Burger King’s plan to invert itself as a Canadian company to save 10’s of millions in American taxes is making big news:
So, what does everyone think about this inversion loophole currently present in American tax laws?
Jim Cramer and Co. are recommending investors start to buy up stocks in the company. The fast-food chain appeared to be falling off the map in the last decade, but has been cranking out steadily-improving profits for a good long run as of late. And with the tax savings from the the Timmies merger, stockholders are sure to reap the benefits.
I find it interesting that billionaire-trader Warren Buffett even has his hands deep into this deal, as Berkshire’s backing this play (see street.com article). Does anyone else find it odd that the very “pro-American” Buffett is endorsing what to me really just appears to be a yet unfixed loop-hole that allows for legalized tax evasion?
Share your thoughts…