Krauthammer on taxes, Burger King, and inversions:
America’s 35 percent corporate tax rate is absurdly uncompetitive. Companies are doing what they always do: legally lowering their tax liabilities.
What is maddening is that the problem is so easily solved: tax reform that lowers the accursed corporate rate. Democrats and Republicans agree on this. After the announcement of the latest inversion, Burger King buying Tim Hortons and then moving to Canada, the president himself issued a statement conceding that corporate tax reform — lower the rates, eliminate loopholes — is the best solution to the inversion problem.
It’s also politically doable.
I doubt however that it’s politically desirable for this White House. Except for the occasional embarrassment like the Burger King inversion, our convoluted tax code affords too many opportunities for graft and punishing enemies for this Chicago crew to ever give it up.