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Old 06-30-2009, 09:57 AM
 
Location: Chicagoland
41,214 posts, read 23,104,823 times
Reputation: 6980
Default Predictable consequence of obama's targeting of American business

Hortons move signals Canada's gaining tax appeal

Quote:
OTTAWA -- In a clear indication that Canada is starting to be considered a low-tax place to do business, Tim Hortons Inc. announced Monday plans to shift its base of operations from Delaware to Canada for tax purposes.

Further, analysts indicate this is also a sign of unease among corporations regarding the U.S. business environment, where taxes are likely heading upward to deal with trillion-dollar deficits and proposed health-care reforms; and the White House is looking to crack down on companies that invest abroad.
Quote:
In the United States, the top corporate tax rate is in the mid-30% range. As a result, the U.S. now has about the highest combined corporate tax rate, second only to Japan among industrialized countries.
And more massive tax hikes are on the way - cap and trade, health care, etc. This fool is going to drive business and jobs out of the US with his draconian tax policies.

It is incredibly insane to do this in the midst of a recession.

The more he targets business with his inflammatory rhetoric (like business is the bad guy - those are where the jobs come from people!) the more they will take their business and jobs elsewhere.

Hot Air » Blog Archive » Canada - the new tax haven?

Quote:
Obama’s plan to close the “loophole” of foreign profits will push more American companies into relocating abroad. Taxing foreign profits at the same rate as domestic earnings will place a competitive burden on American companies that grants an advantage to foreign competitors. Eventually, American companies will either have to withdraw from global competition and compete solely at home, or they will have to move out of the US in order to return to an equal tax position as their competition, whose governments only tax them on domestic earnings.
Quote:
The administration scoffed at the notion that vast numbers of corporations would move their headquarters — and employees — out of the US and overseas, but now that won’t be necessary. They can simply cross the northern border into Canada, many to the high-tech city of Toronto, to establish themselves as a Canadian company. The lower taxes at home, along with the lack of requirement to treat all income as domestic for tax purposes, would allow them to compete more easily. It would also put them out of the reach of the decidedly business-unfriendly White House, which has stirred up populist resentment towards the corporate world since the first day Obama arrived.
Yes, he has. He did it to the corporate executive, the Chrysler and GM investors and business in general. Next up for his evil-doer targets - health care professionals and energy producers.
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Old 06-30-2009, 10:04 AM
 
Location: On Top
12,441 posts, read 6,825,231 times
Reputation: 4012
Quote:
OTTAWA -- In a clear indication that Canada is starting to be considered a low-tax place to do business, Tim Hortons Inc. announced Monday plans to shift its base of operations from Delaware to Canada for tax purposes.
WOW I'm shocked to learn that Timmy's was American owned! A business named after the great Canadian hockey icon Tim Horton sold out to Americans.....I'm shocked I tell ya, just shocked!
Good to have ownership back home though!
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Old 06-30-2009, 10:09 AM
 
Location: Chicagoland
41,214 posts, read 23,104,823 times
Reputation: 6980
Quote:
WOW I'm shocked to learn that Timmy's was American owned! A business named after the great Canadian hockey icon Tim Horton sold out to Americans.....I'm shocked I tell ya, just shocked!
Good to have ownership back home though!
That's all you have to contribute to this very important issue? Why am I not surprised?
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Old 06-30-2009, 10:20 AM
 
Location: On Top
12,441 posts, read 6,825,231 times
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Quote:
Originally Posted by sanrene View Post
That's all you have to contribute to this very important issue? Why am I not surprised?
The Canadian conservative gov may be light on taxing businesses but the citizens are taxed to death, for example if you buy a car look forward to adding 13% (Ontario) right on top of the retail price in taxes.
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Old 06-30-2009, 10:30 AM
 
Location: Chicagoland
41,214 posts, read 23,104,823 times
Reputation: 6980
Quote:
The Canadian conservative gov may be light on taxing businesses but the citizens are taxed to death, for example if you buy a car look forward to adding 13% (Ontario) right on top of the retail price in taxes.
The Harper government is working on that - I believe they have reduced the GST as soon as they took over from the liberal politicians thrown out of office who had been in charge for decades.

Besides, this is about the American business ditching the US because of obama's business-unfriendly tax policies.
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Old 06-30-2009, 10:40 AM
 
Location: On Top
12,441 posts, read 6,825,231 times
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Quote:
Originally Posted by sanrene View Post
The Harper government is working on that - I believe they have reduced the GST as soon as they took over from the liberal politicians thrown out of office who had been in charge for decades.

Besides, this is about the American business ditching the US because of obama's business-unfriendly tax policies.
It was the conservative party who introduced the GST in the first place, under Mulroney.

The Harper gov days are drawing to a close thank goodness.
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