Category Archives: Finance

Burger King Ethics: What’s Unethical About Burger King’s “Tax Inversion” (And It’s Not Burger King)

BKAs you may have heard by now, Burger King is preparing to merge with the larger Canadian equivilent of Dunkin Donuts, Tim Hortons and move the company’s headquarters to Canada. As with the proposed Walgreens move to Europe that was considered and ultimately rejected, the Burger King merger was made for tax reasons, and good ones. The good ones should be clearly explained to the American public, especially voters and those with unemployed workers in their families, but they are not. Let’s  call this BK Ethics Foul #1: news media incompetence. Because the public doesn’t understand what “tax inversion” means, they are vulnerable to having it distorted and demagogued for them by unethical politicians and pundits, and so it has been. Let us designate this BK Ethics Foul #2: the anti-corporate disinformation campaign.

The United States tax rate is  a whopping 35%, more than any other large industrial nation, even more than those that tend toward socialism. There’s nothing unethical about this, necessarily, though it can be argued that it is a foolish and self-destructive policy. Did you know, however—and I wouldn’t blame you if you didn’t, because not being an international corporation myself, I didn’t know until this issue arose—that the U.S. applies that tax to all global earnings of U.S. companies. This means that the earning of U.S. companies doing business abroad are not only taxed where they earn the profits, but also in the U.S., or as this is technically called, twice. (UPDATE: I should have made it clear that the the US does give a foreign tax credit for the money paid in taxes abroad, so the effect is not completely double tax, just two taxes.) That is definitely unfair (and also bad policy), and will be called BK Ethics Foul #3: predatory taxation Continue reading

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Filed under Business & Commercial, Citizenship, Finance, Government & Politics, Incompetent Elected Officials, Journalism & Media, Law & Law Enforcement

Great, Now Magneto Wants To Wipe Out Professional Theater…

Magneto McKellen

Maybe he should run for Vice-President on a ticket with Elizabeth Warren.

Quoth revered British actor Ian McKellen, Magneto (and Gandalf ) in the flesh:

“The one thing you can ask, I think, is that actors get paid a living wage. I would like it if all the repertory theaters that currently exist could do that. It would make a huge difference.”

It sure would. It would put most small professional theaters out of business, make theater unaffordable for any but rich theater-lovers, and eliminate a huge number of acting jobs. It is an idiotic, ignorant, irresponsible, but very, very nice, liberal, compassionate, well-intentioned and Elizabeth Warrenish suggestion that willfully ignores reality and basic economics—in other words, it is consistent with progressive mythology. We owe the Magster a debt of gratitude for illustrating exactly what is wrong with blanket endorsements of minimum wage increases and “living wages.” Continue reading

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Grand Master Of Deceit

"May the spin be with you..."

“May the spin be with you…”

I thought about adding his name to the title, but really: who else could I be referring to?

I think it’s good to know, comforting even, that Bill Clinton is still shameless, still at the top of his game, still adept at manipulating language for the deception of gullible listeners. So much changes! The Tunnel Tree lies on the forest floor among the great Sequoias, the Great Stone Face has fallen off the mountain, and Jennifer Connelly no longer looks like a Vargas Girl. Yet Bill Clinton goes on, spinning, parsing, obfuscating, lying like the master he is. It’s almost inspiring.

Almost.

Bill recently showed he was still in playing trim by offering a deceitful defense of his wife’s absurd claim that Hill and Bill were “dead broke” when they left the White House, telling NBC’s David Gregory that “It is factually true that we were several million dollars in debt.” Yup, and here are several other things that are factually true: Continue reading

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Unethical Quote Of The Week: SunTrust Bank

pop weasel2

“SunTrust supports the rights of all Americans to fully exercise their freedoms granted under the Constitution, including those with respect to free speech and freedom of religion.”

—-SunTrust Bank, doing its best Cracker Barrel imitation by reversing its decision, announced  earlier in the day, to pull all of its listed properties with the Benham brothers’ bank-owned property business.

SunTrust was following the lead of craven, political correctness bully-enabling HGTV, which a week ago announced it was canceling a planned home renovation show hosted by the Benhams as punishment for their conservative views on same-sex marriage, because, as we all know, gays are the heart and soul of the home renovation business. Thus emboldened, the bank decided that citizens opposing same-sex marriage as taught by the faith they had been raised to embrace deserved to have their business harmed, since that’s what the SunTrust suits’ moistened fingers in the wind told them their sensitive, right-thinking customers wanted.

But the announcement turned that wind into a roaring hurricane of protest from conservatives, and, we can at least hope, some actual liberals among Democrats who comprehend that banks should not be enforcers of the growing, un-American movement to make life nasty, brutish and short for anyone who dares to see the world differently from the news media, the universities, and the rest of the thought-crime legislators among us. Thus the quick reversal, and the noble words above.

So why is SunTrust’s impeccable affirmation of their iron-clad support for our precious freedom unethical? Continue reading

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Filed under Business & Commercial, Character, Citizenship, Ethics Quotes, Finance, Gender and Sex, Marketing and Advertising, Rights, U.S. Society

Anderson Cooper’s Reflections on Inheritance: Not Unethical, Perhaps; Just Ignorant, Self-Serving and Presumptuous

I was going to let this go, but it kept gnawing at me, and nobody in the news media called out Anderson Cooper on his outrageous misrepresentation of history and human character. I guess it’s up to me.

gloria-vanderbilt-anderson-cooper

“Thanks for nothing, Mom!”

