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Topic Title: Tax Inversion
Topic Summary: Have it your way?
Created On: 08/26/2014 07:57 AM
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 08/26/2014 07:57 AM
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Zeus

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There’s a situation developing with Burger King that might be worth watching.  Many here probably aren’t aware that Burger King is in talks to buy up Tim Hortons of Canada, not only to create one of the world’s largest food companies, but also to reincorporate in Canada where their corporate taxes would be drastically reduced.  This is an economically sound business practice which would raise shareholder value, lower operating costs and increase competiveness.  In this case it is clearly evidenced by the large financial backing received from Warren Buffet’s Berkshire Hathaway.  The practice of moving offshore to lower a corporate tax base is referred to as a corporate inversion and only becomes viable when the majority of sales are abroad.  Because of the BK case the practice is being criticized by the current administration as well as threatened with executive action solely to stop the loss of federal revenue.

 

You’re probably wondering why this will be worth watching.  First I’d say it’s a good portal to view the current business environment and economic vitality of the nation through.  Then I’d say it should serve as example of why big corporations should get tax breaks and credits, for it is better to derive less revenue from many healthy corporations, than it is to derive a lot from a diminishing few.  Next, it will likely serve as another lesson on why it is better to foster a healthy environment for business and industry, rather than tax and regulate them to the point of driving them abroad.   Also we should all be interested in what kind of constitutional executive action could be taken to discourage corporate inversion.  Last and certainly not least, it’s a good demonstration of the massive riff between conservative and liberal economics.  I hope the right people take notice.

 08/26/2014 08:35 AM
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Greensleeves

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Stock holders of BK (not me unfortunately) received a 20% stock increase yesterday on the news.

 08/26/2014 08:46 AM
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scombrid

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Don't want taxes and regulation to be punitive to the point that business just ups and leaves.  Yeah. Everybody agrees with that.

Butt.  There's always a but.

At what levels are the international bars on taxes and regulations to be set? 

Do we set environmental regulations at China/3rd World levels in hopes to bring more manufacturing back here?

Do we cut tax rates below that of Ireland?  What then stops Ireland from going even lower to undercut our bid? 

There is a balance to be had but I don't hear any talk of such from the anti-taxers. It seems they're happy with multinational corporations merging and growing to a point that they become their own governments via their influence on politics in the countries in which they wish to operate, that is unless the corporation is Monsanto. 

]for it is better to derive less revenue from many healthy corporations, than it is to derive a lot from a diminishing few.

What is to prevent many from becoming less via mergers and then using their new found leverage to coerce countries to host them for free? 



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 08/26/2014 10:11 AM
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3rdworldlover

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More good reasons to support locally owned businesses.

 08/26/2014 10:50 AM
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tpapablo

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Businesses are doing this for the same reason people are leaving California, NY and all the other anti-business states. We are over taxing and over regulating and this is what happens. Put another way, this is what happens when dem policies are implemented.  

In answer to Scombrid, we should cut corporate taxes to zero.



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 08/26/2014 12:04 PM
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Zeus

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I'm no fan of BK, but this will prove to be a turning point.  In response to Scombrid -

US Corporate tax rates should be at competitive levels internationally, rather than teh current punitive levels.  I see worrisome greed in the federal government these days, while at the same time the current admin tries to have us believe all greed is at the corporate level. Hypocritical is it not?

Environmental regulations should be tempered with prosperity in mind.  There can be nothing without first securing prosperity.  The EPA is currently out of control and mindful of only thier own prosperity.

Nothing stops Ireland from undercutting the US.  That is what fair trade is all about.  Where as the fed is seemingly handicapping this nation economically.

There was no mention of anti tax, just fair and competitive taxation, I fully support tax credits for earnings abroad, because without such there would be over burnening double corporate taxation and unfair subsidized foreign competition.

Fair business competition is the best defense against greed.  When one becomes too big and too greedy, competition will naturally arise.  You sir seem to assume profitable businesses are evil.  While this is not universally untrue, it is also not true that being profitable is evil.

 08/26/2014 12:43 PM
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scombrid

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Originally posted by: tpapablo In answer to Scombrid, we should cut corporate taxes to zero.

From whom should revenue be obtained?

You want to do away with income tax too and just go to a direct tax on trade? 

Or should we eliminate all tax except income tax and let the moocher wage earners pay for government since only the owners of capital are truly productive? 



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 08/26/2014 12:59 PM
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tpapablo

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No shortage of federal taxes. We'd make up the difference by cutting federal expenditures.

Yes, I would like to do away with the income tax.

There are thousands of different federal taxes, so I can't possibly go through each one to determine each's merit. But the simpler the better.



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 08/26/2014 12:59 PM
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scombrid

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Originally posted by: Zeus I see worrisome greed in the federal government these days,

Can you specify what should be cut to eliminate this greed?

Environmental regulations should be tempered with prosperity in mind.

Yeah? no shit? Really?

Nobody ever gave that any thought before.

http://www.nber.org/reporter/spring00/goulder.html

Economic considerations played no roll in using cap and trade to reduce sulfur dioxide emmissions (as opposed to hard limits).

http://www.epa.gov/capandtrade/documents/ctresults.pdf

 

 The EPA is currently out of control and mindful of only thier own prosperity.

Specific policies? 

