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  • cosmelogicalcorrespondent cosmelogicalcorrespondent Aug 4, 2014 8:55 AM Flag

    Ralph Nader denounces Walgreen's tax shirking move

    "U.S.-chartered giant companies like Pfizer, Medtronic and, perhaps most foolishly, Walgreens— given its 8,000 protestable stores—are planning to move their headquarters to countries that lure them with lower tax rates, such as Ireland and Switzerland, abandon their U.S. “citizenship,” and re-incorporate in those jurisdictions. This is all for another tax escape to add to their existing ones, including large tax credits to Pfizer and Medtronic for research and development that corporatist lobbies have written into the U.S. tax code"

    Nader says the public is against such unpatriotic and dishonest tax shirking... Nader is right that public sentiment will prevail and that the president and the dems are doing the right thing:

    “I don’t care if it’s legal, it’s wrong,” {Obama} you have indignantly exclaimed in recent speeches. You are supporting legislative efforts by Democrats in Congress (H.R.4679 and S.2360, sponsored by Representative Sander Levin (D-MI) and Senator Carl Levin (D-MI)) to prohibit such drains on corporate taxes intended for the U.S. Treasury and make the ban retroactive to May 2014.

    Third, and perhaps most impressively, you are questioning the “economic patriotism” of many giant U.S. corporations who have received support (financial and otherwise) from U.S. workers, taxpayers and the public laws and benefitted from the infrastructure of our country. The mere implication that these companies are unpatriotically abandoning their native country has outraged the U.S. Chamber of Commerce (to which you paid a courtesy visit in 2011) along with the predictable Wall Street Journal editorial page".

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    • Do you realize just about every US ship is registered under a flag of convenience, not the Stars and Strips? It's been that way since 1922. Panama they don't have to pay taxes on ships. Now you know!

    • Ralph Nader's opinion is of no particular interest to me. He has been right about some things over the years and he has been wrong about others. I give him credit for his criticism of the auto industry in the 1960's. I don't think he had all the facts straight then either, but his efforts did lead to safer automobiles and I applaud that. He has always been a "darling" of the press and has been widely quoted over the years. There are some who think he is always right. Mr. Nader is 80 years old today and still willing to express an opinion about anything controversial. It's his right. He has always taken issue with big business. It's not surprising that he would speak out on the issue of inversion but his is just one of many opinions, pro and con, and deserves no more respect than yours and mine.

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