During the 2012 campaign, President Obama hammered Mitt Romney and the Republicans on tax policy, citing Warren Buffett’s claim that he paid less income taxes than his secretary.
Now Buffett is helping to finance Burger King’s purchase of Canadian donut chain Tim Hortons Inc. The purchase will allow Burger King to move its headquarters to Canada and reduce its corporate income taxes.
No one should be surprised at Buffett’s duplicity. He built his Berkshire-Hathaway empire by exploiting the inheritance tax -- buying small companies when the heirs had to sell to pay the tax.
Obama and the Democrats have been very critical of corporate inversions. Will they now criticize a billionaire who helped reelect the president?
- Roland Camp, Munster