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Started By
Message
If you don't like it, leave!
Posted on 8/27/14 at 6:15 pm
Posted on 8/27/14 at 6:15 pm
I hear that quite often from both sides of the fence.
And it got me thinking... Burger King is leaving because they don't like the tax percentage.
Is this what they meant or how does this whole "Leave the US if you don't like it here" thing work?
And it got me thinking... Burger King is leaving because they don't like the tax percentage.
Is this what they meant or how does this whole "Leave the US if you don't like it here" thing work?
7
Posted on 8/27/14 at 6:17 pm to gatorrocks
quote:
And it got me thinking... Burger King is leaving because they don't like the tax percentage.
Not patriotic. Booo that corporation.
Posted on 8/27/14 at 6:19 pm to RogerTheShrubber
Meh. I used to be patriotic too. Then I started to pay attention...
Posted on 8/27/14 at 6:23 pm to gatorrocks
All I know is...I am about to add BK back into the rotation in support of this move.
Posted on 8/27/14 at 6:24 pm to gatorrocks
quote:
I used to be patriotic too. Then I started to pay attention...
"Patriotism is the last refuge of a scoundrel."
- Samuel Johnson
Posted on 8/27/14 at 6:25 pm to udtiger
At least they are taking action instead of waiting on their "Representatives" in DC to do anything.Posted on 8/27/14 at 7:10 pm to gatorrocks
I support BKs move to keep more of its money.
Posted on 8/27/14 at 7:15 pm to papasmurf1269
quote:
I support BKs move to keep more of its money
This.Its clear the US is leaning too much om Companies to fix its problems, but they aren't leaving, just trying to cut their tax burden....survival....Not leaving, I think...
Posted on 8/27/14 at 7:28 pm to CamdenTiger
Canada has a lower corporate tax rate because they have a significantly higher individual tax rate.
Maybe we should follow their lead.
Maybe we should follow their lead.
This post was edited on 8/27/14 at 7:29 pm
Posted on 8/27/14 at 7:31 pm to Tiger n Miami AU83
quote:
Canada has a lower corporate tax rate because they have a significantly higher individual tax rate.
Maybe we should follow their lead
No thanks.
Posted on 8/27/14 at 7:33 pm to Tiger n Miami AU83
Isn't Canada's top individual rate 29 percent?
Posted on 8/27/14 at 7:34 pm to WildTchoupitoulas
quote:"Enough is enough! I have had it with these motherfricking snakes on this motherfricking plane!"
"Patriotism is the last refuge of a scoundrel."
- Samuel Johnson
- Samuel Jackson
Posted on 8/27/14 at 7:36 pm to Scruffy
quote:
"Patriotism is the last refuge of a scoundrel."
- Samuel Johnson
"Enough is enough! I have had it with these motherfricking snakes on this motherfricking plane!"
- Samuel Jackson
"There's nothing more Patriotic than avoiding your taxes, mother fricker"
-Vols&Shaft
Posted on 8/27/14 at 7:41 pm to BBONDS25
Yep. But not many deductions. Their effective tax rate with the provincial taxes gets pretty high. I have some dual resident Canadian clients and they always have excessive credits they can't use and carry over every year because their overall Canadian liability is always higher than their U.S. liability.
Total provincial taxes can be as high as 28.7% IN ADDITION to the federal taxes. Your talking 50%+ combined tax rates for some in Canada. While most in the U.S. are more like 15-18% effective rates.
quote:
•15% on the first $43,953 of taxable income, +
•22% on the next $43,954 of taxable income (on the portion of taxable income over $43,953 up to $87,907), +
•26% on the next $48,363 of taxable income (on the portion of taxable income over $87,907 up to $136,270), +
•29% of taxable income over $136,270.
Total provincial taxes can be as high as 28.7% IN ADDITION to the federal taxes. Your talking 50%+ combined tax rates for some in Canada. While most in the U.S. are more like 15-18% effective rates.
This post was edited on 8/27/14 at 7:44 pm
Posted on 8/27/14 at 7:51 pm to Tiger n Miami AU83
But the fed rate is 29. You said the reason the corp rate is so low is because of individual rates. How to province rates help the Feds cover the "loss" on corporate rates?
Posted on 8/27/14 at 8:02 pm to BBONDS25
Good point. I would have to compare some more. I didn't really think that through entirely as I'm not used to differentiating between the two when I'm reviewing a return an accountant prepares. Fed or provincial tax is all the same for the credit.
Their base is a lot bigger though and they don't have the deductions we do or anywhere close.
Their base is a lot bigger though and they don't have the deductions we do or anywhere close.
Posted on 8/27/14 at 8:07 pm to Tiger n Miami AU83
quote:
Their base is a lot bigger though and they don't have the deductions we do or anywhere close.
We really should expand the tax base.
Posted on 8/27/14 at 8:12 pm to SmackoverHawg
No doubt about it.
Canada, you have to file if you have over $3k in income. U.S. it is $10k.
Our base is smaller as a percentage of the population by a lot.
Canada, you have to file if you have over $3k in income. U.S. it is $10k.
Our base is smaller as a percentage of the population by a lot.
Posted on 8/27/14 at 8:16 pm to Tiger n Miami AU83
And I think everyone should pay something. I also think a raise in tax rates should be across the board. There shouldn't be a way to raise taxes on one group of people and not others. I imagine folks would pay a lot more attentions to the spending habits of their politicians if they knew it was gonna take a bite out of their arse too.
Posted on 8/27/14 at 9:00 pm to SmackoverHawg
Canada has high state (province) taxes and also a 5% national sales tax.
Are Republicans wanting to do everything like Canada, now?
Are Republicans wanting to do everything like Canada, now?
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