The King Hears A Horton - Inverts Himself! - Granite Grok

The King Hears A Horton – Inverts Himself!

From WSJ:

The 'King' goes for inversion!
The ‘King’ goes for inversion!
Burger King Worldwide Inc. is in talks to buy Canadian coffee-and-doughnut chain Tim Hortons Inc., a deal that would be structured as a so-called tax inversion and move the hamburger seller’s base to Canada.

The two sides are working on a deal that would create a new company, the companies said. The takeover would create the third-largest quick-service restaurant provider in the world, they said.

dick-TURBANWith socialist crazies like Dick Turban talking about tax ‘patriotism’, and threatening to create an American Iron Curtain to deny corporations the choice to locate their headquarters wherever the tax climate is most friendly (just like California businesses fleeing to Texas), The ‘King’ has chosen to make a run for the border before the curtain comes down on the remnants of American prosperity.

HortonsDonuts The sad fact is that American corporate taxation, both Federal and state, has reached the point where companies cannot remain competitive while based here. This trend in tax inversions is simply another illustration of the truism that capital, both financial and human, goes where it is most welcome, and the USA is fast losing its edge in that respect. Instead of being right up there with Singapore and Hong Kong for economic freedom, the USA is now ranked “mostly free”, and twelfth in the listings.

A little more from the article:

Even though many of the headline-grabbing inversion deals of late have involved European companies, Canada has also been the focal point for a number of them, given its proximity and similarity to the U.S. Canada’s federal corporate tax rate was lowered to 15% in 2012.

No surprise then that very soon, lucky diners will be able to order donuts with their Whoppers, Tea with their breakfast sandwich, and be greeted with “Nice day – Have it Your Way – Eh?!”

Remember, is is only when the ruling class has succeeded in some measure in their goal of creating a “People’s Paradise”, that it becomes necessary to construct barriers, not to entry, but to exit of first money, and eventually people. Will we wait until we are reduced under absolute tyranny, and we risk death to cross our version of the Berlin Wall?

Let us have a revolution at the ballot box – while we still can!

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