Washington likely to keep close watch on tax loophole as Burger King seeks to become Canadian

https://twitter.com/USCitizenAbroad/status/504576683551105024

Once again President Obama demonstrates his contempt for the law by noting that if he doesn’t like the results of the law, he has no respect for the law.

And on the Levin front:

Ohio Senator Sherrod Brown urged people to boycott Burger King over its move to relocate to Canada and eat at rival Wendy’s or White Castle instead. Meanwhile, Senator Carl Levin said he believes Burger King risks a backlash from its customers that would outweigh any tax benefit.

Of course, the U.S. could simply amend it’s tax laws to make them compatible with the rest of the world (that is if there is world outside the U.S.)

Financial Post | Business

MONTREAL • Corporate America is making a mad rush to the exits in a bid to lower its tax bill. But experts say the odds of political intervention in the stampede have increased as a result of a U.S. burger icon’s plans to become Canadian.

U.S.-based Burger King Worldwide Inc. has confirmed it is in talks to take over Canadian doughnut and coffee maker Tim Hortons Inc. The new company would be headquartered in Canada, making Burger King the latest U.S. company wanting to relocate to a lower-tax jurisdiction through a so-called inversion strategy.

My attitude is, I don’t care if it’s legal. It’s wrong

It’s an issue that’s gotten enormous attention in the United States. “They’re declaring they’re based someplace else even though most of their operations are here,” U.S. President Barack Obama said of the trend in July. “My attitude is, I don’t care if it’s legal. It’s…

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