Wintery Knight

…integrating Christian faith and knowledge in the public square

Burger King leaves U.S. 35% corporate tax rate for Canada’s 15% corporate tax rate

Prime Minister Stephen Harper

Prime Minister Stephen Harper: all your base are belong to us!

Wow, I really hate Burger King, but this latest move leaves me very confused. Maybe I have to eat there now?

The Chicago Tribune reports on it.

Excerpt:

Canada has become the latest frontier for U.S. companies fleeing the high cost of business, spurred by low corporate taxes and a policy that keeps international earnings out of the clutches of the Internal Revenue Service.

Burger King, the second-largest U.S. burger chain, agreed to acquire Oakville, Ontario-based Tim Hortons on Tuesday for about C$12.5 billion ($11.4 billion) in a deal that creates the world’s third-largest fast-food chain and moves its headquarters in Canada. It’s “not fair” that companies can renounce their U.S. citizenship by filling out paperwork, a White House spokesman said Monday.

The deal for Oakville, Ontario-based Tim Hortons follows Valeant Pharmaceuticals’ merger with Canada’s Biovail in 2010, which sparked the latest so- called tax-inversion wave.

Burger King is unlikely to be the last U.S. company to consider moving north even as President Barack Obama and his aides try to curb the practice, tax experts say. In addition to avoiding U.S. taxes on global earnings, companies like Burger King can take advantage of Canadian tax rates that have been cut by about a quarter in the past eight years.

“We have now made it a lot more attractive for companies to say Canada is a good place to set up shop,” said Jack Mintz, director of the University of Calgary’s School of Public Policy.

[...]Lower corporate taxes may also be an attraction for foreign companies. Canada began cutting its federal corporate tax rate in 2001 under the previous Liberal government. Prime Minister Stephen Harper then took up the baton, dropping the rate in several steps to 15 percent in 2012. Combined with provincial rates averaging 11.5 percent, Canada’s rate of 27 percent is now the second-lowest in the Group of Seven countries behind the U.K.’s 21 percent, according to auditing and tax firm KPMG.

Canada’s combined rate is still above the 24 percent average for the Organisation for Economic Co-operation and Development, according to the report.

Low corporate tax rates helped the country rise to second place in a Bloomberg ranking of best countries for doing business in January, behind only Hong Kong.

“We are proud that our low tax environment in Canada attracts businesses,” Carl Vallee, a spokesman for Harper, said by email on Monday.

The U.S. corporate tax rate is the highest in the world. It warms my heart to think that corporations are moving out to Canada. And I hope they take the jobs with them, because that’s the only way people will learn to elect presidents who understand economics. Our leader is out of his depth trying to run this country, and is only able to his economic failures by borrowing trillions and trillions of dollars from our children. Anybody can appear competent if they borrow and spend that much money, but it’s a bubble, just like the housing bubble his party caused. Canada’s prime minister has a BA and MA in economics – he actually knows how economies work. We could have picked someone qualified, but we didn’t.

I fully expect Obama to whine like a little girl about this, and call Burger King “unpatriotic”. This is loser talk, because he is a loser. The limit of his knowledge of economics is that he makes snarky speeches insulting people who disagree with him. Why did we elect this stand-up comedian? Is that what a President is supposed to do?

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Happy Independence Day 2014!

The Stars and Stripes

The Stars and Stripes

The Declaration of Independence

Here’s the complete text of the Declaration of Independence here.

The best book to read about the Revolutionary War is David McCullough’s “1776”, which I highly recommend. The audio book version is awesome.

George Washington and the American Revolution

Washington Crossing the Delaware
Washington Crossing the Delaware

To really understand the founding of the United States, you should read about the story of Washington crossing the Delaware. At this point in the Revolutionary War, the British commanders had achieved a stunning series of victories against the Americans. They had even sent word home to the King that the war was over, and that the Americans would be forced to surrender. But Washington did not give up. He attacked the British forces and took them by surprise – and he won the Battle of Trenton! That was the turning point of the war. There almost never was a United States of America – that’s how close the revolution came to failing.

Ronald Reagan vision of America

Ronald Reagan
Ronald Reagan

Here is a portion of Ronald Reagan’s farewell speech:

Excerpt:

I’ve spoken of the shining city all my political life, but I don’t know if I ever quite communicated what I saw when I said it. But in my mind it was a tall proud city built on rocks stronger than oceans, wind-swept, God-blessed, and teeming with people of all kinds living in harmony and peace, a city with free ports that hummed with commerce and creativity, and if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That’s how I saw it, and see it still.

