Burger King Moves North to Canada for Tax Reasons.

[percysunshine]

Nope. The US does double taxation. Why do you think corporations are doing this? It isn't because Canada is a nice place to live...even though it is.

I suspect that even Kas will back me up on this. Again, US earnings are taxed at US rates. Foreign earnings stay in the foreign country of the company headquarters, and are not taxed in the US unless transferred back to the US.

Correct. However, the Horton repatriated earnings are not taxed a second time by the Canadian governmnet after the US government takes their slice of the pie.

The specific rates are not very material.

 

[kaz]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

Actually, the current tax rate was set in 1986, signed into law by Saint Reagan himself.

And Reagan said not to respond if the rest of the world lowers tax rates? Can you show me that quote?

 

[Vandalshandle]

Correct. However, the Horton repatriated earnings are not taxed a second time by the Canadian governmnet after the US government takes their slice of the pie.

The specific rates are not very material.

I don't know what you are trying to say. Nobody is double taxing anybody. Based on what I read in Time this week, BK is merely looking to shelter earnings from foreign countries, by moving their headquarters to Canada, through this merger, in which case, all foreign earnings will then be Canadian taxable. US earnings are not affected.

 

[Darkwind]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

Actually, the current tax rate was set in 1986, signed into law by Saint Reagan himself.

So, he claims that the President does not set tax rates, and that is correct. You mention Reagan for whatever reason I cannot fathom since this is not about the President.

Vandalshandle made reference to the House of Representatives of today, to which I replied. How does what the congress of 1986 pertain to making the claim that today's republicans are somehow responsible for today's corporate tax rate?

 

[kaz]

Correct. However, the Horton repatriated earnings are not taxed a second time by the Canadian governmnet after the US government takes their slice of the pie.

The specific rates are not very material.

I don't know what you are trying to say. Nobody is double taxing anybody. Based on what I read in Time this week, BK is merely looking to shelter earnings from foreign countries, by moving their headquarters to Canada, through this merger, in which case, all foreign earnings will then be Canadian taxable. US earnings are not affected.

US earnings are not effected, but by moving to Canada, they will be able to move money earned outside the US to the US without paying a 35% tax on it. How screwed up is that? Obama, Harry and Nancy have to fix that. No other western power is that stupid to prevent their companies from repatriating money earned overseas.

 

[Pogo]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

Actually, the current tax rate was set in 1986, signed into law by Saint Reagan himself.

And Reagan said not to respond if the rest of the world lowers tax rates? Can you show me that quote?

Sure.

And Reagan said not to respond if the rest of the world lowers tax rates? Can you show me that quote?

 

[Vandalshandle]

So, he claims that the President does not set tax rates, and that is correct. You mention Reagan for whatever reason I cannot fathom since this is not about the President.

Vandalshandle made reference to the House of Representatives of today, to which I replied. How does what the congress of 1986 pertain to making the claim that today's republicans are somehow responsible for today's corporate tax rate?

My position is that both houses of congress must agree on a tax bill. I did not blame republicans. But I also reject the claim that it is Obama's fault. Congress can not even agree on whether it is snowing In D.C or not, in July.

 

[NYcarbineer]

All the more reason to raise the minimum wage.

 

[theDoctorisIn]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

Actually, the current tax rate was set in 1986, signed into law by Saint Reagan himself.

So, he claims that the President does not set tax rates, and that is correct. You mention Reagan for whatever reason I cannot fathom since this is not about the President.

Vandalshandle made reference to the House of Representatives of today, to which I replied. How does what the congress of 1986 pertain to making the claim that today's republicans are somehow responsible for today's corporate tax rate?

I mention Reagan because he demanded that the Tax Reform Act of 1986 be revenue-neutral or he'd veto it - so corporate taxes were raised to cover the lowering of individual income taxes rates.

That was Reagan's great "tax cut" that you guys always talk about.

 

[Darkwind]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

Actually, the current tax rate was set in 1986, signed into law by Saint Reagan himself.

So, he claims that the President does not set tax rates, and that is correct. You mention Reagan for whatever reason I cannot fathom since this is not about the President.

Vandalshandle made reference to the House of Representatives of today, to which I replied. How does what the congress of 1986 pertain to making the claim that today's republicans are somehow responsible for today's corporate tax rate?

I mention Reagan because he demanded that the Tax Reform Act of 1986 be revenue-neutral or he'd veto it - so corporate taxes were raised to cover the lowering of individual income taxes rates.

That was Reagan's great "tax cut" that you guys always talk about.

So, it had no bearing on My reply to Vand at all...got it.

 

[theDoctorisIn]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

Actually, the current tax rate was set in 1986, signed into law by Saint Reagan himself.

So, he claims that the President does not set tax rates, and that is correct. You mention Reagan for whatever reason I cannot fathom since this is not about the President.

Vandalshandle made reference to the House of Representatives of today, to which I replied. How does what the congress of 1986 pertain to making the claim that today's republicans are somehow responsible for today's corporate tax rate?

