Burger King plans to merge with Canuck coffee-and-doughnut chain Tim Hortons and base the company’s headquarters in Canada, where it will enjoy the kind of reasonable corporate tax structure that Democrats continue to obstruct here in the United States. And the move has provoked a fresh round of moral panic, faux patriotism and confusion.
It’s doubtful, despite much wishful thinking, that there will be much of a real backlash. Nor should there be. Most obviously, the majority of fast-food customers are probably less inclined than the petitioners of MoveOn.org to mistake high tax rates for patriotism. This kind of distorted understanding of national loyalty may work in populist politics, but not so much in markets. Few reasonable humans will meditate on Burger King’s corporate tax “inversion” — or even its Brazilian owners — as they wait for the frozen french fries to be dropped into the deep-fryer.
The four best-selling cars in America so far in 2014 are the Toyota Camry, Nissan Altima, Honda Accord and Toyota Corolla. One of the best-selling cellphone brands is South Korean. And so on. Does a Whopper taste like a Whopper? That’s all that matters. And it’s all that should. Nothing really changes for the consumer.
Even among those who do pay attention, there will very likely be many who don’t believe that the purpose of a business is to placate the Obama administration or generate more revenue for government. The executive’s charge is to grow and sustain a healthy business, which this deal almost unquestionably does. Stockholders? According to TheStreet, the Brazilian equity firm that controls the company may make more in one day with the acquisition of Tim Hortons than it paid Goldman Sachs (and others) for Burger King four years ago. Sounds like a sweet deal.
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5 comments:
Nothing New! lot of Queens ran to Canada during Vietnam war too.
Expect more of this.Can you believe we are supposed to be outraged? We should be laughing our butts off.
If BO wants to show economic patriotism then he should be paying the Treasury $1 million a year to be President instead of accepting a salary for the lousy job he has done.
Bravo to Burger King , you rock.
What's left in the U.S. ? Mostly Chinese owned companies and Mexican drug lords with black gang back-up.
Figures progressive libtarded tax policy and communist ideals have created a hostile environment for bussiness...and canada has socialized medicine? and the tax rate is still lower?? What does that say about our policies??. they suck
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