http://finance.yahoo.com/news/renouncing-corporate-citizenship-001240207.html
"Alarmingly, dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there while still enjoying the benefits of doing a large part of their business in the United States. AbbVie, a drug company spun off from Abbott Laboratories, is in talks to merge with its rival Shire, based in Ireland, Europes equivalent of a tax haven. Medtronic announced plans to merge with Covidien, also based in Ireland. Similarly, Pfizer sought to buy AstraZeneca, based in Britain, where the tax rate is lower than it is in the United States, but AstraZenecas board rejected that offer.
In Walgreens case, an inversion would be an affront to United States taxpayers. The company, which also owns the Duane Reade chain in New York, reaps almost a quarter of its $72 billion in revenue directly from the government; it received $16.7 billion from Medicare and Medicaid last year."
It is unconscionable that Walgreen is considering this tax dodge especially in light of the billions of dollars it receives from U.S. taxpayers every year, Nell Geiser, associate director of Change to Win Retail Initiatives, a union-financed consumer advocacy group, said in a statement.
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My gripe about Hobby Lobby is simply that corporations are not supposed to have consciences. That's why they exist.
"Alarmingly, dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there while still enjoying the benefits of doing a large part of their business in the United States. AbbVie, a drug company spun off from Abbott Laboratories, is in talks to merge with its rival Shire, based in Ireland, Europes equivalent of a tax haven. Medtronic announced plans to merge with Covidien, also based in Ireland. Similarly, Pfizer sought to buy AstraZeneca, based in Britain, where the tax rate is lower than it is in the United States, but AstraZenecas board rejected that offer.
In Walgreens case, an inversion would be an affront to United States taxpayers. The company, which also owns the Duane Reade chain in New York, reaps almost a quarter of its $72 billion in revenue directly from the government; it received $16.7 billion from Medicare and Medicaid last year."
It is unconscionable that Walgreen is considering this tax dodge especially in light of the billions of dollars it receives from U.S. taxpayers every year, Nell Geiser, associate director of Change to Win Retail Initiatives, a union-financed consumer advocacy group, said in a statement.
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My gripe about Hobby Lobby is simply that corporations are not supposed to have consciences. That's why they exist.
