Today, Wall Street cheered the news that Burger King is in talks with Canadian Tim Hortons with a possible merger and a strategic moving of its headquarters to Canada as a tax saving measure. While I understand the ethical issues of such tax maneuvers and the negative publicity, and while I do believe corporations must pay their fair share, I also think that the time has come for a major overhaul and simplification of our tax code in this global economy such that corporations would willingly choose to keep their headquarters in the US. Such inversion into other countries constitutes a business decision. I would not be so quick to call it unpatriotic. It is a symptom of a bigger problem: we are not competitive compared to our counterparts.
Posted on: Tue, 26 Aug 2014 03:29:30 +0000
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