Burger King Is Moving to Canada
The Burger King corporation is apparently negotiating to acquire Canada’s Tim Horton’s doughnut shop chain. And if it does, that could have some interesting fiscal effects.
The acquisition might also result in Burger King becoming a Canadian company. The merger may cause Burger King’s corporate headquarters to relocate to Canada – specifically, to Oakville, Ontario.
Why? In a word: money. Lots of money.
In Ontario, corporate taxes (combined Canadian Federal and Ontario provincial) are far lower than US corporate taxes – nearly 25% lower, actually. The company would save beaucoup bucks in taxes with the move. And a stock swap as part of the acquisition of Tim Horton’s by Burger King could easily satisfy the 20+% foreign ownership share required under US law for the resulting company to be considered foreign-owned – and thus foreign-taxed.
This article from Forbes gives more details. IMO it’s worth reading.
Our “fine liberal brethren” tell us we must tax the hell out of those “nasty, evil” corporations to pay for all that “free” stuff they want to give everyone. But I’m wondering what we’re supposed to do when all the money goes bye-bye – along with all the jobs – after corporations have had enough, say “Screw this”, and move to another country where they can get a better deal.
At some point, corporations will vote with their feet too. Money talks – quite persuasively.
I guess we’re supposed to just sit around with our thumbs firmly inserted while we bitch to each other on our “free” phones.
Author’s Note: the deal has been confirmed. The article’s title has been revised to reflect that. Now, time to start practicing saying, “How ’bout a Whopper with cheese, eh?”
No word on whether or not poutine will be added to the menu here. (smile)
Category: Economy
And Warren Buffet is helping make it happen. I love Tim Horton’s…not a huge fan of Burger King. Here’s hoping that the BK doesn’t screw with the TH.
Corporations don’t pay taxes. They collect them.
Expect more of this to come.
They collect them from customers as price increases and as reduced profits for the share holders. So who is paying “Corportate Taxes” really? My 401K, for one. So hell yes take ’em overseas for a tax break!
On the bright side, the acquisition could result in a commercially recognized Double Whopper Bacon Doughnut Value Meal! Oh I can actually hear myself getting fatter!
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”
Vladimir Lenin
It’s happening.
Except that he didn’t. RR perpetuated a fake quote unfortunately.
So will canadian BK remain the official fast food chain of every px food court?
Why not, the Canadian Tim Horton’s was the official coffee shop of Kandahar Air Field. I’m sure I saw the odd US service member lining up for a double double and a honey crueller… Shit, I even saw Toby Keith slurping on an Ice Capp after he ran away to the bunker during a rocket attack!
The day that the Tim Horton’s left Kandahar was the saddest day. Cheap and delicious coffee and donuts. Thankfully it can be found in Ohio and NYC.
I guess it’ll be Canadian bacon on the breakfast sandwiches now.
Egg McMuffins, dude. Youve been eating Canadian bacon this whole time.
As for Burger King, fuck ’em. I don’t care whether you’re outsourcing jobs or moving corporate headquarters, if you move business out of America then fuck you, I’ll spend my money elsewhere.
I disagree. It makes me WANT to support BK now.
The problem isn’t BK moving. BK moving and becoming a Canadian company is a symptom of what’s wrong with THIS nation.
Our politicians and especially every jackwagon leftist have decided that it’s important to soak everyone and everything they can in order to increase welfare and thus buy more votes.
This nation has a spending problem, and we the people need to take the check book and credit cards away from this fucktard president and this fucktard congress. It’s OUR mony, damn it.
Corporate taxes keep going up because this federal government won’t stop handing out EBT cards and Section-8 vouchers to every layabout and illegal.
I hope that every large US corporation follows BK out the door, because it’s about the only way we can collapse this leftist welfare state. Cut off the money. If enough Americans lose their jobs, then perhaps they’ll be inclinded to pay attention for once and understand why prices are rising and infrastructure is crumbling, and stop voting for leftists.
