The Burger King acquisition of Tim Horton’s is the biggest thing in the news since the GOP declared that free health care would turn the U.S. into Canada. My God, what would be next, turning into Socialist Sweden?!
Consider this though. Canada is a part of NAFTA. When NAFTA was signed, U.S. companies fled to Mexico in droves for the cheap labor. Now U.S. companies may flee to Canada for…yes…lower taxes. The “Black Pit of Socialism” to the north has lower corporate taxes (17% in Canada vs. 26% in the U.S.).
There’s some criticism for Canada in the sense that personal taxes are higher than corporate taxes. However, Canadians get a lot of bang for their tax dollars: better infrastructure, free health care, a self-sustaining economy, a trade surplus with everyone they trade with, and…a democratically elected government with its own (Capitalist) stock exchange.
To boot, Canada has a progressive tax rate, where the more money an individual makes, the more they pay in taxes – unlike the U.S. Yes, Canada has a re-distribution of wealth, but so does the U.S.; only the U.S. redistributes from the poor to the rich.
And what does the U.S. taxpayer get for their tax dollar compared to Canada? Crumbling roads, bad sewers, contaminated water supplies, a trade deficit, a non-sustaining economy, and a government that’s a gerrymandered, non-functional mess.
In the 1990s, the cries went out when jobs were shipped to Mexico. If jobs get shipped to Canada, I for one will not complain. Immigration to Canada from the U.S. is fairly easy if you’re a skilled/educated worker looking for a job.