Not to over simplify things, but my question is:
Do Burger King and all these other companies comply with our tax laws as they now stand? Are they paying what they owe under current tax laws? Will they comply with all tax laws after this inversion purchase goes through?
We can discuss laws and loopholes and what not. But, if these companies are abiding by the law and paying what they owe, then how can these liberal senators complain?
If they feel so strongly about it, then introduce legislston to change the law in this area. Let’s have a debate about what tax policy should be for companies which operate in other countries as well as America.
I just can’t see being super critical of Burger King assuming they are in full compliance with tax laws as currently written.
If they are incorporated in the US, they pay the same on US business as they would in Canada. However, they would be taxed in Canada for business in Canada, and still owe the difference between the higher US rate and the Canadian rate to the IRS.