Posted on 05/12/2014 6:17:42 PM PDT by ObamahatesPACoal
News that Pfizer, the world’s largest pharmaceutical company, plans to buy Britain’s AstraZeneca for $106 billion, renounce its U.S. citizenship and declare itself a British company has jolted Congress.
Pfizer is being denounced as disloyal to the land of its birth, and politicians are devising ways to stop Pfizer from departing.
Yet Pfizer is not alone. Hedge fund managers are urging giant corporations like Walgreens to go nation-shopping for new residences abroad to evade the 35 percent U.S. corporate income tax.
Britain’s corporate income tax is 20 percent, and Pfizer stands to save over $1 billion a year by moving there.
(Excerpt) Read more at wnd.com ...
Broken clock being right twice a day syndrome. Certainly is easy to say when the USA has the highest corporate tax rate on the entire planet.
Ain't going to happen with the proven liar, Obama. He would raise taxes on corporations if he had the chance.
Ain’t rocket science…except to zero.
Raise the import tariffs and lower individual and corporate income taxes.
That way, Pfitzer either produces the drugs in the U.S. or they pay for the privilege of accessing the U.S. market.
The Democrats would see this as “giving” a billion dollars a year to a giant company. They won’t stand for such corporate welfare!!!!
how about abolish ALL “income taxes” and abolish this 4 trillion dollar monster of a federal govt. that really needs to be stuck back in it’s constitutional box ?
I think Democrats are fixated upon making the U.S. the most anti-private business oriented nation in the world.
HAHAHAHA. I would have gone for Ireland but what the heck. Baby steps.
HAHAHAHAHAHA. Hey congress. Hey Obama. When you brag about having the highest tax rates in the world this is what you get... HAHAHAHAAHA.
ABSOFREEPINGLUTELY!
“Raise the import tariffs...”
The latest installment of How NOT to Win Friends and Influence Nation.
We do not live in a vacuum. If we begin tariffs, other nations will retaliate. It is reasonable tax rates that encourage companies to stay and pay and repatriate profits.
... plus having an effective Neuter, Spay & Release Program for Feral Attorneys.
Well, Pat is not late to this party: He has written three op-eds about replacing the income tax with a National Retail Sales Tax, now known as the FairTax:
1. “A tax whose time has gone?,” Tribune Media Services, April 17, 1991;
2. “Brave new world: no tax forms, no IRS,” Tribune Media Services, April 15, 1994; and
3. “Sales tax Alternative,” The Washington Times, July 14, 1997, p. A12.
As all of you know, FairTax abolishes the corporate income tax.
What disappoints is that Pat did not go all the way with his Tax Reform thoughts, as he did in 1991, 1994 and 1997.
But, calling for an end to corporate income taxes is a great start!
And, given the fragile economic climate we live in, could be a catalyst for even bolder steps to end the Obama depression!
Let them retailiate. Our exports are a fraction of our imports.
We need fewer international “friends” and more of our own people employed.
Corporations do not pay income tax; customers do. Corporations and other businesses are tax collectors for the welfare state to delude people into thinking that the top rate is only 39%.
“Let them retailiate. Our exports are a fraction of our imports.”
We need nations for all kinds of reasons - basing troops internationally, backing us at the UN, working with us at NATO, trade, intelligence, anti-terrorism, cooperation on a host of issues. For example, as the Fed “tapers” quantitative easing right now, for some reason Belgium has stepped up its treasury purchases.
Advocating the tariff approach is short-sighted and one dimensional.
The fact that we import so much is because it can be made more profitably overseas. Fix that.
“We need fewer international “friends” and more of our own people employed.”
If you want more employed, the solution is to make America the best choice for location - as in the concept of free market choice - by neutering attorneys, reducing taxes, scaling back the ridiculous number of laws that cost companies to be here. They’re moving because it has progressively become a lousy business environment.
Better for Obama to nationalize Pfizer and Walgreens.
Maxine Waters is a yes vote for doing that.
You can eliminate all taxes and regulations and you still aren’t going to compete with communist chinese wages.
The only way to make American more competitive that Chinese labor is to lower our wages down to the Chinese level.
We don’t owe those countries anything. It’s our market and if we want to charge for access to sell in it, then so be it. Tariffs worked great for us from the start of the country to the 1960s when we lowered them.
Now we have high unemployment and have lost a lot of our manufacturing base. Now we are depending on foreign nations.
Our founding fathers warned us about entangling ourselves with foreign nations. And now you want to sell out the country to buy their love. Well it won’t work.
... Put a 10 percent tariff on imports ...
I was with Mr. Buchanan up to this point. Eliminating the corporate income tax would create enough economic activity (and taxes) to easily offset current payments by corps.
I thought businesses weren’t paying taxes. I hear that from a lot of sources including conservative.
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