Why It Makes Sense for Burger King to Become a Canadian Company

How many iconic American companies have to leave or threaten to leave these shores for foreign lands before Washington acts to fix our anti-growth tax system and keep firms, profits, and jobs here in the U.S.?

Burger King became the latest Fortune 100 company to announce it is looking to leave. The company is considering a deal to merge with Canadian restaurant chain Tim Hortons and move its headquarters north across the border. The multi-billion dollar deal would make the $11.4 billion hamburger company now based in Miami a Canadian firm valued at more than $21 billion. The technical term for this transaction is an “inversion.”

Why is it happening? The combined federal and state corporate income tax rate in Florida is 38.6 percent, near the highest in the world and more than a third higher than the combined national and provincial rate of 28.0 percent in Ontario, Canada. This is costing American workers jobs and the U.S. capital investment.

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