As Daniel Ikenson writes for the Cato Institute, “Burger King plans to purchase Canadian doughnut icon Tim Hortons and move company headquarters north of the border, where corporate tax rates are as much as 15 percentage points lower than in the United States.” See also the Washington Post‘s write-up.
When will the idiotic, economically illiterate, self-destructive members of Congress stop driving American companies oversees with their punishingly high corporate tax rates? In the mean time, I say, Good for you, Burger King.
See also my recent post about Microsoft’s efforts to reduce its tax liabilities.