Burger King is going to have it Tim Hortons’ way, and Warren Buffett will be their server today – or at least their financier.
The Burger King deal seems to be one part tax inversion and one part market diversification, but critics have focused mostly on the former. With the combined company moving its headquarters to Ontario, Burger King is set to join the ranks of corporate expatriates.
Democrats are none too pleased. “Burger King’s decision to abandon the United States means consumers should turn to Wendy’s Old Fashioned Hamburgers or White Castle sliders,” declared Sen. Sherrod Brown. “Burger King has always said ‘Have it Your Way’; well my way is to support two Ohio companies that haven’t abandoned their country or customers.”
This week, the House voted to not only extend a tax break for small businesses but to make it permanent.The specific provision that the House advanced involves Section 179 of the Tax Code. Under Section 179, small businesses can immediately write off certain qualifying expenses as a deduction in one year rather than depreciating those costs over a number of years. The result is generally very tax favorable.
A whopping 80 percent of survey respondents expressed a willingness to pay at least something to better maintain and improve California’s infrastructure, including paying increased gas and property taxes. Where respondents varied was on how much and by what method everyone should pay. 21 percent of survey takers felt tying who pays to who uses the infrastructure would be the most fair.
Vulpis didn’t know he had a big problem with the four-year-old bill until last December, he said, when he was served with papers notifying him that he had lost his Middletown, N.J., home to foreclosure. Neither he nor his wife were notified of the foreclosure process until the final judgment was granted last December, he said.
Creech said that in fiscal year 2012, the National Guard has been contacted by more than 24,800 individuals interested in joining because of the racing sponsorship. Of those, Creech said that 20 were qualified candidates and that none joined.
YOUR TAX DOLLARS AT WORK: That means a $26MM sponsorship had a $1.3MM per recruit cost. Way to go! – Ed.
The first rule is...
…we once again get a reminder that life in the real economy, there were people can not just print their way out of trouble, practical issues such as reality still matter.
Posted in News and Views
Tagged banks, business, california, cuts, Depression, economic crisis, economy, financial crisis, financial institutions, money, Recession, small business, taxes
For the past two years, a family of four earning the median income has paid less in federal income taxes than at any time since at least 1955, according to the Tax Policy Center. All federal, state and local taxes combined are a lower percentage of per-capita income than at any time since the 1960s, according to the Tax Foundation. The highest income-tax bracket is its lowest since 1992. At 35 percent, it’s well below the 50 percent mark of much of the 1980s and the 70 percent bracket of the 1970s.