Have Business, Will Travel: Dozens of Companies Leave America Under Obama
Ben Shapiro writes at Breitbart:
On Tuesday, Burger King announced that it would spend some $11 billion to buy Tim Hortons Inc., a Canadian breakfast food chain, then merge Burger King into it, thereby turning what was once a major American company into a major Canadian one. As the Washington Post reports, Burger King would "move the company’s headquarters to Canada, where corporate taxes are significantly lower."
This process, called inversion, has been occurring more and more often, despite the fascistic suggestion by President Obama that headquartering outside the United States represents a betrayal of God and country. Members of the Obama administration have taken to labeling business inversions a lack of "economic patriotism" -- presumably under the assumption that to stay in America, cut jobs, and lose all profits in order to pay higher taxes represents a sort of higher moral value than moving one’s headquarters and continuing to pay millions of workers and reward consumers with better and cheaper products.
"Some 25 major companies have participated in tax inversions since President Obama took office," Shapiro concludes. "That trend will continue to accelerate as President Obama ratchets up the rhetoric and threatens harsher action against companies that dare to buck his high-tax priorities."