Burger King Dares Obama To Stop It From Fleeing to Canada

[sana8410]

Not a BK fan, but they have every right to do what is best for their shareholders...earn as much money as possible.  Also interesting, that Buffet is in on this deal.  Kind of makes him a hypocrite since he's always lecturing on higher taxes.  Let's see if Obama pulls out his pen and phone.

Burger King Dares Obama To Stop It From Fleeing To Canada

Burger King’s plan to scurry across the Canadian border to avoid U.S. taxes could be seen as the corporate equivalent of flipping President Barack Obama the bird.

The White House vowed earlier this month to use an executive order to curb tax inversions -- deals in which U.S. companies buy smaller foreign firms in countries with lower taxes, then renounce their U.S. corporate citizenship and re-incorporate in that country.

Still, Burger King said late Sunday night that it was in talks to merge with Tim Hortons, Canada’s popular bakery and coffee chain. The new, combined company would be headquartered in Canada.


   http://www.huffingtonpost.com/2014/08/25/burger-king-obama_n_5709683.html?ncid=txtlnkusaolp00000592

[RodeoX]

How about we just don't let them back in?

I have zero sympathy for companies who expect handouts to stay in the U.S. I say let them set up in the Bahamas or wherever, then tax the fuck out of them as foreign businesses. That seems way better than our current system of rewards for moving jobs overseas.

[zolace]

This is exactly why Canada reduced their corporate tax rate, not only to promote their own businesses for growth but to draw US businesses. If Obama and congress had a fricken brain they'd realize that reducing corp rates would allow the kind of growth Canada has seen and certainly stop the bleeding of US corps that flee the US for better tax rates that make them more competitive.

[PeanutCoins]

Let us stop for a moment of silence to contemplate the gigantic stimulus to business to remain here and to move here if we would adopt the Fair Tax and stop punishing people who dare to achieve.

[Lethn]

How about we just don't let them back in?

I have zero sympathy for companies who expect handouts to stay in the U.S. I say let them set up in the Bahamas or wherever, then tax the fuck out of them as foreign businesses. That seems way better than our current system of rewards for moving jobs overseas.

Well done, you've just forced out 1000's of legitimate foreign businesses who might have otherwise thought about doing business in the U.S because of a few corporations dodging taxes, unless of course you're suggesting some kind of specific blacklist which would make a bit more sense.

Seriously though there are already companies that are refusing to do business with U.S citizens and boycotting them because of the regulations their governments have it's going to be even worse for the U.S if they make themselves unattractive as a tax option and deliberately target foreigners.

[umair127]

This is all bullshit and greed. Corporations in America HAVE recovered from the Bush era economic collapse. The only people still hurting are the working class and the poor, and that's neither because of the basic economy or because of US taxes - it's because of corporate greed.  You want to reduce US corporate taxes even more? Fine. I'd support that - IF in the same bill, tax penalties for US corporations who offshore and tariffs on imports from any country whose treatment of workers is even worse than ours are included.

[wenben]

This is all bullshit and greed. Corporations in America HAVE recovered from the Bush era economic collapse. The only people still hurting are the working class and the poor, and that's neither because of the basic economy or because of US taxes - it's because of corporate greed.  You want to reduce US corporate taxes even more? Fine. I'd support that - IF in the same bill, tax penalties for US corporations who offshore and tariffs on imports from any country whose treatment of workers is even worse than ours are included.

Should have never bailed any of them out and let all the corporations go into bankruptcy.

Those assets they hold can be chopped into pieces and be sold off separately to create more healthy competition.

[sana8410]

This is all bullshit and greed. Corporations in America HAVE recovered from the Bush era economic collapse. The only people still hurting are the working class and the poor, and that's neither because of the basic economy or because of US taxes - it's because of corporate greed.  You want to reduce US corporate taxes even more? Fine. I'd support that - IF in the same bill, tax penalties for US corporations who offshore and tariffs on imports from any country whose treatment of workers is even worse than ours are included.

BK has closed around 300 stores during that great recovery you claim obama the savior initiated in America after the housing crash caused by congressional over regulation and forced mortgage scam. The idea that if you tax corps to death while regulation them out of business makes for a good economy is a leftie wet dream that isn't based in reality. Google Canada tax reduction to get a look at what it did for their country's economy, then see CA's corp tax increase to see what it did to their economy.  The evil greedy corps you lefties despise are leaving the country, that should make you happy. Besides, it doesn't matter how much the government raises taxes or how much it takes in each year they have never come in on budget, always overspend and always just borrow more money for whatever they want without regard for fiscal responsibility or how much they're screwing the tax payers.

