The Marquis de Leech Posted August 29, 2014 Share Posted August 29, 2014 Burger King is taking advantage of the legal opportunities to reduce its tax burden that the federal government has, unwisely, afforded it. You better believe I take advantage of every opportunity to legally reduce my tax burden too, and I don't have even the tiniest bit of guilt about it. Adam Smith of all people wrote that we should be glad about paying tax. It's our contribution to the well-being of society. Link to comment Share on other sites More sharing options...
all swedes are racist Posted August 29, 2014 Share Posted August 29, 2014 Right. We should all be boycotting Burger King 'cuz its fucking gross. Link to comment Share on other sites More sharing options...
NestorMakhnosLovechild Posted August 29, 2014 Share Posted August 29, 2014 Adam Smith of all people wrote that we should be glad about paying tax. It's our contribution to the well-being of society. My first inclination is to say "so the fuck what?" because... well, really, who gives a shit? But then I realized that's not terribly productive, and in fact, I think Adam Smith has something to contribute to this discussion. One of the proposals that has been floated for the taxing of multinational corporations is that their incomes should be taxed by a country to the extent that their income is derived from that country. So if Burger King derives 70% of its profits from the US and 20% from Canada and 10% of the rest of the world, then they should pay taxes on 70% of their income in the US, 20% in Canada, and 10% in the rest of the world - presumably all at each country's respective tax rates. This is actually consistent with Smith's maxim that " The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state." Link to comment Share on other sites More sharing options...
Seli Posted August 29, 2014 Share Posted August 29, 2014 My first inclination is to say "so the fuck what?" because... well, really, who gives a shit? But then I realized that's not terribly productive, and in fact, I think Adam Smith has something to contribute to this discussion. One of the proposals that has been floated for the taxing of multinational corporations is that their incomes should be taxed by a country to the extent that their income is derived from that country. So if Burger King derives 70% of its profits from the US and 20% from Canada and 10% of the rest of the world, then they should pay taxes on 70% of their income in the US, 20% in Canada, and 10% in the rest of the world - presumably all at each country's respective tax rates. This is actually consistent with Smith's maxim that " The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state." Which is far too sensitive to manipulation, as is shown by the likes of amazon or starbucks. There are too many tools to conveniently relocalize 'profit' within these multinationals. Link to comment Share on other sites More sharing options...
NestorMakhnosLovechild Posted August 29, 2014 Share Posted August 29, 2014 Which is far too sensitive to manipulation, as is shown by the likes of amazon or starbucks. There are too many tools to conveniently relocalize 'profit' within these multinationals. I'm not necessarily endorsing the proposal. The specific proposal is not the point. The point is that it's a policy issue that can and should be resolved on the level of US federal tax policy. That being said, six of the G7 nations have some form of a territorial tax systems... all but the US. These systems are obviously not without their problems - but then again, the system in the US has a pretty glaring problem too. Link to comment Share on other sites More sharing options...
Commodore Posted August 29, 2014 Share Posted August 29, 2014 Burger King trying to minimize its tax bill? What kind of awful person does that? Link to comment Share on other sites More sharing options...
all swedes are racist Posted August 29, 2014 Share Posted August 29, 2014 I really wanted to make a joke about how the Burger King is not an actual person, but, oh yeah.... Link to comment Share on other sites More sharing options...
James Arryn Posted August 29, 2014 Share Posted August 29, 2014 No you're a towel!I know how you meant that, but honestly, that's a step up for me, so I'll take it. Link to comment Share on other sites More sharing options...
Nunki Posted August 29, 2014 Share Posted August 29, 2014 Burger King trying to minimize its tax bill? What kind of awful person does that? Corporate welfare queens? Link to comment Share on other sites More sharing options...
The Undead Martyr Posted August 29, 2014 Share Posted August 29, 2014 Burger King trying to minimize its tax bill? What kind of awful person does that? A soulless immortal created by lawyers? Link to comment Share on other sites More sharing options...