Nothing stops Ireland from undercutting the US. 

And us from undercutting them and them us and so on until we are at a rate of zero as desired by Tpapablo.  Then the question is again, who pays for the wars and everything else. 

Starts to feel like 17 and 18th century Europe if the king and his lords make the merchants and tradesmen pay for all their wars.  Pretty much the way it will work if BK Corporation pays no tax but the franchise owner selling the BK products has to pay taxss and his employees have to pay taxes. 

 You sir seem to assume profitable businesses are evil. 

Not sure where you get that.



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 08/26/2014 01:01 PM
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scombrid

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Originally posted by: tpapablo  We'd make up the difference by cutting federal expenditures.

Which ones?

 But the simpler the better.

That's fine.  VAT across the board?



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 08/28/2014 06:48 AM
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Cole

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What is our Federal tax rate when all loopholes, write-offs and breaks are factored in?

They are free from US taxes, yet they continue to use the infrastructure provided to them by our tax dollars?

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 08/28/2014 07:12 AM
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Sniper

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Originally posted by: Cole What is our Federal tax rate when all loopholes, write-offs and breaks are factored in? They are free from US taxes, yet they continue to use the infrastructure provided to them by our tax dollars?


Who are you talking about? Burger King is owned by a Brazilian holdings company.

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 08/28/2014 07:23 AM
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scombrid

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The loopholes, exemptions, credits, etc... need to be dumped for corporate tax, income tax, and on. Then the sticker price can be reduced. The tax code needs to be simplified. The trouble is that extracting the loopholes and credits without big shocks to the economy and a lot of angry constituents is pretty much impossible. Imagine the screaming if you go after something like the home mortgage interest deduction. That little institution has distorted the real estate market pretty badly and pulling it would shock the crap out of real estate. I wouldn't lose anything on taxes because we're not paying much interest on our loan. But the shock to the market would hurt the value of our house since most buyers purchase a house with mortgage interest deduction factored into their budget. 



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 08/28/2014 07:26 AM
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tpapablo

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Originally posted by: Cole What is our Federal tax rate when all loopholes, write-offs and breaks are factored in? They are free from US taxes, yet they continue to use the infrastructure provided to them by our tax dollars?

You progs created all of this with your idiotic anti-business policies. All the time, you crowed that higher taxes and more regulation didn't affect business in the least. Well, you have been proven wrong once again. If you want to fix the situation, undo all the harm you have done. Very simple, really. Being the mental midgets that you are, I am sure you will advocate some dumbass solution that will only make things worse. That is what the PiC is doing.



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 08/28/2014 08:36 AM
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Greensleeves

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The Burger King has issued a proclamation in consonance with Rupert Murdoch and the departed spirit of Andrew Breitbart and it reads thusly:

"Here ye Here ye...

In order to make up for the health conscious and patriotic nature of US liberals who object to our despicable food and our happy Canadian reaffiliation (we will now be flying the Canadian flag at our establishments),

All loyal Tea Bag subjects shall double their weekly consumption at the Burger Kingdom.  This is to include larger sodas (please select diet as we need you to live longer) and the Extra Long BBQ Cheeseburger.  The menu will soon be adjusted to include bacon (which is not just for breakfast anymore) and our heart stopping favorite: Poutine!

Please use available ACA options for your resulting maladies and Government disability and SNAP programs to ensure you have money to continue supporting us.  Links to these US social programs (Canada's are better) and the lyrics to O' Canada our new national anthem will be provided on the Burger King's royal website."  

  

 08/28/2014 12:30 PM
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Cole

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Greenie is on fire today! Fricken hilarious!

Come on tpap, what is the actual business tax rate in the US? 15%...17%?

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 08/28/2014 04:08 PM
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Fish Killer

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Originally posted by: Cole

Greenie is on fire today! Fricken hilarious!



Come on tpap, what is the actual business tax rate in the US? 15%...17%?


For Burger King in the U.S....35% idiot!

In Canada it's 15% for Burger King!

Only a MORON (like you) would stay here!

http://www.foxnews.com/politic...ery/?intcmp=latestnews

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The REAL truth is....both of the forum idiots are OWNED.
-BOTH of them have no clue who their owner is.
-They are both card carrying narcissists.
^These are PROVED facts.
 08/28/2014 04:53 PM
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jdbman

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Hey fuck knut, watch this, Its going to be jdbman all across the board, You won't see your alias. that should really piss you off.........

error code 552 or something

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So if you are a surfer I wish you the prosperity that allows you more time to pursue the salt water dream, and the true happiness that comes from warm water, clean waves and the companionship of your fellow surfers. If you are an internet troll just spewing bs then f off.
 08/28/2014 05:02 PM
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Fish Killer

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Nope...good luck with that...liar!

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The REAL truth is....both of the forum idiots are OWNED.
-BOTH of them have no clue who their owner is.
-They are both card carrying narcissists.
^These are PROVED facts.
 08/28/2014 05:05 PM
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jdbman

Posts: 12159
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bump....



592

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So if you are a surfer I wish you the prosperity that allows you more time to pursue the salt water dream, and the true happiness that comes from warm water, clean waves and the companionship of your fellow surfers. If you are an internet troll just spewing bs then f off.
FORUMS : National Enquirer (FORMERLY NSR) : Tax Inversion

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