And how stand the city on this winter night? More prosperous, more secure, and happier than it was eight years ago. But more than that; after two hundred years, two centuries, she still stands strong and true on the granite ridge, and her glow has held steady no matter what storm. And she’s still a beacon, still a magnet for all who must have freedom, for all the pilgrims from all the lost places who are hurtling through the darkness, toward home.

This is no ordinary nation. But we need to be vigilant to make sure we don’t drift away from the vision of the Founders.

United States Air Force

United States Air Force

The Star Spangled Banner

Lyrics:

“Oh, say can you see by the dawn’s early light
What so proudly we hailed at the twilight’s last gleaming?
Whose broad stripes and bright stars thru the perilous fight,
O’er the ramparts we watched were so gallantly streaming?
And the rocket’s red glare, the bombs bursting in air,
Gave proof through the night that our flag was still there.
Oh, say does that star-spangled banner yet wave
O’er the land of the free and the home of the brave?

On the shore, dimly seen through the mists of the deep,
Where the foe’s haughty host in dread silence reposes,
What is that which the breeze, o’er the towering steep,
As it fitfully blows, half conceals, half discloses?
Now it catches the gleam of the morning’s first beam,
In full glory reflected now shines in the stream:
‘Tis the star-spangled banner! Oh long may it wave
O’er the land of the free and the home of the brave!

And where is that band who so vauntingly swore
That the havoc of war and the battle’s confusion,
A home and a country should leave us no more!
Their blood has washed out their foul footsteps’ pollution.
No refuge could save the hireling and slave
From the terror of flight, or the gloom of the grave:
And the star-spangled banner in triumph doth wave
O’er the land of the free and the home of the brave!

Oh! thus be it ever, when freemen shall stand
Between their loved home and the war’s desolation!
Blest with victory and peace, may the heav’n rescued land
Praise the Power that hath made and preserved us a nation.
Then conquer we must, when our cause it is just,
And this be our motto: “In God is our trust.”
And the star-spangled banner in triumph shall wave
O’er the land of the free and the home of the brave!”

America the Beautiful

Lyrics:

“O beautiful for spacious skies,
For amber waves of grain,
For purple mountain majesties
Above the fruited plain!
America! America!
God shed his grace on thee
And crown thy good with brotherhood
From sea to shining sea!

O beautiful for pilgrim feet
Whose stern impassioned stress
A thoroughfare of freedom beat
Across the wilderness!
America! America!
God mend thine every flaw,
Confirm thy soul in self-control,
Thy liberty in law!

O beautiful for heroes proved
In liberating strife.
Who more than self their country loved
And mercy more than life!
America! America!
May God thy gold refine
Till all success be nobleness
And every gain divine!

O beautiful for patriot dream
That sees beyond the years
Thine alabaster cities gleam
Undimmed by human tears!
America! America!
God shed his grace on thee
And crown thy good with brotherhood
From sea to shining sea!

O beautiful for halcyon skies,
For amber waves of grain,
For purple mountain majesties
Above the enameled plain!
America! America!
God shed his grace on thee
Till souls wax fair as earth and air
And music-hearted sea!

O beautiful for pilgrims feet,
Whose stem impassioned stress
A thoroughfare for freedom beat
Across the wilderness!
America! America!
God shed his grace on thee
Till paths be wrought through
wilds of thought
By pilgrim foot and knee!

O beautiful for glory-tale
Of liberating strife
When once and twice,
for man’s avail
Men lavished precious life!
America! America!
God shed his grace on thee
Till selfish gain no longer stain
The banner of the free!

O beautiful for patriot dream
That sees beyond the years
Thine alabaster cities gleam
Undimmed by human tears!
America! America!
God shed his grace on thee
Till nobler men keep once again
Thy whiter jubilee!”

Here is my favorite version of America the Beautiful, sung by Ray Charles.

Remember to be grateful for the Founding Fathers, and other patriots, who risked everything for liberty in the Revolutionary war. Be grateful to those men and women still fighting abroad to keep those freedoms safe from evil. And most of all, be grateful to God that America is still the beacon of liberty.

Happy Independence Day!

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Why celebrate Memorial Day? Why is Memorial Day important?

Arlington National Cemetary

What is Memorial Day? It’s the day that we remember all those brave men and women who have sacrificed to protect our liberties and our lives so that we could be safe from harm.

This video may help you to understand.

From Hot Air, a quote from Ronald Reagan.

