Burger King plans to avoid US taxes by pretending they're Canadian in a so-called "tax inversion," the Wall Street Journal reports. Tax inversions are where US companies buy a smaller foreign company and pretend they're not located here so the tax man can't collect. The president wants to close this loophole immediately, but Republicans are blocking it, saying they of course want businesses to pay US taxes, and they'll get on it right away ... the president just has to make all business tax laws perfect for Republicans first. They want comprehensive, years-long reform while all the horses bolt, and then after that they promise they'll close the barn door.
The president is seeking executive solutions.