DanteGabriel Posted August 29, 2014 Share Posted August 29, 2014 Corporate welfare queens? Ding ding ding. Of course, we are coddling these corporate welfare queens and strapping young megabucks. Creating a culture of dependency where they'll get fat and lazy and just expect government assistance instead of really making something of themselves. Link to comment Share on other sites More sharing options...
Larry of the Lawn Posted August 29, 2014 Share Posted August 29, 2014 Wait a minute, I thought I was supposed to be paying taxes to the King, and now I find out he's gotta kick it up to Uncle Sam?! Seems like everybody works for somebody, even the King. Link to comment Share on other sites More sharing options...
Fez Posted August 29, 2014 Share Posted August 29, 2014 I don't blame Burger King. Its the company's responsibility to act in the best interests of its shareholders, and, since the economic impact of any backlash will be minimal, making this move to reduce their tax burden makes complete sense. I do blame our tax code and political gridlock for allowing this opportunity to exist, and it really shouldn't, but as long as it does, companies should take advantage of it if it'll make a large enough difference to their bottom line. Link to comment Share on other sites More sharing options...
awesome possum Posted August 29, 2014 Share Posted August 29, 2014 Corporate welfare queens? No, no, no. Only poor people can be welfare queens, preferably poor minorities. Burger King and these other companies, they're just being good American patriots Top offenders include giants from high-tech (Microsoft, $76 billion); Big Pharma (Pfizer, $69 billion); Big Oil (ExxonÂMobil, $47 billion); investment banks (Goldman Sachs, $22 billion); Big Tobacco (Philip Morris, $20 billion); discount retailers (Wal-Mart, $19 billion); fast-food chains (McDonald’s, $16 billion) – even heavy machinery (Caterpillar, $17 billion). General Electric has $110 billion stashed offshore, and enjoys an effective tax rate of 4 percent – 31 points lower than its statutory obligation to the IRS. Good... patriotic... Americans... And so right now there’s about $2 trillion in corporate profits that are stockpiled overseas, on which the U.S. government is technically owed something like half a trillion dollars. So, at the same time that we’re cutting food stamps, that we’re cutting home heating aid to the elderly, you know, there’s literally a jackpot of half a trillion dollars that politicians on both sides of the aisle just won’t go after, because there’s just an imbalance of power there. The corporate power has grown much greater than state power in this case. Link to comment Share on other sites More sharing options...
Commodore Posted August 29, 2014 Share Posted August 29, 2014 If minimizing one's tax bill is unpatriotic, the majority of Americans fall into that bucket. As Schiff said on his show the other day, "Why would any company want to be American?" Link to comment Share on other sites More sharing options...
daskool Posted August 29, 2014 Share Posted August 29, 2014 If minimizing one's tax bill is unpatriotic, the majority of Americans fall into that bucket. As Schiff said on his show the other day, "Why would any company want to be American?" There is a perfectly straightforward way for liberals to pay extra tax on their returns should they so wish. Money where your mouth is and all that Link to comment Share on other sites More sharing options...
Ser Scot A Ellison Posted August 29, 2014 Share Posted August 29, 2014 TUMA soulless immortal created by lawyers?No, a souless immortal created by agents of the State. Corporations don't exist until a State agency says they exist. Link to comment Share on other sites More sharing options...
Frog Eater Posted August 29, 2014 Share Posted August 29, 2014 Burger King hasn't been an American company since 2010, when it was purchased by a Brazillian private investment firm (3G)This investment firm also owns Heinz (the ketchup people) Link to comment Share on other sites More sharing options...
Istakhr Posted August 29, 2014 Share Posted August 29, 2014 As Schiff said on his show the other day, "Why would any company want to be American?" Because if you are not an American company you shouldn't expect US government to lobby or covertly plan coups on your behalf in foreign countries and if some other country decides to nationalize you or just take your property you shouldn't be whining about it to the US. Link to comment Share on other sites More sharing options...
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