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  • robbsbeach robbsbeach Apr 14, 2014 2:18 PM Flag

    Walgreens flips the bird to USA

    Over the weekend Walgreens held a meeting out of the USA to discuss moving this Corporation to Switzerland avoiding paying taxes in the USA.
    Walgreens is one of the largest suppliers of drugs to the retired Medicare US citizens.
    This revenue transfer of US government taxes is in the billions that would be going to Switzerland.
    And reduce funding for all programs including Defense



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    • Widespread medicaid is bad for business. Why pay taxes to support african HC?

    • Yes the companies that practice this strategy are Giving the Same People that made their companies successfull the Bird. They are actually givuing America the Double Bird due to the simple fact (RiG as an Example ) don`t actually move anything to another country. Yhey move their address only. In Switzerland, if you were to go visit RIGs Headquarters you`d find a couple people answering the phone.

    • As usual, you put your own slant on the story. As reported, Goldman Sachs and a few hedge funds who hold over 5% of the outstanding shares, requested a meeting with Walgreens, in Paris, because they were frustrated by Walgreens negative reaction to their suggestion that WAG move their headquarters to Europe. Walgreens did meet with them, but as reported they made no commitment whatsoever and expressed concern over political fallout from any such move. I don't think we will hear much about this again until they complete the purchase of Boots in 2015. Eventually, Walgreens may be forced to consider such a move if there is enough shareholder pressure. Many company's are headquartering overseas because of excessive taxation here. Remember, the revolutionary war was over taxation. It's time for our overspending government to reduce corporate tax rates or the exodus of large corporations will accelerate. Walgreens has as much corporate conscience as any company and I suspect they would like to stay headquartered in Illinois, but they have a conflicting duty to shareholders that cannot be ignored. The corporate tax rate for Boots is 20%. Walgreens is paying 37.5%. The ball is in the court of the federal government. Corporate tax rates need to come down to perhaps 25% to compete globally.