Burger King is close to a deal that would acquire Tim Horton’s (Canada’s huge corporate version of Dunkin’ Donuts). It is more than a corporate expansion however. The move would allow Burger King to justify a “tax inversion” where an American company merges with a foreign company and then reincorporates abroad to fell under a more beneficial corporate tax rate. So long as shareholders of the Canadian companies end up owning at least 20% of the shares of the new parent company, you can escape the high corporate tax rate. I have previously criticized the corporate tax rate — and tax policies in general — as irrational in light of the lower rates in nearby countries. During the last campaign, even Obama admitted that our corporate tax rate is too high but there was never action to reduce it. The White House however recently asked for legislation to stop the inversion maneuver while Senator Sherrod Brown is calling for a boycott of Burger King.
We have previously discussed tax policies on this blog, though I am in the minority in criticizing the rising tax rates in states and cities. I have long been more conservative on tax and spending issues than many here, but I have enjoyed the different viewpoints. Companies and citizens are rational actors. When cities and countries have raised taxes to unacceptably high levels, they have seen an exodus of top taxpayers (which worsen the over tax base). Almost fifty companies have carried out inversion to avoid our high corporate rate and the pace is quickening.
Unfortunately, it remains popular to blame top earners and companies for not paying enough and to seek higher and higher taxes like they are a captive audience. The result of this approach has been disastrous in France. As they previously discussed how top earners are fleeing France in the wake of massive tax increased under Socialist French President Francois Hollande. Hollande’s popularity is now down to the teens (17 percent) and more importantly his economy is on life support. He just dissolved his government as businesses shutdown in the country and his economy contracts. The European Union is demanding reforms from the high spending and high tax approach.
In our country, we have continued to ignore the fact that other Western countries offer a far better deal for corporations. Canada’s corporate rate is 15%. Even when you add the 11.5% rate for Ontario, that is just 26.5% compared to our rate of 35%.
In a comparison of developed countries to what companies pay in the U.S., Canada requires only 53.6% of the U.S. tax burden while the U.K. is only 66.6% and the Netherlands require only 74.5%.
None of this tends to matter when politicians continue to campaign on the notion that corporations are not paying enough taxes and corporate welfare. I agree with some of these criticisms of tax loopholes and I have been a critic of government buyouts and subsidies. However, tax politics continues to rage in the absence of objective discourse. We cannot expect large corporations, particularly publicly held corporations, to remain headquartered in this country when our allies offer substantially lower tax burdens. That does not mean that we should engage in a race to the bottom with the Harper Administration in Canada. We still have many things to offer companies, but the rate of inversions is precisely what many people warned about when our corporate rate outpaced many of our Western partners.
The true impact of these tax policies will be brought home when they start serving mayonnaise with the fries at BK.
Source: Forbes
Do you not understand – that the RICO Act was made for this specific case?
As per U.S. Supreme Court Sedima v Imrex
https://bulk.resource.org/courts.gov/c/US/473/473.US.479.84-648.html
Al Capone could NOT be taken down by local law enforcement;
including federal agents and agencies.
It took outside intervention and he was nabbed for Tax Evasion
(how apropos is that)!
——————————————————–
You are being – freely given – a ring side seat to one of the biggest stories of all time (a RICO boss who almost/can – become POTUS)
being taken down by his own hubris and the inflexible sword of truth.
And you desire (instead) – to throw the box seats away;
and have the home team quit the Superbowl.
That’s what’s truly amazing…..
Fruitless endeavor – REALLY!
27 ppl in jail – including Larry (Reservitz) Reynolds
(maybe not for my daughter – but there all the same)
Marc Dreier arrested and jailed.
Tom Petters Ponzi – DONE!
Rothstein scam – DONE!
Palm Beach Links Capital – DONE!
Frank Vennes (though it took longer cause his son worked for GWB)
DONE…….
Hutchin’s Wheeler firm Closed.
Dewey LeBeouf – CLosed (more thanks to BankruptcyMisconduct.com)
Traub Bonacquist & Fox – DONE!
Dreier LLP – DONE.
Lawrence Friedman as DOJ Deputy Director – Exec. Office US Trustee’s
RESIGNED (right after he emailed me a promise and I found more frauds)
Public Corruption Task Force – CLOSED (Los Angeles)
President Corp Fraud Task Force Debra Yang and USAG Ashcroft
get $50 million – NO BID contract from US Att Chris Christie (Exposed)
WSJ – July 2005 – eToys investors claim conflict at law firm
Rolling Stone September 2012 – “Greed and Debt”
March 2013 – NY Times “Rigging the IPO Game” eToys case
October 2013 – Romney Slapped/Sued Racketeering
Marty Lackner purported suicide soon to be fully investigated
John (Jack) Wheeler – murder, soon to have federal investigation
Though there are nearly a thousand other things (Judge’s promoted OFF the case – FBI agents promoted OFF – US Att lead investigators Promoted OFF)
The REAL biggie
Pitten’s didn’t make it in 2012 and (if this case continues) –
Won’t make it in 2016?
Doesn’t matter that Mother Jones and Boston Globe argued who gets credit
(when I gave them the information – years before)
It is a miracle that I’m still alive; but my following is growing.
