'Fleeing in Droves': Varney Says Burger King Moving to Canada Due to 'Anti-Business' Climate
One of the country's most visible fast food chains is moving its operations out of the United States in an apparent bid to save tax dollars. According to Fox Business, Burger King completed a deal Tuesday morning to buy Canadian coffee and doughnut chain Tim Horton's.
Some critics are calling out the iconic burger maker as being un-American, but Stuart Varney pointed out this morning that Burger King simply wants to get away from the world's highest corporate tax rate and an overall "anti-business" climate created by the Obama administration's regulatory policies.
He argued that the idea of an American company moving to Canada for more growth and less regulation would have been hard to fathom a few decades ago.
"Corporations are fleeing in droves to a less regulated environment. Who would have thought, say 20-25 years ago, that American companies would jump ship, go to Canada of all places, for lower taxes, less regulation, more growth? Who would have thought? he asked.
Varney also pointed out that the Burger King move is being driven in part by Warren Buffett, one of President Obama's biggest corporate supporters. He called it "astonishing" that Buffett worked to make the deal given his ties to the president.