Warren Buffett, who thinks Americans should pay more taxes, has no problem making money from a deal designed to help Burger King avoid paying higher taxes. Bloomberg reports.
Warren Buffett’s Berkshire Hathaway Inc. is providing $3 billion of financing for Burger King Worldwide Inc.’s planned takeover of Tim Hortons Inc. and will earn 9 percent annual interest on the investment. …
… Burger King today said it would acquire the Oakville, Ontario-based coffee-and-doughnuts chain for about C$12.5 billion ($11.4 billion) in a deal that creates the third-largest fast-food company and moves its headquarters to Canada.
Why move to Canada? Lower corporate tax rates. It’s the type of move Mr. Buffett’s friends in the Obama administration have decried.
