Another Look at Tax Inversion Mergers

Burger King Worldwide Inc is in talks to buy Canadian coffee-and-doughnut chain Tim Hortons Inc, a deal that would be structured as a so-called tax inversion and move the hamburger seller’s base to Canada.

After all, Canada’s corporate tax rate is competitive even with Ireland’s 12.5% rate, at least from the lofty perspective of our own 35% top corporate rate: Canada’s rate is 15%. This inversion isn’t just the fiscally sound thing to do, it satisfies the company management’s fiduciary duty to control costs and maximize profits for the company’s owners.

BK isn’t alone in moving to Canada:

YGTBSM

This is what happens when you have a motor boat skipper for a Secretary of State. John Kerry, speaking through his spokeswoman, Marie Harf, had this to say about whether ISIS is at war with the United States:

(Unnamed) Reporter: I mean, even they are announcing, ISIL people in their message, whatever, the recorded message, other messages, that now we are in a war with America.
Kerry/Harf: This is not about ISIL versus the United States. They are killing anyone who gets in their way….
(Unnamed) Reporter: But they are announcing that it’s a war against America. Right or wrong, that’s what they are saying.
Kerry/Harf: Well, they can say whatever they’d like, but what I am making clear is that’s not what ISIL represents. And they don’t represent any religion. They are at war with everybody they come into contact with.

The Administration’s Considerations Regarding Resurgent Terrorism

Here we are, with the terrorist gang, ISIS, butchering American journalists, doing their best to exterminate Yezidis, Christians, fellow Muslims who don’t think like these thugs do, et al. Here we are with ISIS continuing to make significant military gains after their blitz through Iraq to the outskirts of Baghdad. Here we are with ISIS having successfully seized a military airfield in Syria.

Obamacare and Jobs

The results are starting to come in, via three independently done polls by three separate Federal Reserve Banks.

The Federal Reserve Bank of Philadelphia:

  • 78.8% of businesses in the district have made no change to the number of workers they employ as the specific result of ObamaCare
  • 3% are hiring more
  • 18.2% are cutting jobs and employees
  • 18% shifted the composition of their workforce to a higher proportion of part-time labor
  • 88.2% of the roughly half of businesses that modified their health plans as a result of ObamaCare passed along the costs through increasing the employee contribution to premiums, an effective cut in wages

In Which Governor Jindal Has the Right of It

Governor Bobby Jindal (R, LA) has some thoughts on the proper way to deal with ISIS and its ilk in a recent op-ed for Fox News.

I listened to the president last week as he appropriately conveyed Americans’ revulsion at this savage act and our grief at the Foley family’s loss. As usual, the president’s words were very eloquent. To his credit, the president was unequivocal regarding the evil of this terrorist group, and he took the time to list some of their crimes against humanity.

But.

Paying Ransom

Although I’m writing this article in the context of terrorist kidnappings, it should be noted that the principles discussed apply to any form of kidnapping.

The beheading of freelance journalist James Foley has forced a new debate between the longtime US and British refusal to negotiate with terrorists, and Europe and the Persian Gulf’s increasing willingness to pay ransoms in a desperate attempt to free citizens.

The case:

The dilemma: How to save the lives of captives without financing terror groups and encouraging more kidnappings.

Here’s the misunderstanding:

The Democrat’s View of “Justice”

[State Senator Maria Chappelle-Nadal (D, MO)] predicted Friday that if prosecutors don’t win a conviction against the police officer who shot 18-year-old Michael Brown, it could trigger a new wave of unrest in Ferguson.

“There’s several people out there including the protesters that I’ve been with this morning who seem to feel as though there won’t be a conviction,” she told Fox News.

“If that happens, we’re going to have exactly what you saw two weeks ago, with a lot of tear gas going all over the place.”

The Terrorist Threat

UK’s Prime Minister David Cameron had some thoughts.

Stability. Security. The peace of mind that comes from being able to get a decent job and provide for your family, in a country that you feel has a good future ahead of it and that treats people fairly. In a nutshell, that is what people in Britain want

And

I agree that we should avoid sending armies to fight or occupy. But we need to recognise that the brighter future we long for requires a long-term plan for our security as well as for our economy. True security will only be achieved if we use all our resources—aid, diplomacy, our military prowess—to help bring about a more stable world.

“US special forces tried to rescue hostages in Syria but failed”

So screamed a recent Fox News headline. And

The Obama administration sent US troops to Syria recently to attempt to rescue hostages being held by Islamic State militants, including journalist James Foley, but failed to find them, the Pentagon said Wednesday.

But why is the Obama administration mentioning this now, just after the beheading of Foley by these terrorists? There’s no reason at all, other than as another self-serving claim to be doing something in order to show that they’re doing something in response (!) to an act of monstrous barbarity. This administration also claims ISIS terrorists were killed in the raid. Really? Where—in the aftermath of that failure, or now, in the aftermath of the claim of that effort—are ISIS’ braggings about having inflicted such a defeat on the Great Satin?

Drug Markets and Regulation

With this attitude, we’re not going to have much of a drug development or production industry—to the detriment of our drug market.

“A big part of our concern is not just Sovaldi [a new, and so still very expensive, drug with a near-perfect cure rate for Hepatitis C], but all the other specialty drugs,” said Mario Molina, the CEO of Molina Healthcare that runs Medicaid and ObamaCare plans in nine states, on a July earnings call. He added: “I think that the government needs to step in here and make sure that the market is rational. If we as a health plan want a rate increase, we have to go to our regulators and get it approved. There’s no such thing going on in the pharmaceutical market.