The recent decision by Burger King to acquire Tim Hortons and move the company to Canada has renewed the debate over corporate tax reform. Under current law, companies can reduce some of their tax liability on global income (revenue earned outside the U.S.) if they are headquartered abroad. Some policymakers say this is unpatriotic. Others say it’s commonsense and proof the U.S. needs to close loopholes and lower corporate tax rates. Is this the tipping point? Is it time for comprehensive tax reform?
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