If you needed another reason to avoid Burger King restaurants, besides the food, there is the recent move by the fast food firm to relocate its corporate headquarters to Canada after acquiring Tim Hortons Inc. for roughly $11 billion. While Burger King Executive Chairman Alex Behring claims the move is “not being driven by tax rates,” the tax benefits for relocating to Canada are considerable which is one of the reasons why so-called tax inversions by US companies have become so common.
|By: DSWright Tuesday August 26, 2014 12:12 pm|
|By: Jane Hamsher Monday March 17, 2014 2:37 pm|
The richest man in the world also opposes raising the minimum wage, and believes that in order to prevent the social unrest that comes with mass unemployment the government should appeal to the better natures of large corporations by eliminating corporate and payroll taxes in order to encourage them to employ people they apparently won’t need.
|By: JP Sottile Monday February 24, 2014 6:30 pm|
Last year, government contracting behemoth Boeing paid an effective tax rate of -1.4%.
Yes, you read that correctly—negative 1.4%.
According to a new report from the Center for Effective Government, one of America’s biggest corporations, with profits ranging from $1.6 to $5.9 billion over the last five years, found ways to whittle down its effective tax rate so much that it became, in effect, a source of revenue as they reaped a whopping $82 million tax refund on $5.9 billion in profits.
|By: masaccio Thursday March 21, 2013 3:19 pm|
The Business Roundtable is an association of the CEOs of America’s biggest companies. Their total revenues are more than $7.3 trillion, and they employ nearly 16 million people somewhere in the world. Their big priority, supported by millions from their corporate treasuries, is to cut corporate taxation from 35% to 25%, which is hilarious when you realize that most of their members don’t pay anywhere near either rate. Among the members are GE, Tenet Healthcare, PG&E Corporation, and a host of other tax dodging companies. And lest you think that matters, Carter Wood, Senior Communications Advisor at Business Roundtable, will be happy to tell you that whatever they pay is way too much, and they are all moving off-shore.
|By: DSWright Monday February 18, 2013 12:20 pm|
Facebook Inc. is done with the pretense of Silicon Valley meritocracy and has moved on to Corporate American crony capitalism taking a multimillion dollar tax break according to Citizens for Tax Justice.
|By: David Dayen Sunday December 16, 2012 11:50 am|
House Speaker John Boehner’s latest offer sheet to the President in the fiscal slope negotiations includes an increase in tax rates on people earning $1 million a year, the first time that the Republican leader has proposed any tax rate hike. The White House, seeking rises on tax rates above $250,000, rejected the offer.
Boehner didn’t solely offer the millionaire’s bracket, he also wants social insurance cuts in exchange.
|By: David Dayen Wednesday December 12, 2012 8:21 am|
I think the White House added the corporate tax piece into the negotiations so that they could get business groups to pressure Boehner on the other points, especially raising individual tax rates. John Engler of the Business Roundtable dutifully carried that out yesterday.
|By: David Dayen Tuesday November 13, 2012 2:40 pm|
Here’s something you won’t read in Politico, incidentally, at least not while the Campaign to Fix the Debt Debt butters their bread: the companies funding the campaign stand to gain hundreds of billions of dollars if their policy goals get met.
|By: Peterr Saturday September 22, 2012 9:00 am|
“There are 47% . . . who are dependent upon government, . . . who believe the government has a responsibility to care for them, who believe that they are entitled to . . . you name it. . . . These are people who pay no income tax.”
You know these 47% who pay no income tax: people like GE, PG&E, CenterPoint, ConEd, Tenet, Boeing, Verizon, Ryder . . .
Because, as Romney told us earlier, corporations are people too. Some are just lazier and more dependent on government than others.
|By: David Dayen Tuesday September 4, 2012 7:20 am|
Party platforms from the incumbent defend the past four years as much as they set an agenda for the future, and this one is no different. “We knew that renewing the American Dream wouldn’t be easy – we knew it would take more than one year, or one term, or even one President,” it says, and it definitely paints the election as a choice; in almost every plank, it contrasts positions with Mitt Romney’s.