Category Archives: Taxes

Man-bites-dog story: French Socialists pursue government spending cuts

Perhaps there’s another way in which American government leaders can learn a lesson from France. The latest issue of Bloomberg Businessweek offers details. During his 27 months in office, French President François Hollande has consistently disappointed his countrymen with predictions of economic recovery that haven’t materialized. Now the beleaguered Hollande is trying to quell aContinue Reading

Barron’s editorial page editor tackles the Burger King boogie to Canada

Thomas Donlan‘s latest editorial commentary for Barron’s delves into Burger King’s plans to move operations north of the Canadian border. Tim Hortons earned more than $425 million last year, which is about twice what Burger King earned, even though the stock market value of each company was about the same before the deal was announced.Continue Reading

Drawing the Wrong Conclusion XIV: the can’t-compete-with-lower-taxes edition

We learned this week that North Carolina offered the mad bribe of $107-friggin’-million in economic incentives to get Toyota to locate its North America headquarters in Charlotte, but lost. Who won? Texas, with the relatively small bid of $40 million. How on earth did North Carolina, offering over two-and-a-half times as much as Texas inContinue Reading

Lowry wonders why Warren Buffett hates America

What, you hadn’t heard that Warren Buffett is an economic traitor? Of course, he isn’t. But that’s the label the Obama administration has been applying to companies practicing a tactic known as a corporate inversion. Moving its official incorporation location from the United States to another country — almost any other country — allows aContinue Reading

Prophet of high American tax rates to bankroll Burger King’s effort to escape high American tax rates

Warren Buffett, who thinks Americans should pay more taxes, has no problem making money from a deal designed to help Burger King avoid paying higher taxes. Bloomberg reports. Warren Buffett’s Berkshire Hathaway Inc. is providing $3 billion of financing for Burger King Worldwide Inc.’s planned takeover of Tim Hortons Inc. and will earn 9 percentContinue Reading

Burr tours corporate welfare recipients to tout corporate tax breaks, fails to draw the obvious lesson

The obvious lesson is, as I’ve stated over economic incentives programs are a tacit admission by state policymakers that lower taxes and regulations would attract more industry to North Carolina. The question then becomes: Why do it just for select industries? Why not lower taxes and regulations across the board? and over at the heartContinue Reading

Don’t like tax ‘inversion’? Support corporate tax reform

Back-to-back columns in the latest issue of Fortune magazine explain that people worried about so-called tax inversions (which might not be as worrisome as the Obama administration has suggested) ought to address the underlying problem: the corporate tax code. Becky Quick details the problem. Inversions are just a symptom of a bloated, unwieldy corporate taxContinue Reading

National Review on corporate tax inversions

The latest print edition of National Review offers the following blurb about corporate tax “inversions.” “I don’t care if it’s legal — it’s wrong!” So said President Obama of the practice of so-called corporate tax inversions, in which firms legally reincorporate overseas, escaping the rapacious U.S. corporate income tax. The United States maintains the highestContinue Reading