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Burger King, Eh?
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44 / M / WA
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Posted 8/26/14 , edited 8/28/14
Looks like Burger King is buying Tim Hortons (not yet finalized) and moving to Canada! I haven't been to BK in 30 years or so (Red Robin), but it is a bummer to see them move their corporate office. The two reasons given were 1: to expand their overseas business and 2: save big on taxes.

I don't blame Burger King - it is congress and the president that is to blame; the corporate tax rate in the U.S. is just too high - in my opinion it should be abolished or brought down to like 1% ...then companies would be moving here instead of from here!

It is not "corporate greed" but Governmental Greed that is the problem here, kudos to Burger King for making sound business choices and shame on Washington, D.C.!!
37409 cr points
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Posted 8/26/14 , edited 8/28/14
Ummmm..... If corporations don't pay taxes, then who'll pay to make up the difference? You and me, maybe? In fact, since the 1950's, corporate taxes have gone down, while individual worker's taxes have gone up. We pay about 40% Fed tax now. State tax depends on what state you live in. So, if Corporate taxation is abolished, our tax will have to go up to make up the difference.

Careful what you wish for.
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36 / M / Planet Sanno
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Posted 8/26/14 , edited 8/28/14
*headscratch*

40% is the top tax rate for individuals, Oats, the highest possible bracket. (During the Cold War, that rate was a lot higher; at one point, it was upwards of 90%.) Most of us here in the workaday U.S. pay about 10% (not including Social Security and Medicare taxes), and those of us who are in that bracket get most of that refunded when we do our returns.

The U.S. corporate tax rate is currently 35%, one of the highest in the world, which is why companies like Burger King are relocating in this way (i.e. tax inversion, as it is called). However, that rate is deceptive. Many U.S. companies pay no tax at all due to a significant number of exploitable loopholes, and it is because the feds are starting to close those loopholes that tax inversion is taking place. That, and the U.S. is one of the only countries in the world that expects domestic tax to be paid on foreign profits. By eliminating their domestic base of operations and relocating, a company avoids this unique rule.
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40 / M / Minnesota, USA
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Posted 8/26/14 , edited 9/3/14
A tax dodge is a tax dodge, it is a slimy thing to do. The US tax law is jacked up considerably, but a prime reason why reform doesn't happen is corporations fight it hard core whenever it is brought up. They would rather have exploitable loop holes than a fair across the board system.

I'm so tired of the freaking bitching about taxes. Man up, take some responsibility and pay your damn taxes. I watched people die in Iraq because they didn't have proper equipment, just a couple of years after massive tax cuts were made. I came back to a country where the average person contributed nothing towards two simultaneous wars, but all these people did was bitch like spoiled children. Not paying your fair share is the same thing as a handout in my book. I can understand people arguing about how the money gets spent, but trying to get out of your responsibilities as a citizen really pisses me off.

Burger King has a contract that allows them to be one of the few fast food joints on military bases. They go through with this and they damn well better lose that contract.
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55 / M /
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Posted 8/26/14 , edited 8/28/14
Many corporations don't pay ANY tax what so ever. Personally I want to remove every corporate loophole from the books. ONCE the corporations pay their fair share than we can see about adjusting the tax rate. Not before.
Sogno- 
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Posted 8/26/14 , edited 8/28/14
oh i read that in the paper this morning but didn't realize it was corporate moving i thought the Canadians had just been missing out on having BK's all these years
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25 / F / Canada
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Posted 8/26/14 , edited 8/28/14
Burger King is disgusting... I don't like McDonalds either, but it's still better than Burger King. The best is A&W
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Posted 8/26/14 , edited 8/28/14

Ithalea wrote:

Burger King is disgusting... I don't like McDonalds either, but it's still better than Burger King. The best is A&W :D


The BK Satisfries are really good. The only thing I want from BK.
Posted 8/26/14 , edited 8/28/14

Gafennec wrote:


Ithalea wrote:

Burger King is disgusting... I don't like McDonalds either, but it's still better than Burger King. The best is A&W :D


The BK Satisfries are really good. The only thing I want from BK.