I mention Reagan because he demanded that the Tax Reform Act of 1986 be revenue-neutral or he'd veto it - so corporate taxes were raised to cover the lowering of individual income taxes rates.

That was Reagan's great "tax cut" that you guys always talk about.

So, it had no bearing on My reply to Vand at all...got it.

Not really, no.

 

[Darkwind]

So, he claims that the President does not set tax rates, and that is correct. You mention Reagan for whatever reason I cannot fathom since this is not about the President.

Vandalshandle made reference to the House of Representatives of today, to which I replied. How does what the congress of 1986 pertain to making the claim that today's republicans are somehow responsible for today's corporate tax rate?

My position is that both houses of congress must agree on a tax bill. I did not blame republicans. But I also reject the claim that it is Obama's fault. Congress can not even agree on whether it is snowing In D.C or not, in July.

There were two full years during this administration, where tax rates could have been altered without fear of Republican interference.

I'll be fair and say that there were a number of years under Bush when the Congress could have done something about the tax rate, and they did. I hear the left whine about incessantly even today after those cuts have been repealed.

The point of the thread is that corporations are looking to protect their shareholders by fleeing an oppressive tax structure and that if we did away with governmental greed, they'd continue to do business in this country.

 

[Lakhota]

It's very un-American and unpatriotic that the large corporations that benefit the most from American infrastructure, paid for by taxpayers, want to avoid paying American taxes.

 

[Vandalshandle]

Well, then, I strongly advise republicans to write their representatives and ask them to pass a bill lowering corporate taxes on foreign earnings, and send it to the senate. That way, if the senate does not pass it, they can blame the democrats.

 

[Pogo]

The point of the thread is that corporations are looking to protect their shareholders by fleeing an oppressive tax structure and that if we did away with governmental greed, they'd continue to do business in this country.

Yet no evidence has been presented that taxes have anything to do with this. The point of this thread is pure speculation.

 

[HenryBHough]

Once you understand that Obama (Our Kenyan President, aka "OKP") believes profits are obscene and the only beneficiary of any transaction must be government then you can come to grips with why businesses are fleeing.

Until then, pay up and shut up.

 

[percysunshine]

Correct. However, the Horton repatriated earnings are not taxed a second time by the Canadian governmnet after the US government takes their slice of the pie.

The specific rates are not very material.

I don't know what you are trying to say. Nobody is double taxing anybody. Based on what I read in Time this week, BK is merely looking to shelter earnings from foreign countries, by moving their headquarters to Canada, through this merger, in which case, all foreign earnings will then be Canadian taxable. US earnings are not affected.

Ok, I have a lemonade stand in Calgary. I buy enough lemons and water and sugar in Calgary to make a glass of lemonade. It costs me 25 cents. I sell the glass of lemonade for 50 cents and book 25 cents profit, The Canadian government taxes that and takes 10 cents. I have 15 cents left. As soon as I drive back to Great Falls Montana, the IRS meets me at the border and wants another 11 cents. I have 4 cents left.

In the reverse situation, I purchase the raw materials and sell a glass of lemonade in Great Falls Montana, and drive back to Calgary, I do not pay tax twice. The IRS gets 11 cents, and the Canadian revenue service is happy that I am bringing money into the country to spend in the local economy.

.

 

[EdwardBaiamonte]

I don't know what you are trying to say. Nobody is double taxing anybody. Based on what I read in Time this week, BK is merely looking to shelter earnings from foreign countries, by moving their headquarters to Canada, through this merger, in which case, all foreign earnings will then be Canadian taxable. US earnings are not affected.

1) deal is not a tax shelter in that there are no tax advantages to BK

2) US is one of 5 to double tax or use territorial system i.e., you pay tax of country where where profits are earned and then you pay US tax when you bring profits into US.

 

[Rikurzhen]

I don't start a thread without backing up my point. How 'bout chew?

And what does a political philosophy -- which you claim to aspire to -- have to do with ability to back up one's point?

Why didn't you put this link in the OP? Too weak?

So if I start a thread on WWII, you expect a link that we fought the Nazis and we won? Go to google and type in this, "Burger King Canada Taxes" and you will get a plethora of articles. After that, you can ask me to fill your bathtub with hot water for you...

I see the phrase "too weak" was itself too weak. Ironic, that.
You made the assertion; creating an entire new thread. Who do you expect is supposed to back it up? The BK king? Burden of proof is on the asserter. That would be you. It's not my point, is it?

Why do you need your hand held putting a thread together?

It's rich that you're the one writing about proper debate etiquette after running away from your own debate crimes.

 

[Darkwind]

Well, then, I strongly advise republicans to write their representatives and ask them to pass a bill lowering corporate taxes on foreign earnings, and send it to the senate. That way, if the senate does not pass it, they can blame the democrats.

I write them frequently about lowering taxes across the board, not just for corporations.