BK has it their way
POSTED: Tuesday, August 26, 2014 - 6:00pm
UPDATED: Monday, September 1, 2014 - 4:15pm
Tyler (KETK) — Remember years ago when Ted Kennedy decided to put a whipping on rich people and had the yacht tax there in the northeast raised because taxes were too low.
What happened? People bought their yachts and moored them somewhere else leaving old Kennedy there at the cape slack-jawed.
Now, it happens again. Burger king pulled a fast one and I think it's brilliant, no matter what your politics.
Do you know the American business tax is the highest in the world at 39 percent? That's the way the liberals like it, business getting highly taxed.
Well, Burger King pulled what's called an inversion. Burger King buys some company we've never heard of in Canada which specializes in coffee and doughnuts, but the high-paid executives will stay in the U.S. while the corporate office will probably consist of a rotary phone and an administrative assistant named Pearl in Canada.
By doing this, Burger King will no long pay 39 percent in taxes.They will pay what Canadian businesses pay at 26 percent.
Can you believe Canada's business tax is lower than ours? Canada's business tax used to be higher, but their new Prime Minister
lowered it to create business.
And the tastiest part , it's being financed by the presidents frumpy buddy Warren Buffet. Buffet, Mr. "America needs pay more tax money," but his financing the deal which tell you that everybody is out for themselves.
Greater good be damned, Warren is making a pot load of money. The president complained when told the deal went through.
He said we should not be able to cherry pick our taxes. I also think we should not be able to pick what laws we enforce, but that hasn't bothered the president.
Burger King has it their way. I'll bet many other businesses are thinking of doing the same thing.
That's my point of view, what's yours?
You can email me a POV@ketknbc.com or Facebook me at KETK Neal Barton.