I see someone understands both economic and welfare-state structural issues.
↑↑↑↑↑ A few upvotes for you, Tim.
I’m all for reducing government spending, including these two programs, but they’re hardly what’s breaking the bank. SNAP is around $80B and Section 8 is another $20B — for a grand total of under 3% of government spending. Medicare and Medicaid are over 8x as much at 25%. We should definitely do something about SNAP and S8, but focusing on them is kind of like arresting a guy for jaywalking while ignore the guy next to him who is being robbed at gunpoint.
Yep. And then there’s Social Security, which alone is up to about 24-25% of Federal spending.
And please – no arguments by anyone that people “paid into that system” and the government “owes” them their money back. That’s bull.
Those FICA taxes were exactly that – legally-required taxes. They weren’t contributions to any form of retirement “fund”.
And the SCOTUS has ruled that you have no ownership interest in Social Security. It’s merely another government benefit program, granted by Congress at Congress’ whim. If they change the rules – sin loy.
Former 11B,
You do know that Burger King is now owned by 3G Capitol, a multi-billion dollar investment firm located in Brazil, right?
Didn’t think so.
😉
Had to hold back on the “Brazillion” cheap shot.
Edited to add, guess who else 3G Cap just bought out? A little enterprise named H. J. Heinz Company, aka Heinz Ketchup, famous for it’s 57 Varieties and formerly owned by the wife of John sKerry, whom I’m told is a Viet Nam Veteran.
Things that make ya go, “Hmmmm….”
This will only solidify delusionals into even higher taxation attempts to punish businesses that do stay.
Liberals. Always knowing whats best to do with your money.
Yummy – my favorite burger joint merging with my favorite doughnut joint. Sounds good from here. May they both remain successful for many decades.
Sure, I wish that BK could afford to remain a US based company, but I can’t fault any business for making the decision which makes the most business sense for them. The real problem is that our government is playing this silly game of Russian roulette with the country’s financial assets.
Yep. There’s an old story about a goose that laid golden eggs . . . .
The whole country is going the way of California. No businesses, no jobs. Just unemployed workers, illegal aliens, and a permanent welfare underclass.
The BK unit biz global HQ will remain in Miami, FL…
The only responsibility a corporation has is to it’s share/stock holders.
They need the tax break to offset the minimum wage increases. Of course, all I care about is that my #1 is still 5 bucks.
Warren Buffet is also one of B.Hussein 0bama’s puppeteers. I wonder if BK will now offer gravy with cheese for fries, eh?
Poutain is evil and best served with a large Molsen’s Ale. Or two. Eh?
Eh, just be careful of what you say about BEER, IT’S NOT JUST FOR BREAKFAST ANYMORE!!!
Tim’s has the best coffee. I wonder if we are going to get to “roll up the rim to win” at all Burger Kings in the US. I won many donuts and muffins on my way through Cananda
Naval Station Norfolk has a Tim Horton’s coffee shop just inside the gate off of Bellinger Blvd and West Bay Avenue. It’s close to the airfield BOQ, which was where I stayed during my numerous TDYs and COTTADs at USJFCOM before I retired. I bought lots of sandwiches and soups from Tim Horton’s for my supper meals while staying at the BOQ. The chicken sub and clam chowder was excellent. I understand there is a Tim Horton’s at NAS Oceana as well…
All I have to say is if they offer gravy with French Fries, I’m all for it!
Ok, not really, but as the saying goes, you reap what you sow. Get to reaping, Dems. Thank you Bill Clinton for NAFTA!
May have been signed by Clinton but it was proposed by Reagan, and all the negotiations, discussions, and ratification
came under Reagan/Bush. Clinton just signed the final bill.
Basic rule: there is NO difference between the parties when it comes to screwing the country. They just each do it marginally different ways.
Mmmmmm…poutine fries. I know a place in Portsmouth I might have to hit this weekend.
TSO…yeah, that place.