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Thread: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

  1. #171
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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by CanadaJohn View Post
    I posted this on another thread on this issue, so I'll post it here as well for stereophonic effect.

    The liberal backlash against this move is quite puzzling but not unexpected.

    People are aware, I hope, that Burger King is actually currently 70% owned by a South American company, not American owned.

    People are aware, I hope, that more than 50% of Burger King's profits are earned outside of America, and yet they pay significantly higher corporate tax on those external profits than their competitors world-wide pay.

    People are aware, I hope, that Burger King's operations within America are still paying the going tax rate in place in whichever State they operate and they still employ tens of thousands of people throughout America.

    People are aware, I hope, that unlike some other companies that can offshore their manufacturing and production, Burger King is basically a local enterprise that purchases goods and services in the communities they operate in.

    People are aware, I hope, that a South American company and a Canadian company merging is likely to take advantage of preferential tax laws in whichever countries they operate in. Large, publicly traded enterprises don't become successful and profitable, and enrich their shareholders, many of which are pension and mutual fund administrators, by overpaying taxes in some misguided debt to excessive government intervention.
    What is the difference in whether a US firm is owed by 7% or 70% by foreign investors? People don't want to spend the time reading the prospectus on a corporation before they go get a freaking burger for lunch.

    Based here, pays taxes here, wants my dollar. BK charges me tax on my meal, do I get a discount if I claim to be 75% Japanese?


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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by Phoenix View Post
    Fox News Link


    I am wondering how his constituents that are employed by Burger King feel about this. Way to throw them under the bus Sherrod.
    Democrats and Obama haven't a moral leg to stand on after forcing a sale of Chrysler to Fiat.
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by MTAtech View Post
    Once again, the STATUTORY corporate tax-rate is the highest in the world. The amount of taxes, after deductions and credits, is not. (see: GAO: Effective Tax Rates Can Differ Significantly from the Statutory Rate) In fact, many profitable corporations pay no taxes.

    What BK is doing is taking advantage of a tax loophole that allows for changing a corporate address without changing operations, as a way of avoiding taxes. Thus, a change in the tax code is warranted -- taxing profits where they are earned, regardless of where the corporate headquarters is located.
    My understanding is that profits are taxed where they are earned, but in the US, we tax repatriated profits that were already taxed in other countries. This is why so much profits are still sitting offshore thereby avoiding the double taxation. Are you aware of anything that indicates that this isn't the case today?

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by jonny5 View Post
    That seems to be a conflicting argument. You think its wrong to tax them so much,
    incorrect; i think it's poor policy, given the competition from other nations. personally, i'd support cutting it down really low, collecting it from every corporation, and increase revenue by taxing individuals instead of corporations. for example, i support taxing all individual income as income above a cap, including investment income.


    Quote Originally Posted by jonny5 View Post
    but when they agree and do something about it, theyre wrong. How is it slimy for someone to reduce the high cost of doing business, which is high due to abusive govt? Its not a scam, its not illegal, its common sense, and good for owners and investors. They should be praised. Im going to BK for lunch just to cancel out Browns alleged boycott.
    it's slimy because they are using a bunch of loopholes to duck out of taxes when the little guy can't afford to do that and has to pay it. Apple doing its little pretend corporation scam to avoid taxes is slimy, too.

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by tres borrachos View Post
    Tres Borarchos is a she. That's why I have a little pink thing in my panel over there <--------------------------

    Of course you don't get the glee. That's because you want BK to fail so that lots of people suffer financially, and because you think whatever any Democratic politician says is Gospel.
    Sorry, that little pink thing is small on my screen.
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by AliHajiSheik View Post
    My understanding is that profits are taxed where they are earned, but in the US, we tax repatriated profits that were already taxed in other countries. This is why so much profits are still sitting offshore thereby avoiding the double taxation. Are you aware of anything that indicates that this isn't the case today?

    i don't believe that is true. They should be taxed where they are earned but I don't think that's the law.
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by Hari Seldon View Post
    1. You could be right, never really paid it too much attention.

    2. Exactly, he didn't care what morons thought. And NYC prospered.

    3. When the healthcare system is overwhelmed because that is all you eat and I am unable to get proper care it sure is my problem. If insurance companies are forced to raise premiums across the board to take care of you fat azz it sure is my problem. Like I said healthcare is not an unlimited resource.

    4. Killed is one thing, major trauma is another. The cost of taking care of a paraplegic, a permanently brain damaged individual etc. is enormous and sure does effect me. Not to mention the medical resources they use which are now unavailable to me and mine.
    1. So you want an authoritarian to tell you how to live. Not me. I prefer freedom.

    2. NYC has seen more wealth flee the city than ever. It's only the poor that have to suffer there.

    3. & 4. Healthcare is not a right.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by jonny5 View Post
    Quote me the law that states the a corporation has the SAME rights as a person. Can a corporation enlist in the military? Adopt a child? Get a passport?
    This should serve to explain it:
    Corporate personhood - Wikipedia, the free encyclopedia
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by MTAtech View Post
    i don't believe that is true. They should be taxed where they are earned but I don't think that's the law.
    This opinion piece on Reuters indicates that it is, although it is not a substantial amount in BK's case:

    If Burger King was letting foreign cash pile up overseas rather than repatriating it and giving Uncle Sam a cut, that would be another matter. But Burger King only had about $900 million of total cash on its balance sheet as of June 30. Burger King’s pre-tax foreign income was just under $200 million last year, so future tax savings don’t get anywhere close to explaining the $2 billion jump in Burger King’s market value, let alone the lift in the shares of its quarry.
    Analysis & Opinion | Reuters

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    Re: Ohio Sen. Sherrod Brown calls for Burger King boycott over Tim Hortons deal

    Quote Originally Posted by Montecresto View Post
    Except that nobody pays that rate. Compare what's actually paid to the rest of the world, it looks different then.
    I'm beginning to think that's a lie, because corporations sure don't act like they are paying a reduced rate.

    "The urge to save humanity is almost always a false front for the urge to rule." --HL Mencken

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