Memorial Day is an occasion of special importance to all Americans, because it is a day sacred to the memory of all those Americans who made the supreme sacrifice for the liberties we enjoy. We will never forget or fail to honor these heroes to whom we owe so much. We honor them best when we resolve to cherish and defend the liberties for which they gave their lives. Let us resolve to do all in our power to assure the survival and the success of liberty so that our children and their children for generations to come can live in an America in which freedom’s light continues to shine.

The Congress, in establishing Memorial Day, called for it to be a day of tribute to America’s fallen, and also a day of national prayer for lasting peace. This Nation has always sought true peace. We seek it still. Our goal is peace in which the highest aspirations of our people, and people everywhere, are secure: peace with freedom, with justice, and with opportunity for human development. This is the permanent peace for which we pray, not only for ourselves but for all generations.

The defense of peace, like the defense of liberty, requires more than lip service. It requires vigilance, military strength, and the willingness to take risks and to make sacrifices. The surest guarantor of both peace and liberty is our unflinching resolve to defend that which has been purchased for us by our fallen heroes.

On Memorial Day, let us pray for peace — not only for ourselves, but for all those who seek freedom and justice.

And check some of my Medal of Honor posts:

I am listening to this podcast from the Heritage Foundation about the origin and meaning of Memorial Day.

God bless our soldiers, airmen and sailors!

For more reading, why not check out some of the military bloggers?

If you want to help out our troops, you can send them things through Soldier’s Angels.

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American health care: does it cause poor life-expectancy and high infant mortality?

Probably one of the best health care policy experts writing today is Avik Roy, who writes for Forbes magazine.

Here is his latest column, which I think is useful for helping us all get better at debating health care policy. (H/T Matt from Well Spent Journey)

Excerpt:

It’s one of the most oft-repeated justifications for socialized medicine: Americans spend more money than other developed countries on health care, but don’t live as long. If we would just hop on the European health-care bandwagon, we’d live longer and healthier lives. The only problem is it’s not true.

[...]If you really want to measure health outcomes, the best way to do it is at the point of medical intervention. If you have a heart attack, how long do you live in the U.S. vs. another country? If you’re diagnosed with breast cancer? In 2008, a group of investigators conducted a worldwide study of cancer survival rates, called CONCORD. They looked at 5-year survival rates for breast cancer, colon and rectal cancer, and prostate cancer. I compiled their data for the U.S., Canada, Australia, Japan, and western Europe. Guess who came out number one?

Here is the raw data:

Health care outcomes

Health care outcomes by country and type of treatment

Click here to see the larger graph.

So, what explains this?

The article continues:

Another point worth making is that people die for other reasons than health. For example, people die because of car accidents and violent crime. A few years back, Robert Ohsfeldt of Texas A&M and John Schneider of the University of Iowa asked the obvious question: what happens if you remove deaths from fatal injuries from the life expectancy tables? Among the 29 members of the OECD, the U.S. vaults from 19th place to…you guessed it…first. Japan, on the same adjustment, drops from first to ninth.

It’s great that the Japanese eat more sushi than we do, and that they settle their arguments more peaceably. But these things don’t have anything to do with socialized medicine.

Finally, U.S. life-expectancy statistics are skewed by the fact that the U.S. doesn’t have one health-care system, but three: Medicaid, Medicare, and private insurance. (A fourth, the Obamacare exchanges, is supposed to go into effect in 2014.) As I have noted in the past, health outcomes for those on government-sponsored insurance are worse than for those on private insurance.

To my knowledge, no one has attempted to segregate U.S. life-expectancy figures by insurance status. But based on the data we have, it’s highly likely that those on private insurance have the best life expectancy, with Medicare patients in the middle, and the uninsured and Medicaid at the bottom.

I know that my readers who like to dig deep into economics and policy will love the links at the bottom of the article:

For further reading on the topic of life expectancy, here are some recommendations. Harvard economist Greg Mankiw discusses some of the confounding factors with life expectancy statistics, citing this NBER study by June and Dave O’Neill comparing the U.S. and Canada. (Mankiw calls the misuse of U.S. life expectancy stats “schlocky.”) Chicago economist Gary Becker makes note of the CONCORD study in this blog post. In 2009, Sam Preston and Jessica Ho of the University of Pennsylvania published a lengthy analysis of life expectancy statistics, concluding that “the low longevity ranking of the United States is not likely to be a result of a poorly functioning health care system.”

The funniest thing I have found when talking to people from countries with socialized health care systems, like Canada and the UK, is that they are woefully uninformed about American health care. They literally do not know about free emergency room care, which is free for anyone regardless of insurance – including illegal aliens. They do not know about our expensive Medicaid program, which helps people who cannot afford health insurance. And our very very expensive Medicare program, which provides health care to the elderly – including prescription drugs. I get the feeling that foreign critics of American health care are getting their views from amateur documentaries produced by uneducated Hollywood propagandists, or maybe from TV shows on the Comedy Channel. They certainly are not getting their information from peer-reviewed studies by credentialed scholars from top universities, like the ones cited above.