(Including Congress’s paper “THE HILL” now follows me on Twitter)
If I sat back and shut up so that you all wouldn’t have to see n hear what you don’t want to – because your rule book says a victim should take it and smile
Then all those events up there – might not have happened.
Including the fact that Lawrence Friedman went to Bader Company;
and did his own Off Shore IRS, ESOP – Insurance fraud schemes
Plus – other stuff – like my helping give Meryl Lanson HOPE
and her keeping me from going in directions they tried to force me to go.
Wonderful people (including Washington, D.C. folks high up);
who hope n pray – every day – that justice, here – may come.
Ignore my postings – if you so wish;
but never presume you could EVER cause me of this quest to relinquish!
I’m in a noble battle that I only earned; because I turned down a bribe to become partners (with then seeking Governor guy). Everything on G-d’s green earth said Laser the Liquidator, the opportunist – should have taken the bribe.
Not for a single nano-second, did I consider selling out those who hired me.
And – YES – if this case be my life’s end, all that anyone would look down upon
I do so gladly!
Paying SO many prices – already;
that you would be ashamed of yourself – for even suggesting – if you knew.
what you call a waste of time and selling my life cheap
I consider this case/battle a badge of honor – that I’m blessed by G-d to have!
The fact that I’m doing it all alone – considering the issues at hand;
now that’s what is REALLY – mind boggling….
You know, I’m not going to pass judgment on what’s obviously a pending civil matter, or at least I think it is. Did you know something interesting Laser? When I was on my ipad and using yahoo, I searched the email address and without getting halfway through your name, the search engine already suggested that I search for email address romney. Fairly interesting, but believe it or not I can tell from your pleadings that you must be a fairly smart guy and I’ve been guilty about this in my life as well. I can’t tell YOU what’s important to YOU, that’s up to YOU, but at the end of the day they’re going to throw us into a hole and pretty soon we’ll probably be forgotten. Is this what you want your life to be about? Don’t let it be a fruitless vendetta, you’ll wind up selling your life cheap. As you say yourself, “Litigant is “pro se” party, woefully inadequate as an amoeba, against a horde of ruthless Goliath’s.”
to wit….pick your battles carefully.
Good luck, laser. And, enjoy the rest of your life.
If your not assisting the quest to point out the truth about Tomney n his RICO gang
You are thereby allowing him to continue
Especially when you seek to silence the truth!
laser, When you become immersed in a personal issue you create a bunker mentality. It becomes me vs. world. A recent example is your thinking that because I’m pointing out your insular Romney/Bain screeds means I’m a Romney guy. I AM NOT! There are 8-10 folks here w/ whom I do not engage. The zen like patient man, Darren, has been trying to reason w/ one. My skills affords me the ability to see those who are just unable to be reasoned w/, to have just a normal discussion. I don’t want to put you on that “do not respond or read”list. I see you’re intelligent. You have a good sense of humor, not sophomoric, but sharp. But maybe the biggest reason is I always have a place in my heart for the quixotic, having a bit of that in me. I’m guessing you don’t remember, but I have expressed to you my support on your life’s issue early on when you arrived. PaulS, or someone, talked about setting up a fund to help and I am on the record as supporting it. I absolutely support your going after Holder. My point was simple. If all you do is talk about one issue then people will tune you out. You’ll become one of the people that not only I, but most everyone, skips over, saying “Oh, laser..next comment.” Like I said earlier, I have always been the guy who says the tough things. What needs to be said but no one wants to say. When I write, people read it. When I speak, people listen. I’m just trying to get you there too. I’m wise enough to know “The road to hell is paved w/ good intentions.” This may be an example. But the question you have to ask yourself is, what are my intentions? Why have I just not ignored you? I sometimes say regarding the buffoons I ignore, “You never get that time and effort back, it’s gone forever.” I’m spending time and effort here.
Annie;
They are decent – just misguided.
I (used to be) an indoctrinated, die hard, homophobic, RWNJ.
Good people – can become enlightened.
Keep the faith – and (try harder) not to get ensnared.
Thanks Darren
– for the retrieve – (and the effort to keep civility going)
Thanks Laser, you want to make me cry? I’m a tough old lady, but some days I wonder about my theory that everyone is basically decent deep down.
Annie;
You just have to NOT take it personal.
It is obvious that you are extremely intelligent and logical. As Darren stats “Take the High Road”; because you have the ability to be greater.
He (and I, plus others) – are already on your side.
Your antagonists wouldn’t agree with you – if you have video proofs!
Again, a commentator can choose not to go about engaging in unsavory behavior. There is nothing stopping this from happening by others. How others feel is not something to concern yourself with.
You might discover that investing so much energy in demanding satisfaction at the expensive of engaging in duels with others can be injurious. So much energy that pertinent beliefs to the topics at hand never are provided to the world because you spend all your time engaging in demanding satisfaction. The only thing that third parties will see is two or more constantly fighting each other demanding that the other be sanctioned despite both engaging in the same behavior.
Additionally whoever it might be that is lobbing insults at their nemesis might actually have less of a need to argue when they do not continue to fight themselves. Not fighting often brings on less fighting by the other.
Again, it ain’t that hard. Take a higher standard. Who cares about the other person’s behavior. There internet is cursed with millions of lamers, why give them the power to make you angry?