Have It Your Eh? · 1:37am Aug 27th, 2014
So, apparently Burger King has decided to purchase Tim Horton's and move its corporate headquarters to Canada. There are a lot of people hemming and hawing about what this says about American corporate tax policies, but what I want to know is whether or not Burger King will be serving poutine and other stereotypically Canadian dishes now that they're a Canadian restaurant.
Well, Tim Horton's is a donut chain, so I'd expect Burger King to start selling those instead...
Burger King has tried repeatedly to vary up their fries. I wouldn't be surprised if they tried poutine next. It might even be
goodedible.THE CANADIANS ARE STEALING BURGER KING! RUN!!!!!!!!!!!!!!!!!!!!!!!!!
It always amuses me in news stories like this where people huff and puff about a company 'not paying their fair share' as if their paying one dollar out of every three of profits is somehow wallowing in Scrooge's money bin. The one question I've found that shuts 'em up good is to ask "What would you consider a fair share to pay in taxes for your income?" Since most of the most vocal don't pay income tax in the first place...
(Disclaimer: A new Chic Fil A just opened in town. I don't care about their politics, just their chicken, and it's uuummmmmm good, which may be affecting my posting tonight )
The name is more appropriate now, seeing as it moved to part of the British Commonwealth.
2404418
Tried and failed, studies have shown it's still one of the most unhealthy fries to ever grace fast-food restaurants...
2404529 You're lucky you've never tried that question on me. You'd have been swiftly schooled in the enormous fallacy you commit by comparing an individual's personal taxes to a business' taxes (to say nothing of your implied assumption that "income tax" is the only kind of tax burden US citizens have).
2404529 the nominal corporate tax rate in the US is 35%, but because our tax code contains so many loopholes, the average effective tax rate is much lower - 12.6% in 2010, according to the GAO.
BK already serves poutine in Canada, so I'm gonna guess "no change".
2405177
But that's not what BK pays. Because you can't launder whoppers through Bermuda the way tech and drug companies can, they have access to far fewer loopholes and pay 27%, bringing the average up by counterbalancing the companies like Verizon which loophole their way to the government paying them 2.8%.
2404895 - Actually, as I understand it, Burger King's decision to move to Canada has less to do with specific tax rates and more to do with the fact that the Canadian government only charges corporate income taxes on money earned in Canada. While headquartered in America, BK had to pay income taxes on all income to the American government regardless of whether that income was earned in the United States, or in another country (where the taxes collected by the American government do not pay for the infrastructure that made that income possible). This was in addition to paying the corporate taxes of the countries where that income was actually earned. Now, they only have to pay the American government for money earned in the United States.
It's all rather confusing and headache-inducing, though, so I could very well be misunderstanding matters.
I just hope I can get some friggin Tim Horton's Coffee down here because of this.
2406152 2405177 2404895 Exactly correct, Kwakerjak. There's a very informative article linked by Instapundit here from Bloomberg News (Yes, I know. Informative and Bloomberg don't go together, but I digress). And it's far worse if you're a US citizen who works abroad.
Interesting snippet: The U.S., unlike most developed-world governments, insists on taxing the global income of its citizens and corporations that have U.S. headquarters. And because the U.S. has some of the highest tax rates in the world, especially on corporate income, this amounts to demanding that everyone who got their start here owes us taxes, forever, on anything they earn abroad.
And something comes along to make the product placement in Iron Man even more awkward, not to mention ironic.