Aug 30, 2014

Now Who's At Fault Here, Burger King or King Obama ?

Common Sense Commentary: A bunch of politicians who not only can't balance the national budget but goes deeper into a black hole of debt every year for decades, and now owes more than 17 Trillion dollars to its citizens and foreigners all over the world, shouldn't be giving financial advice. Even worse than their advice is their intimidation and punishment of citizens and businesses who struggle constantly to balance their budgets and pay that same government the highest "total" taxes in the world. Mr. Obama says they are "unpatriotic".  That is just another presidential lie. What IS unpatriotic is the way he and his fellow Socialist Liberals are driving our ship of state into the rocky cliffs under our Constitutional Lighthouse. Theirs is the mental aptitude of drunken pirates. RB

The Government Guilt Trip for Your Money

By Jocelynn Smith, Managing Editor
Dear Sovereign Investor,
Burger King (NYSE:BKW) was crucified in the media this week after it announced that it was not only purchasing Canadian company Tim Hortons (NYSE:THI) but that it was also moving its address to Canada,  benefiting from a so-called tax inversion.

President Obama calls it something else — an “unpatriotic loophole.”

But, of course he would say that, as ridiculous as it is. He has to.

First, Burger King pays an average corporate tax of 27.5% compared with Tim Hortons’ average tax of 27% in Canada. Not a huge difference.  However, Burger King will benefit because it won’t be paying American taxes on what it earns in South Africa or Colombia or the 93 other countries where it has franchises. American companies share this taxation “privilege” with only one other country in the world — Libya.

And second, the idea that a tax inversion is an “unpatriotic loophole” is just silly. What could be more American than saving a few bucks? Are you telling me that Ohio Senator Sherrod Brown — the gentleman calling for a boycott of Burger King because of its move to Canada — doesn’t take advantage of every deduction and loophole available to him when he files his taxes every year? Are the rest of Americans who take joy in cutting down their tax liability “unpatriotic” as well?

When you consider that the U.S. government has tallied up a debt of more than $17 trillion and doesn’t show any sign of stopping, do you want to throw your hard-earned money down that bottomless pit to nowhere?

No, I didn’t think so.

As for the companies that are seeking a tax inversion to cut down their tax liabilities, this isn’t about patriotism. It’s business. And the money these companies don’t toss down the bottomless pit of government spending can be used for brilliant things such as reinvesting and growing their business, creating new jobs, paying higher wages to employees and even redistributing those funds to shareholders in the form of dividends.

Protecting your wealth isn’t unpatriotic, but responsible and wise — and it’s not unpatriotic to look outside the U.S. for these kinds of breaks. The American government is in a bind with debt and it can’t see a way out of it without the money it can grab from both corporations and individual citizens. We at the Sovereign Society remain steadfast in our resolve to find you the best asset protection avenues and investments that will keep your money in your pocket rather than Uncle Sam’s.

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