Burger King Leaves US over Tax Rate
Burger King, the second-largest burger chain in the United States will buy Canadian company Tim Hortons, moving its company headquarters to Canada in the process. From The Washington Post:
International fast food behemoth Burger King Worldwide Inc. confirmed Tuesday that it will pay about $11 billion to buy Canadian chain Tim Hortons Inc., which sells coffee, donuts, and other breakfast food fare. The deal would merge America’s second-largest burger chain, which is valued at nearly $10 billion, with the Canadian equivalent to Dunkin’ Donuts, which is valued at more than $8 billion. It would also move the new company’s headquarters to Canada, where corporate taxes are significantly lower.
Cue tax-and-spend liberals whining about Burger King’s move being unpatriotic. But what is more patriotic, complaining about companies fleeing confiscatory tax rates, or actually fleeing high tax rates?