Obama Pal Warren Buffett Helping Burger King Exercise ‘Unpatriotic Tax Loophole
So, Warren Buffett, who has been championing King Hussein’s “Rape the Rich” tax plan, is putting together, and partially financing (25%) the $10 billion deal between Burger King and Tim Horton’s Canadian doughnut/coffee chain.
The motive driving the deal – Burger King gains a foreign domicile to take advantage of perfectly legal “tax inversion,” thus saving millions in egregious US corporate taxes.
From The Wall Street Journal:
The White House might need a new poster child for its “tax fairness” campaign.
Famed billionaire investor Warren Buffett, who President Barack Obama has lauded and named a signature proposal after, is helping finance a deal that would allow Burger King WorldwideInc. to reincorporate in Canada and potentially reduce its U.S. tax bill through a so-called inversion, the Journal reported late Monday.