Pfizer announced an inversion deal to move to Ireland. Inversion deals for those not familiar with the term are when a large US company acquires a small international company, but they structure the deal as the small international company buying them to move their headquarters off shore. For example Burger King did the same thing to move their headquarters to Canada.
The reason companies do this is to lower their international tax rates. Their US taxes do not go down. But the US has one of the worst overseas tax policies in the west. Think about that, US companies are moving to ... socialist ... countries to escape the US government. The rest of the west had similar tax policies, but they decided to stop driving their firms offshore and reform their tax policies to stop doing that. That is all the major western economic powers except us.
So what is the reaction of government? To realize that OMG we have a tax policies that harms our own economic base? Let's stop doing that? No, they decided to punish companies that try to leave and continue to punish the ones that want to stay. That is the Democratic party. And in their typical uselessness the Republicans responded to this by doing nothing. They are the irrelevant party as they stand for nothing.
So, God Bless, Pfizer, go on to greener pastures in socialist Ireland because your own government wants to kick you in the teeth if you stay and kick you in the ass when you head out the door. Hopefully at some point we'll learn. But so far, we sure the hell aren't.
As for Obama, he called Pfizer "Unpatriotic." LOL, from the America hater himself. But as Mark Twain said, "Patriotism is usually the refuge of the scoundrel. He is the man who talks the loudest." That is Obama, rather than reason he calls them unpatriotic. The desperate act of a scoundrel. He had nothing else
The reason companies do this is to lower their international tax rates. Their US taxes do not go down. But the US has one of the worst overseas tax policies in the west. Think about that, US companies are moving to ... socialist ... countries to escape the US government. The rest of the west had similar tax policies, but they decided to stop driving their firms offshore and reform their tax policies to stop doing that. That is all the major western economic powers except us.
So what is the reaction of government? To realize that OMG we have a tax policies that harms our own economic base? Let's stop doing that? No, they decided to punish companies that try to leave and continue to punish the ones that want to stay. That is the Democratic party. And in their typical uselessness the Republicans responded to this by doing nothing. They are the irrelevant party as they stand for nothing.
So, God Bless, Pfizer, go on to greener pastures in socialist Ireland because your own government wants to kick you in the teeth if you stay and kick you in the ass when you head out the door. Hopefully at some point we'll learn. But so far, we sure the hell aren't.
As for Obama, he called Pfizer "Unpatriotic." LOL, from the America hater himself. But as Mark Twain said, "Patriotism is usually the refuge of the scoundrel. He is the man who talks the loudest." That is Obama, rather than reason he calls them unpatriotic. The desperate act of a scoundrel. He had nothing else
