Workers & Economic Inequality

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Broken levy: How U.S. tax law encourages inversions

TCF fellow Edward D. Kleinbard has been quoted in an article about corporate tax inversions on The Deal.

An innocuously named species of transaction has inspired a political furor this summer. After a number of U.S. companies announced plans to move overseas in so-called inversion deals, Sen. Carl Levin proposed banning them outright. President Barack Obama called the companies unpatriotic. Because of the controversy, Walgreen Co. backed away from structuring its $18 billion purchase of Alliance Boots GmbH as an inversion, while the possibility that inversions will be barred may be pushing other U.S. corporations to consider doing them.

Read more: Broken levy: How U.S. tax law encourages inversions - The Deal Pipeline (SAMPLE CONTENT: NEED AN ID?)

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Tags: taxes, tax inversions, corporate taxes, corporate tax, corporate profit

Is the Burger King-Tim Hortons Deal About More Than Taxes?

TCF fellow, Edward D. Kleinbard has been quoted in an article about Burger King moving its headquarters to Canada on The New Yorker.

On Tuesday, Burger King confirmed that it had agreed to acquire Tim Hortons for eleven billion dollars and would be moving its headquarters to Canada. When the two companies first acknowledged their discussions on Sunday night, one common reaction was: Canada? Tim Hortons, a coffee-and-doughnut chain named after the hockey player who founded it, is known among Canadians for its signature coffee and among people everywhere else for its Canadianness—that is, if it’s known at all.

For years, the chain has tried, and failed, to do more business outside of Canada. Although it makes sense that Tim Hortons might benefit from combining with Burger King, which has done much better in the U.S. and abroad, people have had a hard time understanding the appeal for Burger King—not only of acquiring Tim Hortons but of moving its headquarters up north.

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Tags: taxes, tax inversions, corporate taxes, corporate tax, corporate profit

Warren Buffett is ‘betting against America’ on Burger King. Or is he?

TCF fellow, Edward D. Kleinbard has been quoted in a LA Times article about Warren Buffett's investment in the Burger King corporate inversion deal.

Back in February, in his annual message to shareholders in his company Berkshire Hathaway, Warren Buffett said this:

"Who has ever benefited during the past 237 years by betting against America? ... America's best years lie ahead."

You can expect these words to be thrown back in Buffett's face this week (as we're doing), as word spreads of his investment in a corporate "inversion" deal, in which Burger King will relocate its tax home to Canada.

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Tags: taxes, tax inversions, corporate taxes, corporate tax, corporate profit

The Threat That Could Scar the Economy for Decades

TCF fellow, Andrew Fieldhouse writes about the need for U.S. policymakers to address the impacts of the recession, in an article for The Fiscal Times.

Despite some signs of improvement, the U.S. economy remains far from healed. And the longer the slump persists, the nastier the lingering scar that will mar the economy for decades to come.

By the best measures of economic health, more than five years after the recession ended the U.S. economy is only one-third to half the way to fully recovered. But hidden beyond the immediate tolls of inadequate recovery, notably high unemployment and depressed incomes, lies another grave cost: The economy’s potential health and productivity is atrophying from this prolonged spell of stagnation. 

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Tags: unemployment rate, stimulus spending, stimulus, recession, federal reserve, economy policy, economy, economics, economic stagnation, economic recovery

Labor Rights are Civil Rights

TCF fellow Richard D. Kahlenberg talks to Labor Lines about why labor organizing should be a civil right.

Chris Perez examines “Why Labor Organizing Should be a Civil Right” a book which offers a unique solution to the anti-union discrimination that has become so prevalent in the United States. Finally, several aspiring union women labor broadcasters interviewed each other about training female leaders in the union movement.

Listen to the podcast in full

Tags: unions, union rights, union organizing, union movement, labor unions, labor rights, labor organizing as a civil right, labor organizing, labor movement

Politics and Reality Radio: Edward D. Kleinbard discusses his new book

TCF fellow, Edward D. Kleinbard talks about his soon-to-be released book about Government spending, as well as his thoughts on corporate taxes, on Politics and Reality Radio.

Listen to the full podcast below:

Tags: taxes, taxation, tax system, government spending, corporate taxes, corporate tax, corporate profit


Workers & Economic Inequality

Workers & Economic Inequality

In recent decades, and especially since 2000, the richest Americans have enjoyed soaring income and wealth while the rest of the population's living standards have stagnated. The Century Foundation was one of the first institutions to raise serious concerns about these trends and propose ideas for improving economic conditions for all Americans- not just the fortunate few.

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