I have literally spoken to Canadians who think that people in the USA without insurance do not get treatment and just die in the streets from stab wounds. They don’t know about the emergency room rule, or about charity care, or about Medicaid and Medicare. There is a lot of ignorance up there – wilful ignorance, in some cases. And keep in mind that the average Canadian household is paying over $11,000 a year for this substandard health care! They are paying more for less, and that’s not surprising since a large chunk of the taxes that are collected for health care go to overpaid unionized bureaucrats. Naturally, when their left-wing politicians need treatment, the first place they go is to the United States, where they pay out of pocket for the better health care. But that doesn’t stop them from denouncing American health care when they are talking to voters.

Higher infant mortality rates?

One of the other common arguments you hear from uninformed people outside the USA is the higher infant mortality rates argument.

Here’s an article by Stanford University professor Scott Atlas to explain why the argument fails.

Excerpt:

Virtually every national and international agency involved in statistical assessments of health status, health care, and economic development uses the infant-mortality rate — the number of infants per 1,000 live births who die before reaching the age of one — as a fundamental indicator. America’s high infant-mortality rate has been repeatedly put forth as evidence “proving” the substandard performance of the U.S. health-care system.

[...]n a 2008 study, Joy Lawn estimated that a full three-fourths of the world’s neonatal deaths are counted only through highly unreliable five-yearly retrospective household surveys, instead of being reported at the time by hospitals and health-care professionals, as in the United States. Moreover, the most premature babies — those with the highest likelihood of dying — are the least likely to be recorded in infant and neonatal mortality statistics in other countries. Compounding that difficulty, in other countries the underreporting is greatest for deaths that occur very soon after birth.

[...]The United States strictly adheres to the WHO definition of live birth (any infant “irrespective of the duration of the pregnancy, which . . . breathes or shows any other evidence of life . . . whether or not the umbilical cord has been cut or the placenta is attached”) and uses a strictly implemented linked birth and infant-death data set. On the contrary, many other nations, including highly developed countries in Western Europe, use far less strict definitions, all of which underreport the live births of more fragile infants who soon die. As a consequence, they falsely report more favorable neonatal- and infant-mortality rates.

[...]Neonatal deaths are mainly associated with prematurity and low birth weight. Therefore the fact that the percentage of preterm births in the U.S. is far higher than that in all other OECD countries — 65 percent higher than in Britain, and more than double the rate in Ireland, Finland, and Greece — further undermines the validity of neonatal-mortality comparisons.

You can listen to a podcast with Dr. Atlas here, from the Library of Economics web site.

If you want to read more about how American health care compares with health care in socialized systems, read this article by Stanford University professor of medicine Dr. Scott Atlas. And you can get his book “In Excellent Health: Setting the Record Straight on America’s Health Care” from Amazon.

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Dinesh D’Souza: What’s so great about America?

Dinesh D’Souza

Here is the essay, which provides an immigrant’s perspective on America (Dinesh is the son of East Indian immigrants).

Excerpt:

Is America worthy of a reflective patriotism that doesn’t mindlessly assert, “My country, right or wrong,” but rather examines the criticisms of America and finds them wanting? As an immigrant who has chosen to become an American citizen, I believe that it is. Having studied the criticisms of America with care, my conclusion is that the critics have a narrow and distorted understanding of America. They exaggerate American faults, and they ignore what is good and even great about America.

The immigrant is in a good position to evaluate American society because he is able to apply a comparative perspective. Having grown up in a different society-in my case, Mumbai, India-I am able to identify aspects of America that are invisible to people who have always lived here. As a “person of color,” I am competent to address such questions as what it is like to be a nonwhite person in America, what this country owes its minority citizens, and whether immigrants can expect to be granted full membership in this society. While I take seriously the issues raised by the critics of America, I have also developed an understanding of what makes America great, and I have seen the greatness of America reflected in my life. Unlike many of America’s homegrown dissidents, I am also acutely conscious of the daily blessings that I enjoy in America.

Here, then, is my list of what makes America great.

He focuses on the following areas:

  • America’s Good Life
  • Equality
  • The Pursuit of Happiness
  • The Ethics of Work
  • Religious Liberty
  • Ideals and Interests
  • America’s Virtue

Read the whole thing. It’s long it’s similar to his book of the same name, but up to date.

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