by Hedrick Smith | Dec 15, 2015 | Democracy, Tax Reform
If you wonder what price we all pay for corporate money flooding political campaigns ($1.7 billion in 2014), see Exhibit A — the decision by pharmaceutical giant Pfizer to renounce its U.S. citizenship and become an Irish company in order to duck U.S. corporate income...
by Dave Johnson | Dec 9, 2015 | Blog, Economy, Tax Reform, Trade
See if this business model sounds familiar: ● Close American factories and offshore production to a low-wage country with few environmental regulations. (Note: moving a factory out of the country "increases trade" and they say that's a good thing.) ● Replace...
by Robert Reich | Dec 7, 2015 | Blog, Economy, Tax Reform
Just like that, Pfizer has decided it’s no longer American. It plans to link up with Ireland’s Allergan and move its corporate headquarters from New York to Ireland. That way it will pay less tax. Ireland’s tax rate is less than half that of United States. Ian Read,...
by Frank Clemente | Nov 30, 2015 | Blog, Tax Reform
Pfizer doesn't play pfair. The recent announcement that it would renounce its American identity and become an Irish company -- thereby dodging billions of dollars in taxes -- is just the latest in a string of shady deals and sleazy behaviors by the pharmaceutical...
by Dave Johnson | Nov 23, 2015 | Blog, Tax Reform
The pharmaceutical corporation Pfizer will acquire pharmaceutical corporation Allergan in a deal valued at $160 billion. My colleague Richard Eskow called this combination of Pfizer (the maker of Viagra) and Allergan (the maker of Botox) "a merger of false desire and...
by Dave Johnson | Nov 19, 2015 | Blog, Tax Reform
[fve]https://youtu.be/qKmaa01mZZ4?t=4m28s[/fve] "It’s not that taxes are far too high for giant corporations, as the lobbyists claim. No, the problem is that the revenue generated from corporate taxes is far too low." - Senator Elizabeth Warren Senator Elizabeth...