[zolace]

This is all bullshit and greed. Corporations in America HAVE recovered from the Bush era economic collapse. The only people still hurting are the working class and the poor, and that's neither because of the basic economy or because of US taxes - it's because of corporate greed.  You want to reduce US corporate taxes even more? Fine. I'd support that - IF in the same bill, tax penalties for US corporations who offshore and tariffs on imports from any country whose treatment of workers is even worse than ours are included.

No more whoppers for me.

Corporate citizens who flee this country should be ashamed of themselves.  And they get the benefits of being "citizens" from the Supreme Court.  At the very least, these "citizens" should not enjoy the rights of citizenship under Citizens United.

They make it  because of America and then they flip America the bird.  Now THIS is where shame should make its return, if anywhere.

[RodeoX]

How about we just don't let them back in?

I have zero sympathy for companies who expect handouts to stay in the U.S. I say let them set up in the Bahamas or wherever, then tax the fuck out of them as foreign businesses. That seems way better than our current system of rewards for moving jobs overseas.

Well done, you've just forced out 1000's of legitimate foreign businesses who might have otherwise thought about doing business in the U.S because of a few corporations dodging taxes, unless of course you're suggesting some kind of specific blacklist which would make a bit more sense.

Seriously though there are already companies that are refusing to do business with U.S citizens and boycotting them because of the regulations their governments have it's going to be even worse for the U.S if they make themselves unattractive as a tax option and deliberately target foreigners.

It would be tricky of course. But there has to be some kind of disincentive. Without one I see no reason for most businesses to remain in the U.S.  Not that many companies pay anything close to the stated tax rate.

[RodeoX]

...
Corporate citizens who flee this country should be ashamed of themselves.  And they get the benefits of being "citizens" from the Supreme Court.  At the very least, these "citizens" should not enjoy the rights of citizenship under Citizens United.
...

True that! What kind of citizen can make a fortune without paying taxes? Oh, and can't be sued as a citizen? A corporation.
I should inc. myself and live above the law! 

[Chef Ramsay]

They totally should reduce corporate tax rates to not only keep places like these from leaving but to also get corps to bring offshore money back home for investment purposes. Rand Paul has been advocating this since he's been in office but let's face it, it doesn't really matter to these corporations since there's always somewhere else to go or to stash your funds.

[Mike Christ]

How about we just don't let them back in?

I have zero sympathy for companies who expect handouts to stay in the U.S. I say let them set up in the Bahamas or wherever, then tax the fuck out of them as foreign businesses. That seems way better than our current system of rewards for moving jobs overseas.

Well done, you've just forced out 1000's of legitimate foreign businesses who might have otherwise thought about doing business in the U.S because of a few corporations dodging taxes, unless of course you're suggesting some kind of specific blacklist which would make a bit more sense.

Seriously though there are already companies that are refusing to do business with U.S citizens and boycotting them because of the regulations their governments have it's going to be even worse for the U.S if they make themselves unattractive as a tax option and deliberately target foreigners.

It would be tricky of course. But there has to be some kind of disincentive. Without one I see no reason for most businesses to remain in the U.S.  Not that many companies pay anything close to the stated tax rate.

We could always threaten to kill their corporate leaders if they leave

Perhaps what you mean to say is, there has to be some kind of incentive for them to stay; one such incentive is to loosen up on the empire-level regulation and tax-rates for everyone, so people can actually breathe easy and do, well, business again.

There is one alternative, however, if nothing budges: the complete socialization of business.  Of all I've read on the subject, that has a 100% chance to turn out very badly for everyone involved; by very badly, I mean widespread cannibalism because everyone's starving and can't do a thing about it.

The reason why "don't let them back in" is not a valid disincentive is because, if they wanted to be in, they wouldn't be leaving in the first place; you may not have noticed, but America's not exactly on the road to the golden ages.  To further tax them even while they don't operate in America is like taxing a Swedish company because they might be an American company someday; if they're not American anymore, leave them alone.  If I was them, I'd liquidate and start fresh; it's reasons like that America was formed in the first place, taxation without representation and a fucked up banking system.

[bigtimespaghetti]

So many statists.. Where to begin? Oh well, enjoy the engineered decline. I know I am here in the UK.

[Spendulus]

So many statists.. Where to begin? Oh well, enjoy the engineered decline. I know I am here in the UK.

I guess also, there would be a lot of new jobs created to "hide the decline."

lol...

