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The tax rate itself isn't the reason why corporations are doing these tax inversions. The taxation of foreign earnings (which only China and the US does) is the main reason why companies are relocating to foreign countries. Canada btw has a balanced budget due to its energy boom from the Albertan oil sands.
Location: In a little house on the prairie - literally
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Quote:
Originally Posted by X14Freak
The tax rate itself isn't the reason why corporations are doing these tax inversions. The taxation of foreign earnings (which only China and the US does) is the main reason why companies are relocating to foreign countries. Canada btw has a balanced budget due to its energy boom from the Albertan oil sands.
No, that is incorrect. The Alberta government is the one who gets most of it's revenue from oil sand's taxation, although the oil sands are a major economic impact. Your forgetting that the US has had a major revenue creator from the Bakken field in the Dakotas, and the shale oil discoveries.
This has nothing to do with healthcare. They're doing this for the taxes. Obama has asked congress to address this loophole... We'll see what happens...
Location: In a little house on the prairie - literally
10,202 posts, read 7,919,895 times
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Quote:
Originally Posted by SHABAZZ310
This has nothing to do with healthcare. They're doing this for the taxes. Obama has asked congress to address this loophole... We'll see what happens...
Healthcare is just an added benefit, your right, it is a tax issue.
I wonder why the USA is the highest corporate tax in the OECD?
Burger King is in talks to buy Canada's iconic Tim Horton's coffee shop chain. This will allow them to move to Canada to avoid higher US higher taxes.
"In a recent Washington Post op-ed, Treasury Secretary Jack Lew urged Congress to pass legislation the Obama administration has been proposing that would overhaul the corporate tax code to make inversions less appealing."
I hope Congress will finally take up that legislation to halt inversions. The 2004 law passed by Congress did not quite go far enough. I would love to see jobs created here for American citizens.
Burger King is in talks to buy Canada's iconic Tim Horton's coffee shop chain. This will allow them to move to Canada to avoid higher US higher taxes.
"In a recent Washington Post op-ed, Treasury Secretary Jack Lew urged Congress to pass legislation the Obama administration has been proposing that would overhaul the corporate tax code to make inversions less appealing."
I hope the Congress listens, but I think they will not even talk about doing it, because like with immigration, they see more political ammo in complaining about the problem than in fixing it.
I hope the Congress listens, but I think they will not even talk about doing it, because like with immigration, they see more political ammo in complaining about the problem than in fixing it.
Agreed. I doubt the House would pass such a measure anyway.
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Burger King may move to Canada to avoid US taxes
