Tag Archives: burger king inversion

The Tab For That Whopper Will be…

…$1.2 billion.

Now THAT’S a Whopper!

As The Curmudgeon wrote recently, the latest development in big businesses sticking it to the little guy (other than Congress’s foolish repeal last week of some of the legal protections implemented to protect the little guy from the kinds of abuses we saw a few years ago from the big guys that did such profound damage to the U.S. economy) is American companies buying foreign companies and then relocating their own corporate headquarters to where their acquisition is based to avoid paying some U.S. taxes. This practice is known as “inversion.”

Although what it really amounts to is “perversion.”

In this case, Burger King, a company worth nearly $13 billion and with more than 13,000 restaurants and 3.6 million employees, purchased Tim Horton, a donut chain with 4500 stores (mostly in Canada) and 96,000 employees.

And decided that it just had to relocate its headquarters to Canada.

Oh, Canada!

Why? To escape the tax man – to the tune of $1.2 billion over the first three years of the move.

That’s $1.2 billion that the U.S. will need to make up in tax collections because of the middle finger Burger King has shown its American customers.

Or $1.2 billion added to the national debt, for which your children will no doubt thank you.

So the next time you need a quick lunch and are considering going to Burger King, keep in mind that you’d be eating one VERY expensive burger.

Or you could just go elsewhere.

Bon appetit!