[Kluge]

Corporations are government entities, a completely artificial construct with arbitrary rules. Nobody gives half a shit about Burger King's corporate jobs, while the actual jobs are provided by franchisees, not franchisers who suck up all the profits - and nobody cares about BK's pissant lobbying money -- it's idiotic for them to try to "outwit" government rules. It's not like anyone thinks of BK as some type of principled, radical company, and it doesn't take more than a few neurons firing to realize they're just looking to suck as much money out of people as possible without regard to consequence for others.

It'd never happen even though the legal framework of the US has been thrown out the window with this "executive order" horseshit, but I'd be pleased enough to see the USG nationalize US BK franchises without compensation if BK goes through with this. Sell the food at-cost, raise its health standards, and disallow BK, TH, or any subsidiaries from ever opening a shop in the US again. Our government never gets offended enough to do something like that because they're soulless ostriches.

[Lethn]

How about we just don't let them back in?

I have zero sympathy for companies who expect handouts to stay in the U.S. I say let them set up in the Bahamas or wherever, then tax the fuck out of them as foreign businesses. That seems way better than our current system of rewards for moving jobs overseas.

Well done, you've just forced out 1000's of legitimate foreign businesses who might have otherwise thought about doing business in the U.S because of a few corporations dodging taxes, unless of course you're suggesting some kind of specific blacklist which would make a bit more sense.

Seriously though there are already companies that are refusing to do business with U.S citizens and boycotting them because of the regulations their governments have it's going to be even worse for the U.S if they make themselves unattractive as a tax option and deliberately target foreigners.

It would be tricky of course. But there has to be some kind of disincentive. Without one I see no reason for most businesses to remain in the U.S.  Not that many companies pay anything close to the stated tax rate.

We could always threaten to kill their corporate leaders if they leave

Perhaps what you mean to say is, there has to be some kind of incentive for them to stay; one such incentive is to loosen up on the empire-level regulation and tax-rates for everyone, so people can actually breathe easy and do, well, business again.

There is one alternative, however, if nothing budges: the complete socialization of business.  Of all I've read on the subject, that has a 100% chance to turn out very badly for everyone involved; by very badly, I mean widespread cannibalism because everyone's starving and can't do a thing about it.

The reason why "don't let them back in" is not a valid disincentive is because, if they wanted to be in, they wouldn't be leaving in the first place; you may not have noticed, but America's not exactly on the road to the golden ages.  To further tax them even while they don't operate in America is like taxing a Swedish company because they might be an American company someday; if they're not American anymore, leave them alone.  If I was them, I'd liquidate and start fresh; it's reasons like that America was formed in the first place, taxation without representation and a fucked up banking system.

The best part about this "If you don't like it then leave" mentality everyone who is for this kind of system we have now is pretty soon everybody will and they'll take all their capital with them and soon they'll all be begging for us to come back to get the economy moving again since they have no one to tax I know I'm probably just going to fuck off to Japan if I ever earn enough that I break the tax threshold in my country, why stay here with the hyperinflated housing prices when I can get a detached house for half of what it costs here?

[TaunSew]

I read about this on another forum.  It's not the corporate tax but the US taxing oversea corporate income which is the issue here.  It's also just the head offices which only employ dozens or hundreds.

Corporate taxes are lower in Canada, do not tax oversea corporate earnings and white collar professionals are cheaper to hire in Canada.  An Accountant Controller working for a huge international company like BK in the United States can command like $300K in benefits but their Canadian equivalent will only receive like half of that.  Part of that has to do with the health insurance but also just the hiring competition in the US between all the large corporations for the few white collar professionals.  The end extent of this certain companies like Microsoft, IBM and Google sign agreements with each other to not "poach workers".


This is expected when signing NAFTA and the emergence of the digital age - American workers became too expensive to employ.  All the blue collar work went to illegal Mexicans or people in Mexico; all the white collar work is slowly migrating to Canada where educated white collar professionals are abundant and don't command wallstreet compensation.

[arbitrage001]

So many statists.. Where to begin? Oh well, enjoy the engineered decline. I know I am here in the UK.

How is UK compare to US? Last I heard, the financial center in London is leaving to Shanghai and Hong Kong.

When the world turn global, it shouldn't surprise anyone corporations will move to where the lowest tax rate is.

[countryfree]

I'm happy BK is moving to Canada.
It's a scheme that's called competition. Corporations, and a few individuals like me, have changed country because of various advantages like lower taxes. The US has every right to lower its tax burden, or see all its largest corporations and wealthiest individuals move away. This is happening in Europe too, where thousands of French have left their country for Switzerland or the UK.