Burger King announced that it is actively pursuing the purchase of Canada’s Tim Hortons’ food chain, and with that purchase, the company announced that it will relocate its headquarters to Canada.
Such a move means that Burger King will join other “leach” companies that make huge profits here in America, but avoid paying domestic taxes because they’re headquartered overseas.
One US Senator thinks this is terribly wrong, and he is calling for a nationwide boycott of the Burger.
Sen. Sherrod Brown (D-OH) – a member of the Senate Finance Committee and a senior member of the Senate Banking Committee – is calling for congressional action to deal with these “leach” companies, and he wants the American people to boycott Burger King all together.
“Burger King’s decision to abandon the United States means consumers should turn to Wendy’s Old Fashioned Hamburgers or White Castle sliders. Burger King has always said ‘Have it Your Way’; well my way is to support two Ohio companies that haven’t abandoned their country or customers,” Brown said. “To help business grow in America, taxpayers have funded public infrastructure, workforce training, and incentives to encourage R&D and capital investment. Runaway corporations benefited from those policies but want U.S. companies to pay their share of the tab.”
“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,” Brown continued. “This kind of common sense reform will close down tax havens that cost our country revenue and cost American jobs. Lowering the statutory corporate tax rate would put companies on a level playing field with foreign competitors and reduce the incentive for them to shift jobs and profits overseas. Creating a global minimum tax rate will increase investment in the United States, raise revenue, and prevent a global race-to-the-bottom.”
