t think I calculated my take-home, and consequently my rates, taking taxes into account?

    Yes nk, and as a sole proprietor that’s all the business tax you’re required. But did you realize that also since 1985 you’ve been paying your share of the corporate tax for every company you’ve made a purchase from? Because the company doesn’t pay the tax, the buyer does. So every time you hear some wackadoddle leftist promise to raise taxes on this industry or that, on this company or that, just remember he’s telling you he’s going to raise your taxes!

    Businesses figure taxes just as they do any other expense and then add on profit. The only tax they don’t add profit to is sales tax, that comes as an add on at the sale.

    Hoagie (4dfb34)

  57. Sorry about #54. That abortion occurred when I accidentally hit “something” while typing. No, I’m not drinking…..yet.

    Hoagie (4dfb34)

  58. What we need in this country is more centralized government control over individual and business decision making because the government knows best.

    daleyrocks (bf33e9)

  59. “Even hookers and drug dealers take into account the extra cost, due to taxes, for the stuff they’ll be spending their ill-gotten gains on.”

    hey, nk… teh average streetwalker gives as good as she gets.

    Colonel Haiku (2601c0)

  60. ? I know the dividends are also taxed to the shareholder if that’s what you mean, and shareholders who are there for ROI will want to see their tax liability also passed on the consumer. I know that should I pay for a Whopper I’m also paying its real estate tax, and its fuel tax, and its FICA contributions, and its environmental tax, and tax, tax, tax. We’re taxed up the wazoo. So what’s so special about the corporate tax rate?

    nk (dbc370)

  61. We crossposted, Hoagie.

    nk (dbc370)

  62. “So what’s so special about the corporate tax rate?”

    nk – The U.S. corporate tax rate is the highest among OECD countries. Also, the U.S. is the only one to tax corporations on their global income, meaning they apply that tax rate to income earned overseas, offset by credits for local income taxes paid. No other OECD countries do that.

    By moving to Canada Burger King will still pay full U.S. taxes on its U.S. operations but it will not subjects itself to a potential 35% tax on the profits of its foreign operations. The tax position of its largely franchised U.S. operations remain unchanged. This is a tempest in a teapot but does a nice job of shining a spotlight on our uncompetitive tax laws.

    daleyrocks (bf33e9)

  63. Is that what happened, nk? Suddenly there was a flash, my life flew past my computer screen and I thought I did something wrong. I thought it was magnetic pulsing…whatever. I know as much about computers as I do about transplanting a brain so I’m sure it was something I did.

    In my defense I am distracted. We have some of “the girls” over from my wife’s salons. I’m surrounded by scantily clad young Asian chicks running around the pool. Plus, I promised them Uncle Hoagie’s famous South Philly style spaghetti with meatballs and hot Italian sausage. Two of them are staying the weekend. That means days by the pool, evenings at Philly Parx or Sugarhouse.

    Hoagie (4dfb34)

  64. Ag80 (eb6ffa) — 8/27/2014 @ 9:14 pm

    Speaking of Syria, just how many Americans are fighting on the ISIS side? Hey, at least they are not here. Yet.

    But many of them probably shall return if ISIS is destroyed. But that’s not a reason not to do it. In the meantime Obama temporizes – he’s OKayed reconnaissance flights, but bombing is a separate decision.

    Meanwhile Syria, supported by Russia, says any bombing needs their permission.

    All those kidnapped children by Boko Haram must be safe now because I haven’t seen any sad face Michelle tweets lately.

    They actually kidnapped more, of course, and overran more teritory.

    Wasn’t there something else? It happened in that country in the Marine song. I think it was sad. A bad thing did happen, right?

    Most westerners have evacuiated, the Parliament met in another city and the airport is destroyed. The other say, the United Arab Emirates and Egypt bombed the Islamists (in support of their own anti-Islamic militias, I think) and lied to the United States about it.

    It’s all good now, though. Our President has figured out a way to solve global warming It would help if Congress, or the House passed a resolution saying they will not be politically bound by anything he agrees to,. If not the candidates will have to say it. (Obama wants to sign somethibg that will not be legally binding on the United States, but his people, say it will be politically binding.

    and the illegal immigrant issue without Congress

    It seems like the Republicans are setting the stage for another shutdown that will be even harder to resolve than the last, because they want to tie something about immigration to it.

    while making sure the death of some guy in Missouri turns out the vote.

    I think Obama is just reacting to that – and doesn’t like this issue at all. he just won’t say or so the right thing – point out taht justice must be impartial, and there is no reason to supppose it won’t be and it certainly has not been unimpartial yet.

    Sammy Finkelman (7d0d47)

  65. * The other day, the United Arab Emirates and Egypt bombed the Islamists (in support of their own anti-Islamic militias, I think) and lied to the United States about it.

    Sammy Finkelman (7d0d47)

  66. 58. What we need in this country is more centralized government control over individual and business decision making because the government knows best.

    daleyrocks (bf33e9) — 8/28/2014 @ 11:22 am

    Hear, hear!

