After Tough Talk on Corporate Inversions, Hillary Clinton to Fundraise with Warren Buffett

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Free Beacon:

Just a week after Hillary Clinton announced her plan to stop corporate tax inversions, she is traveling to Nebraska to fundraise with Warren Buffett, who led Burger King’s corporate inversion to Canada last year.

 

Clinton said last week that billionaires like Buffett are using corporate inversions to “game the system” and said that their actions are “offensive” to everyday taxpayers.

 

“I want the Treasury Department to do everything it can to stop that kind of behavior and call it for what it is: gaming the tax system,” said Clinton. She said that if new legislation is not created, she will take executive action as president to create a new “exit tax” designed to stop companies from slashing their tax bill by moving overseas.

 

Buffett’s Berkshire Hathaway was instrumental last summer in Burger King’s purchase of Tim Hortons, providing $3 billion from for the transaction. The deal, which made Burger King the third-largest fast food chain, allowed the restaurant to move its headquarters to Canada and significantly lower its tax burden.

 

Buffett admitted that it was a corporate inversion but said that tax evasion was not the reason for the purchase. The primary concern was to “make the Canadians happy.”