Tax Dodgers and Illegal Immigrants

Too bad, illegal immigrants can't buy an American, legitimize their citizenship and move to America, land of the free, the brave and tax dodgers.

The same principle applies to Burger King, a hallowed American tradition of fast food, fast cars and fatuous people. 

Burger King, an American Corporation, plans to move its headquarters to Canada, a country vilified by less than liberal American politicians for its socialized medicine and high taxes. Yet Burger King will cut its tax bill, some say, from 39.1 percent in America to 15 percent in Canada. 

According to the General Accounting Office, U.S. corporations paid an average effective federal tax rate of 12.6 percent in 2010. The report, which looked at corporations with at least $10 million in assets, said $74 billion escaped the grasp of the IRS between 2009 and 2012.

Even when foreign, state and local taxes were taken into account, the companies paid only 16.9% of their worldwide income in taxes in 2010, according to a CNN Money article.

The federal corporate tax rate stands at 35%. It jumps to 39.2% when state rates are included.

But corporations pay a much lower rate, courtesy of tax credits, exemptions and offshore tax havens, the article said.

Virginia-based corporations generated 4 percent of total revenue collected by the state, according to a monthly report published by the state's Secretary of Finance. By comparison, individuals generated 82 percent of taxes collected by the state.

How's that for your fair share?

Lost in the noise is that 99 percent of BK's outlets are privately owned and operated through franchise agreements. Those owners pay state and local taxes.

So, really, what's the beef?

Is BK being held to a different standard than other companies? Who cares? Let them move. Most companies today hold no allegiance to American standards and laws, unless it suits them, and if their shares are traded on the New York Stock Exchange or the NASDAQ stock exchange. 

We have to get over this naive assumption that American corporations are truly American. Ipod, iPads, Androids and the components for these gadgets are made in other countries. Every time you open your Mac Book Pro, remember that a filthy little foreigner built this toy for you with his own hands.

Tax breaks are rampant in our economy, especially if you own property. If you don't, tough luck buddy. Go stand in line at Social Services and see if you can get food stamps or health care. 

But if you're too big to fail, you are too big to pay taxes. Us? We're too small to fail. Miss a few payments or owe a few thousand on a medical bill and debt collectors will hound you into an assisted living facility. (nursing home)

But if you're too big too fail, you're also too big to pay taxes. 

Financial giant Citigroup Inc. will get to write off $3 billion of its $7 billion settlement with the government over bad mortgage securities. 

The costs incurs in providing $2.5 billion in assistance to distressed homeowners and other consumer relief and $500 million Citigroup is paying to state attorneys general and the Federal Deposit Insurance Corp. will be tax deductible, according to a Wall Street Journal article. The $4 billion fine the bank is paying to the Justice Department will not be deductible, however, the article said. 

Now that's a whopper. 

So, really, what's the beef?