I believe those fries are being discontinued and phased out of all locations.
Posted 8/26/14 , edited 8/28/14
economics is a really complicated thing. sure they could increase corporate taxes... but you know who suffers the most? consumers... which is everyone.

raised tax means raised prices as businesses don't pay the taxes. consumers have to pay all the taxes, production costs and ingredient costs and the little profit that businesses make. so increasing the tax for businesses means increasing the prices of goods and services. which means people are less likely to spend... which causes a bunch of other crap.


I'm so glad I quit economics... I can't deal with it. Glad I went with science instead, it makes perfect sense to me.
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Posted 8/26/14 , edited 8/28/14

justanotherguy_2005 wrote:


Gafennec wrote:

The BK Satisfries are really good. The only thing I want from BK.


I believe those fries are being discontinued and phased out of all locations.


Of course. I have a black thumb when it comes to stuff like that. If I like something it is sure to be cut from the menu.
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Posted 8/26/14

GayAsianBoy wrote:

economics is a really complicated thing. sure they could increase corporate taxes... but you know who suffers the most? consumers... which is everyone.

raised tax means raised prices as businesses don't pay the taxes. consumers have to pay all the taxes, production costs and ingredient costs and the little profit that businesses make. so increasing the tax for businesses means increasing the prices of goods and services. which means people are less likely to spend... which causes a bunch of other crap.


I'm so glad I quit economics... I can't deal with it. Glad I went with science instead, it makes perfect sense to me.


By the same token has giving the corporations major tax breaks and/or paying no taxes at all ever reduced the cost of ANYTHING to the consumer/customer? To be honest I don't mind corps paying a reduced tax if there is a tangible benefit to the public, but I despise the idea of corporations paying NO taxes.
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40 / M / Minnesota, USA
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Posted 8/26/14
The taxes have to come from somewhere. If Corporations pay less then everyone else pays more and vice versa. The effects on the economy either way are negligible. Increased prices have the same net effect as increased consumer taxes. What BK is doing is moving there HQ so they don't have to pay taxes on a part of their profits. However, they will continue to use most of the infrastructure and services that those taxes would pay for with no penalty. They've just become the corporate equivalent of the friend who refuses to pitch in to pay for the keg, or cab or whatever. The merger probably won't work anyway. I believe Tim Horton's has been swapped around the US fast food market before and spit back out.
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28 / M
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Posted 8/26/14 , edited 8/26/14

DeadlyOats wrote:

Ummmm..... If corporations don't pay taxes, then who'll pay to make up the difference? You and me, maybe? In fact, since the 1950's, corporate taxes have gone down, while individual worker's taxes have gone up. We pay about 40% Fed tax now. State tax depends on what state you live in. So, if Corporate taxation is abolished, our tax will have to go up to make up the difference.

Careful what you wish for.


There is absolutely NO reason for the US to have a 35% tax rate for businesses. That is one of the highest in the Western World. All it does is make businesses set up tax havens by moving HQ to other countries that have a much more reasonable tax rate. US Tax Code is also a complete disaster that is overly complicated and nonsensical as well as unwieldy. If the US was actually, you know, more COMPETITIVE in the world market this would not be an issue (like we used to be...) All that has to be done to fix this issue is lower the Corporate tax rate, close the very unfair loopholes put in place by politicians that were paid off by lobbyists that rig the game in their favor, and most issues like this would simply go away.

Also, lowering taxes for everyone would be a nice thing to have. Oh, and usually when businesses have more money to play around with, it encourages innovation and job creation (usually. Depends on the company.) Which usually means more people are getting jobs. Which means more people are paying taxes. Which means it doesn't matter. :/
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24 / F / Johnstown, PA, USA
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Posted 8/26/14
Let me get this straight; one of the most successful fast food chains in the world is moving to Canada to evade taxes? Pathetic. They're not relocating because they can't pay or are in a tight spot-- They just don't want to cough up more than they can weasel out of paying. This isn't a protest of tax rates or anything; it's simply a greedy food chain wanting to turn up as high a profit as possible.
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