Cooper is the son of fashion designer Gloria Vanderbilt, and thus an heir to one of the most storied of American family fortunes. Apparently Cooper has known for some time that he’s getting none of his mother’s estimated 200 million dollar estate, and he told Howard Stern recently that he was fine about it, an had no bitterness or regrets.

“I don’t believe in inheriting money, ” he told Stern. “That’s a total fantasy … I think it’s an initiative-sucker, I think it’s a curse. Who’s inherited a lot of money who’s gone on to do things in their own life? If I felt that there was some pot of gold waiting for me, I don’t know that I would have been so motivated.”

As for his mother, who inherited many millions and who still made a name for herself by launching a  line of designer jeans, Cooper told Stern, “I think that’s an anomaly.”

Cooper is free to adopt whatever myths and rationalizations that help him get over the fact that his mother is cutting him off. He is not free to misinform the historically ignorant that a tendency exists which may describe his own mental state but which is far from the presumptive norm with others throughout the centuries. “Who’s inherited a lot of money who’s gone on to do things in their own life?” The answer to that question is “Too many to mention, Anderson. Are you kidding? Do you know anything about history?”

Just counting U.S. Presidents, which I think even in this period of reduced stature among White House occupants, would still qualify as “doing something with your life,” we have Washington, Madison and Monroe, all of whom inherited substantial property and assets from their families, as did William Henry Harrison and his grandson, Benjamin Harrison. Both Roosevelts inherited substantial wealth; so did William Howard Taft, whose family was (and is) one of the richest in the U.S. Both Bush’s managed not to let the curse of inherited wealth undermine their wills to succeed. Continue reading

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Ethics Quiz: How Do We React Ethically To THIS?

"Oh, Naaaaancy! Naaaancy!

“Oh, Naaaaancy! Naaaancy!

Today,the Congressional Budget Office made this announcement, as reported by The Hill:

“The new healthcare law will cost the nation the equivalent of 2.5 million workers in the next decade, the Congressional Budget Office (CBO) estimated in a report released Tuesday. The nonpartisan agency found the healthcare law’s negative effects on the economy would be “substantially larger” than what it had previously anticipated. It said the equivalent of 2.3 million workers would be lost by 2021, compared to its previous estimate of 800,000. It also projected that labor force compensation would be reduced by 1 percent from 2017 to 2024 — twice its previous estimate — and that declining economic growth would add $1 trillion more to deficits.”

Well, of course. We, and by we I mean intelligent, objective people who pay attention to history and know how government programs work, knew this revelation, or some version of it, was coming along sooner or later. And yet, when the Affordable Care Act was being debated and railroaded through Congress–and that is a fair description of the strong-arm, gimmick-driven, dishonest and anti-Democratic manner in which  it was passed—critics who said the law would increase the deficit and the debt, not reduce them; that it would lose jobs, not create them, and that it would retard economic growth, not boost it were savaged by the media, commentators and Democrats, called obstructionists, cruel, liars and worse.

I particularly remember MSNBC’s Rachel Maddow, arguably the most credible of her far left colleagues, furiously railing, while serving as a reporter at the Republican National Convention, about the utter dishonesty of GOP speakers who kept saying—in defiance of the CBO projections, mind you!—that the AFA would increase the deficit, not reduce it. Chris Matthews, to give credit where it’s due, intervened and said, in essence, ‘Well, now Rachel, you have to admit that the record of big federal programs has not been good in this respect.’ No, she wouldn’t admit it. Continue reading

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Filed under Citizenship, Finance, Government & Politics, Health and Medicine, Incompetent Elected Officials, Journalism & Media, Leadership

When “Heartless” Is Responsible

The Neverending Emergency....

The Neverending Emergency….

Nancy Pelosi just designated the extension of unemployment benefits yet again—they were first extended in 2008 and have been continuously extended ever since—as Congress’s top priority for 2014, which is instructive. She called the Republican determination to end the extensions as “immoral;” others in her party and the media have called it heartless. “Starting tomorrow, too many American families will face the New Year with uncertainty, insecurity, and instability as a result of congressional Republicans’ refusal to extend critical unemployment insurance,” she said. “The first item on Congress’ agenda in the New Year must be an extension of unemployment insurance. That must be our priority on day one.” The budget deal cut between House Democrats and Republicans ends the extensions, unless something is done.

Pelosi’s argument is intellectually dishonest. I would like someone to define the exact point at which the number of families dependent on as yet unsuccessful job-seekers would no longer be regarded as “too many.” Isn’t any number too many? If the nation decides that it should provide a living stipend to the unemployed as long as they are jobless as policy, then so be it: I think that would be a mistake, as the Welfare experiment demonstrated and as the federal disability assistance programs continue to demonstrate, but that’s a debate that needs to be had. As seems to be habitual with the Democrats, they apparently want to make this the policy deceptively and without admitting so, by the device of never-ending “emergency extensions,” with spokespeople like Pelosi ready to hammer any opposition as a “heartless.” Continue reading

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