According to the TV news Burger King is doing some kind of deal with Canadian fast food operator Tim Horton which will turn Burger Kind into a Canadian company, and lower their tax rate from the American 35% to the Canadian 15%. Obama is outraged.
Tough cookies Obama. If you want to keep companies home in the US of A, you can lower the corporate tax rate to 15%. While you are at it, you can close a zillion loopholes and wind up collecting the same amount of money.
Despite Obama's efforts to the contrary, it's still a free country. Corporations are free to leave any time. So are citizens.
Are Burger King and Tim Horton's gonna change their signage? Horton Burger anyone? Timmy King? The Tim Horton name is well known and wide spread in Canada, changing it would probably loose them business, especially as Canadians always hate to see Americans taking over anything up there.
Just what kind of deal did they do? A buyout? a merger? a paperwash? And what is Warren Buffet doing in the deal? Newsies say that Buffet will be making 9% on his "investment". That's darn high. Burger King could have sold bonds or printed stock or gone to a bank, which surely would have done a loan for about 5%. And, was it a merger? Mergers don't require the kind of money that buyouts do.
Was it a paperwash? Those don't require much money either. The newsies say that the Burger King headquarters in Florida will stay put. Are they just doing something akin to incorporating in Delaware?
The TV newsies aren't saying. Probably 'cause they don't understand what's going down.