    What we need is more governmental activism that empowers the Occupy Wall Street types to make snuff films whenever they encounter the last remaining vestiges of private enterprise.

    Did you know drug companies can be sued for the harmful side effects of drugs they don’t even make?

    Yes, boys and girls, they can.

    Thank you government. Thank you leftists. That will drive R&D.

    Steve57 (99bd31)

  67. “Did you know drug companies can be sued for the harmful side effects of drugs they don’t even make?”

    Steve57 – This is America, you can be sued for anything!!!!!11ty!!!! I’ve seen manufacturers of products containing asbestos forced to pay damages to workers who could not even prove they were exposed to their products. The same plaintiff’s lawyers then tried to use the workers to double dip as silicosis claimants.!!!!!!”Merica Eff Yeah!!!!!!

    daleyrocks (bf33e9)

  68. 63. By moving to Canada Burger King will still pay …

    daleyrocks (bf33e9) — 8/28/2014 @ 11:46 am

    I am confuzzled on this point, to use a happyfeetism.

    Isn’t Burger King the kind of company we (meaning the ruling class) wants to kick out of the country? Michell Obama would never let the Burger King rule over an elementary school cafeteria. They’re larding up the population.

    Chick Fil A doesn’t belong in sophisticated places like Chicago or Boston because of the owners’ stance on gay marriage.

    And Hobby Lobby? Get out of town.

    What’s the beef? Aren’t these guys just getting the message? Fiscal or moral?

    Steve57 (99bd31)

  69. “It seems like the Republicans are setting the stage for another shutdown that will be even harder to resolve than the last, because they want to tie something about immigration to it.”

    Sammy – That’s the current Democrat narrative to generate outrage and voter turnout just like last month’s Republican’s want to impeach Obama narrative.

    daleyrocks (bf33e9)

  70. “Isn’t Burger King the kind of company we (meaning the ruling class) wants to kick out of the country?”

    Steve57 – In a few words, yes, they need to get moving, even if its is only the headquarters operations which just collects royalties from the restaurants.

    daleyrocks (bf33e9)

  71. I can’t think of a good reason why you’d start a company in this country. Starting with Sarbanes-Oxley, including Obama’s looting of Chrysler’s secured creditors in his bail out, and ending with Obamacare. With the recent Furgeson MO riots as an exclamation point.

    The wonder isn’t why Burger King is moving to Canada. The wonder is why there is anything left here at all.

    Steve57 (99bd31)

  72. “I can’t think of a good reason why you’d start a company in this country.”

    Steve57 – For the most part I agree, but if you’re a Democrat and you have a green idea for a company you can get a massive amount of financing from the government, steal it and flee the country to some place without an extradition treaty with the U.S., so there’s those reasons to do it, which are nice if you’ve got them going for you. :)

    daleyrocks (bf33e9)

  73. I suppose a leftist could try to argue the car company bailouts were, “Dude, like years ago.”

    Who can remember that far back? If it only happened once that might be true.

    Except Obama is still ignoring the law years later. See “immigration” and “health care.”

    Steve57 (99bd31)

  74. daley @73, I didn’t cover that part. I completely missed it. But you are right. If I were a rent-seeking crony hell bent on looting the tax payers while giving liberally (pun intended) to the Democrats with the expectation I’d get a pardon (see Eric Holder and Marc Rich) I’d start up a company.

    And if Holder was still the AG, I could start it up while fugitive.

    Steve57 (99bd31)

  75. *giving to the Democrats

    Steve57 (99bd31)

  76. 52. So your plea isn’t fairness versus inefficiency and fraud but just ‘his pocket not mine’.

    Glad we cleared that up.

    gary gulrud (46ca75)

  77. It might not be “fair” but it’s a lot more efficient in terms of raising revenue to send a tax bill to Warren Buffet than to Joe the Plumber. Fraud is what I’m mainly complaining about. It’s a fraud to say that 20% foreign ownership makes you a foreign corporation.

    nk (dbc370)

  78. If you love America, these are the tax rate you want:

    I didn’t know whether to punch my touch-screen (that’s a touch, isn’t it?) or laugh at the inanity and fascist tendencies that caused such a proclamation, swiftly followed by the isolationism that helped cause the Great Depression in the US and the depression (which wasn’t the Great Depression the US suffered) in the rest of the industrialized world.

    No, if you love America, just remove the corporate taxes altogether. It’s truly the consumers who pay those taxes and not the corporations.

    In my own dream-world daydreams, I envisioned being the owner of multi-national corporations and doing the vast majority of my business overseas, for the very tax crap the Left and Progressive Republicans (you were a better soldier than you were a president, Teddy) have foisted on us.

    John Hitchcock (5131d7)

  79. What’s the beef? Aren’t these guys just getting the message? Fiscal or moral?
    Steve57 (99bd31) — 8/28/2014 @ 12:47 pm

    Don’t you mean where’s the beef? And that multi-national started in Columbus, Ohio, (Dublin or Worthington or Westerville or Whitehall or or or, are all Columbus) should invert, too.

    John Hitchcock (5131d7)


Powered by WordPress.

Page loaded in: 0.3696 secs.