Tax Inversion Stealing from US taxpayers

Tax inversions began attracting attention earlier this year when the drug company Pfizer attempted unsuccessfully to take over AstraZeneca, a British company. Nearly 50 U.S.-based companies have merged with or acquired foreign businesses over the past decade in inversions, the Congressional Research Service said.
Pfizer management and BOD lack integrity and should be ashamed.

 

Good to know that President Obama and Congress will close this tax loop hole to avoid taxes.

 

It is part of Imperative Number 1: Be respected by Wall Street.

 

BS. It is a legitimate strategy to flee the idiotic policies promoted by the current president and democratic party. They are killing U.S. Business in a competitive world economy.

 

How about fix the fucking tax code?! If Washington wasn't spending so much money, they wouldn't need all that tax revenue.

 

typcial ditto head Rush listening to imbecile

do you understand that both parties are killing the middle?

the democrats hate white working middle class people and are entirely controlled by fringe elements(blacks, lesbians, wiccans, muslims, etc) and just want to redistribute money from those who have it to those who don't want to work

the republicans are no better - the hate middle class working people of any color - they use religion and patriotism to gather votes but when their actions are examined - all they do is look out for the interests of the 1% or those people who make 2.5 million a year or more

both are pieces of shit

we need a revolution where anyone who isn't willing to work - rich or poor is eliminated.

 

Actually Rush and Hannity stopped shilling for the Republican Party a long time ago. The Repub establishment is almost as leftist as the Dems. They just think they can run socialism better than the scumbag Dems who always push it through.

yes a revolt is in order, but the flushing/purging of the guilty corrupted would be so vast it would take 100 years.

 

Most of the leadership in the pharmaceutical industry are scoundrels who would sell their mother and children for a profit.....that is exactly what Ian Reed showcased when he tired to bully AZ.

There needs to be a sense of responsibility between private and profit enterprise. The NIH provides the foundational leads which eventually generate cures.

We in the USA (meaning tax payers) carry most of the research load for the world and for Pfizer to deploy sinister tax avoidance strategy really sucks.

 

So much agree. This CEO deserves to be put on a PIP. Won't you please get somebody with a speck of morality to run this company?

 

You get the prize for being the stupidest person on this board, which really takes some doing. Instead of vomiting Conservative dogma go read up about how some of the biggest US corporations pay very little if any taxes already. Thanks to endless loopholes the average tax rate for large corporations was only 12% in 2011. That's a lower rate than I pay. Pfizer pays 27% tax on profits, a reasonable amount considering the damage to this country they've done since 2000. It's amazing how the richer a person or corporation is, the more determined they are to avoid paying their FAIR SHARE. Warren Buffett's secretary pays a higher tax rate than he does.

 

yes...of course it is "stealing" the taxpayers money. because the evil corporations certainly didn't deserve to earn or keep it. nor do they have any right to look for a more advantageous way to protect their ill gotten gains.
and, of course the corporations bleed their tax dollars right to the government...they would never think to pass along the cost of excessive taxes to their customers.
and heaven forbid the government try to reduce the tax burden, or look at a flat tax without any loopholes or deductions. our government is the perfect model of efficiency and has no sliver of fraud or abuse that could be corrected to lower tax burdens. just send in more and more and more
you socialists are out of your freaking minds

 

Agree Ian Reed took a big misstep for taking on this issue without thinking it thoroughly.

 

To post #10, I need to point out that Warren Buffett's income is mainly derived from capital gains and other long term investments. His secretary's main source of income is from wages subject to the Federal marginal tax rates. Depending on her income, she could be paying a tax rate of at least 33%. This would by definition be higher; but you are comparing apples to oranges.

 

Relax killer....

So tell me then...why are all these companies fleeing the U.S. if they are finding loopholes here and not paying their fair share? Please tell me all-knowing one, if U.S. corporations are paying little to no taxes, then why are they moving to Europe. Your the fucking dumb ass.

 

You must be a Son of a Tax Dodger and the feds and the IRS will be soon looking for u.

 

Because they have no scruples just like you and IAN REED.
And you may think that is good company to be in.

 

Your argument blew itself apart. the avg. tax rate for large corporations may be 12%, but we pay 27%. This leads me to believe Pfizer is not granted many of the tax exclusions other corporations receive in the US so is it wrong to move to a country that will lower the tax? plus the taxes are a red herring the public is jumping on, what we really want is access to the 35+ billion in cash we earned on over seas sales. Remember the govt. wants to tax that money (revenue earned and taxed outside the US) at the highest corp. tax rate of 35%. How is that moral or fair?

And finally, what is a FAIR SHARE? Is 27% fair? What about the effective tax rate you or I paid last year is that FAIR? What about the people who pay no Federal income tax are they paying a FAIR SHARE? What about those who take the earned income tax credit which allows individuals to receive a greater return than what they paid, is that FAIR?

Reality is Govt. has helped lower the wages in this country by augmenting or supplementing incomes. By giving govt. assistance they've allowed businesses to not pass on profits through higher wages. This has left companies sitting on huge stockpiles of cash which the Executive Leadership feels is theirs. This is the and the rigged stock market have allowed the proliferation of the pass through of wealth to the top 1%. Now the govt. is out of cash so they're going to business asking them to pick up the slack and business is telling them to go jump off a bridge. If you mess with us, we'll move to another playground with our ball.

So how do you fix the problem? Govt. approach business as a valued partner and share the burden of fixing this great country. First step is lowering the repatriation tax if that money is passed on to the employees or used to build corporate infrastructure in the US. Not to be used for executive bonuses or stock buy backs.



When you make statements like "Pfizer pays 27% tax on profits, a reasonable amount considering the damage to this country they've done since 2000" you sound like so many other zealots. Who are you to judge who pays and who doesn't for some perceived indiscretion that may or may not have occurred in the past 14 years. Yes Pfizer should pay taxes in the US, and will continue to do so even if a major purchase happens. We shouldn't expect others to do what we aren't willing to do.

 

shut up. Pfizer pays enough. Let others that owe pay! moochers - they want everything for free. Do you know how much Pfizer has to pay everyone else to do research? Clinical trail & research to hospitals and medical groups who want their money??? How about when a drug doesn't reach it to market? Who pays the physician practices who did the research> Pfizer does! If it closes, Pfizer still has to pay. What is gonna happen if you keep complaining and Pfizer STOP research? Your family member has cancer and guess what? Pfizer has to stop research because it may never come to be FDA approved? Don't you want to at least try a new drug on someone with low survival? I know I would!

 

You are a brain washed monkey!
Taxes are needed to make a society function.

 

Nonsense
$$ flies ALL over the place on dopey and wasteful and greedy missions !!!!!!
Maybe we should try sticking to "research" and stop wasting, poaching, and stealing?
Boo Hoo
Gravy train is slowing down.