Tuesday, September 2, 2014

Burger King Tim Horton's Inversion Blues--Lower The U.S. Rate

Burger King and Buffet are drawing a good deal of Congressional ire
Merger with Tim Horton’s in Canada means an inversion for the U.S. buyer
Lost in the outrage and unpatriotic claims
Compete with the usual corporate greed blame
Just like our borders are totally porous to the movement of desperate feet
Capital flows even faster where there are lower taxes to help it compete
At 35 percent we have the highest corporate tax rate
Riddled with social engineering exemptions and credits, inversions will increase not abate
Worse we are the only nation that offers an incentive to profits abroad not repatriate
Two trillion dollars of earnings stay abroad to avoid the taxes that would await
What would our economy do if like the amnesty to illegals Obama wants to grant?
We could give amnesty to the earnings brought home to our economy revamp?
A one year moratorium on taxes to this country returned
While free of blame and fair share sound bites we tried to close loopholes but with lower rates allow business to keep more of what they earned
Maybe in the climate of partisan D.C. grip a forlorn pipe dream
But unless we act to reform inversion will continue in a steady stream.
© September 2, 2014 Michael P. Ridley aka the Alaskanpoet

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