A few weeks ago, I talked about inversions here on the blog and how they have the potential to cause serious damage to the U.S. corporate tax base.
Yesterday, a story broke about another U.S. company embracing the inversion trend. Burger King has announced that it will be buying Canadian chain Tim Horton’s and moving it’s corporate base to Canada – a move that will likely cut it’s U.S. tax bill. You can read more about the move here.
Corporate inversion is a huge problem that no one – not Congress, not President Obama – is doing anything about. Until someone steps up and leads the charge on changing the law to stop these inversions, there is only one group left that can make a difference – the consumers. U.S. consumers should protest and boycott Burger King (and other U.S. companies who are taking the inversion route), so that those companies will feel the sting at home. And Congress should step up to a) fix the inversion loophole and b) lower the U.S. corporate tax rate, so that companies no longer have the means or the incentive to make this kind of move.