{"id":5016,"date":"2009-07-01T07:03:09","date_gmt":"2009-07-01T12:03:09","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=5016"},"modified":"2009-07-01T07:03:09","modified_gmt":"2009-07-01T12:03:09","slug":"there-was-a-time","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=5016","title":{"rendered":"There Was A Time…"},"content":{"rendered":"

…when going to Canada to escape the taxes was like going to Scotland for the cuisine.<\/p>\n

Well, the American people had Hope, and boy, did we get Change<\/a>:<\/p>\n

In a clear indication that Canada is starting to be considered a low-tax place to do business, Tim Hortons Inc. announced yesterday plans to shift its base of operations from Delaware to Canada for tax purposes.<\/p>\n

Further, analysts indicate this is also a sign of unease among corporations regarding the U. S. business environment, where taxes are likely heading upward to deal with trillion-dollar deficits and proposed health-care reforms and the White House is looking to crack down on companies that invest abroad.<\/p><\/blockquote>\n

Remember when Democrats used to whinge that the GOP was “exporting jobs?”<\/p>\n

Of course, Cap ‘n Enslave won’t so much “export” them as put them out on the curb to be hauled off, but I digress:<\/p>\n

In Canada, the federal corporate tax rate is headed to 15% in 2012, and the federal Conservative government has called on the provinces to get to a 10% business levy by the same time frame–for a combined 25% rate on corporate income. Alberta is already at 10%. British Columbia will be there in 2011, Ontario by 2013, and New Brunswick will go down further, to 8%, in 2012.<\/p>\n

In the United States, the top corporate tax rate is in the mid-30% range. As a result, the United States now has about the highest combined corporate tax rate, second only to Japan, among industrialized countries.<\/p>\n

“This is an indication that Tim Hortons has looked at the structure, and they think Canada has a competitive tax system … but I think it is forecasting into the future that Canada is likely to stay that way,” said Len Farber, senior tax advisor at law firm Ogilvy Renault and former top-ranking official at the Department of Finance.<\/p><\/blockquote>\n

Hm.\u00a0 Maybe that’s <\/em>why all those celebrities who promised to move to Canada back in 2004 didn’t actually do it; they realized that the US was going to become <\/em>everything that Canada was, and vice versa.<\/p>\n

<\/blockquote>\n

(Via KB<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"

…when going to Canada to escape the taxes was like going to Scotland for the cuisine. Well, the American people had Hope, and boy, did we get Change: In a clear indication that Canada is starting to be considered a low-tax place to do business, Tim Hortons Inc. announced yesterday plans to shift its base […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-5016","post","type-post","status-publish","format-standard","hentry","category-socialism"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/5016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5016"}],"version-history":[{"count":0,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/5016\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5016"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}