A list of ways to prevent “tax flight” are being “assembled” by our glorious leaders to “curb the maneuver,” as if this is some kind of reckless driving stunt being preformed by teenagers on the highways that requires new safety barriers to be installed. For those who are unaware, Burger King has decided to flee the thieving pirates of the US police state for the friendlier seas of Canada, where it may be allowed keep an additional 14% of the money it earns.
The Washington Post reports:
The increasing popularity of tax inversions has prompted discussions about how to close–or at the very least thwart–the sort of loopholes that allow tax flight in the first place. President Barack Obama has expressed concerns about the practice and its imminent growth. “We don’t want to see this trend grow,” he said at a news conference earlier this month. And the Treasury Department is already working to assemble a list of ways to help curb the maneuver.
Sen. Sherrod Brown, D-Ohio, went so far as to call for a boycott of Burger King. Brown also said, “We need an immediate fix to forestall a flood of these dangerous inversions and a long term solution that lowers corporate tax rates while instituting a country-by-country global minimum tax”
I love how fleeing a thieving police state is described as a “loophole.” It’s a “loophole” that groups of people called corporations can leave the US! We must close this “loophole” to prevent other groups of people from fleeing! We need barriers and curbs to keep people safe from themselves! Otherwise they might drive off the side of a cliff!
Welcome to the new Amerika, where you can check in any time you like, but you can never leave. Instead of arguing that we should create a friendlier business climate to entice Burger King to stay of its own accord, the first thing our glorious leaders do is scheme for ways to use threats of violence against those who would dare try to leave.