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46 replies
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= new reply since forum marked as read
Walgreen Pressured To Move Headquarters To Europe For Tax Purposes
http://www.democraticunderground.com/10024822222
Just like the Market store protests, this is a war between the shareholders, not a bad attitude on the part of Walgreens as a whole. It's not like they can tell the shareholders, IOW, their owners, to go take a flying leap.
Only advantage for consumers I can possibly imagine in some fantasy, is that the price of drugs would go down and the quality and safety of drugs might go up due to EU standards and subsidies. But it still stinks.
If the Do-Nothing House will finally represent the people instead of the Rand Cannibal Class, they might listen to PBO who has been trying to get the loopholes closed for years. He's talking it up more to the American people to let them apply pressure, if anyone is listening and willing to get involved.
President Obama: Weekly Address: Closing Corporate Tax Loopholes
...Even as corporate profits are as high as ever, a small but growing group of big corporations are fleeing the country to get out of paying taxes. They’re keeping most of their business inside the United States, but they’re basically renouncing their citizenship and declaring that they’re based somewhere else, just to avoid paying their fair share.
I want to be clear: this is only a few big corporations so far. The vast majority of American businesses pay their taxes right here in the United States. But when some companies cherrypick their taxes, it damages the country’s finances. It adds to the deficit. It makes it harder to invest in the things that will keep America strong, and it sticks you with the tab for what they stash offshore. Right now, a loophole in our tax laws makes this totally legal – and I think that’s totally wrong. You don’t get to pick which rules you play by, or which tax rate you pay, and neither should these companies.
The best way to level the playing field is through tax reform that lowers the corporate tax rate, closes wasteful loopholes, and simplifies the tax code for everybody. But stopping companies from renouncing their citizenship just to get out of paying their fair share of taxes is something that cannot wait. That’s why, in my budget earlier this year, I proposed closing this unpatriotic tax loophole for good. Democrats in Congress have advanced proposals that would do the same thing. A couple Republicans have indicated they want to address this too, and I hope more join us.
Rather than double-down on the top-down economics that let a fortunate few play by their own rules, let’s embrace an economic patriotism that says we rise or fall together, as one nation, and as one people. Let’s reward the hard work of ordinary Americans who play by the rules. Together, we can build up our middle class, hand down something better to our kids, and restore the American Dream for all who work for it and study for it and strive for it.
http://www.whitehouse.gov/the-press-office/2014/07/26/weekly-address-closing-corporate-tax-loopholes
to cal04:
http://www.democraticunderground.com/?com=view_post&forum=1014&pid=856260
Emboldening is mine.
http://www.democraticunderground.com/10024822222
Just like the Market store protests, this is a war between the shareholders, not a bad attitude on the part of Walgreens as a whole. It's not like they can tell the shareholders, IOW, their owners, to go take a flying leap.
Only advantage for consumers I can possibly imagine in some fantasy, is that the price of drugs would go down and the quality and safety of drugs might go up due to EU standards and subsidies. But it still stinks.
If the Do-Nothing House will finally represent the people instead of the Rand Cannibal Class, they might listen to PBO who has been trying to get the loopholes closed for years. He's talking it up more to the American people to let them apply pressure, if anyone is listening and willing to get involved.
President Obama: Weekly Address: Closing Corporate Tax Loopholes
...Even as corporate profits are as high as ever, a small but growing group of big corporations are fleeing the country to get out of paying taxes. They’re keeping most of their business inside the United States, but they’re basically renouncing their citizenship and declaring that they’re based somewhere else, just to avoid paying their fair share.
I want to be clear: this is only a few big corporations so far. The vast majority of American businesses pay their taxes right here in the United States. But when some companies cherrypick their taxes, it damages the country’s finances. It adds to the deficit. It makes it harder to invest in the things that will keep America strong, and it sticks you with the tab for what they stash offshore. Right now, a loophole in our tax laws makes this totally legal – and I think that’s totally wrong. You don’t get to pick which rules you play by, or which tax rate you pay, and neither should these companies.
The best way to level the playing field is through tax reform that lowers the corporate tax rate, closes wasteful loopholes, and simplifies the tax code for everybody. But stopping companies from renouncing their citizenship just to get out of paying their fair share of taxes is something that cannot wait. That’s why, in my budget earlier this year, I proposed closing this unpatriotic tax loophole for good. Democrats in Congress have advanced proposals that would do the same thing. A couple Republicans have indicated they want to address this too, and I hope more join us.
Rather than double-down on the top-down economics that let a fortunate few play by their own rules, let’s embrace an economic patriotism that says we rise or fall together, as one nation, and as one people. Let’s reward the hard work of ordinary Americans who play by the rules. Together, we can build up our middle class, hand down something better to our kids, and restore the American Dream for all who work for it and study for it and strive for it.
http://www.whitehouse.gov/the-press-office/2014/07/26/weekly-address-closing-corporate-tax-loopholes
to cal04:
http://www.democraticunderground.com/?com=view_post&forum=1014&pid=856260
Emboldening is mine.
