Your Signature Needed To Prevent Major Corporate Tax Dodge:

[TooTall]

But they will be operating here in the U.S. Nothing will change but their corporate address, so please don't be so easily deceived by the corporate puppet propagandists. Open your eyes for Christ's sake! Pfizer's earned $35billiion in profit last year -- and they are claiming hardship?

Which millionaire propagandist do you get your information from, Limbaugh? Hannity? O'Reilly?

Wake up!

I'm suggesting we do anything necessary to put an end to the predatory corporate interests which are decimating the middle class.

Anything!

If they earned $35 billion in profits last year they will have to pay taxes on it by April 15th.

Where are ya'll getting your numbers from? Nothing I'm finding reflects this number.

~ http://www.pfizer.com/system/files/presentation/2014_Pfizer_Financial_Report.pdf (page 17) Total Revenues 2014 $49,605 Million You're saying they /profited/ more than the financial statements even reflect them earning, by like billions of dollars... (oops wrong year brb heh)

The problem with doing that on pharma is that it would drive the costs up for consumers and our med costs are already through the roof - at present with ACA and stuff, you'd effectively be shooting off your own nose to spite your face...

Then they should move back.

Uhm no see the government would be shooting off its own nose, not Pfizer, they just raise the prices. American's are the ones who pay for the increased cost...

Then why are they moving?

Because they can and so they don't get taxed to death.

Why don't they just increase their price like you said?

May I jump in here and say if they just increase their prices, the consumer takes it in the pocketbook more than they already are.

 

[Brain357]

If they earned $35 billion in profits last year they will have to pay taxes on it by April 15th.

Where are ya'll getting your numbers from? Nothing I'm finding reflects this number.

~ http://www.pfizer.com/system/files/presentation/2014_Pfizer_Financial_Report.pdf (page 17) Total Revenues 2014 $49,605 Million You're saying they /profited/ more than the financial statements even reflect them earning, by like billions of dollars... (oops wrong year brb heh)

Then they should move back.

Uhm no see the government would be shooting off its own nose, not Pfizer, they just raise the prices. American's are the ones who pay for the increased cost...

Then why are they moving?

Because they can and so they don't get taxed to death.

Why don't they just increase their price like you said?

May I jump in here and say if they just increase their prices, the consumer takes it in the pocketbook more than they already are.

I'm aware. But if they will move away for tax purposes why won't they return for tariff purposes?

 

[TooTall]

Where are ya'll getting your numbers from? Nothing I'm finding reflects this number.

~ http://www.pfizer.com/system/files/presentation/2014_Pfizer_Financial_Report.pdf (page 17) Total Revenues 2014 $49,605 Million You're saying they /profited/ more than the financial statements even reflect them earning, by like billions of dollars... (oops wrong year brb heh)


Uhm no see the government would be shooting off its own nose, not Pfizer, they just raise the prices. American's are the ones who pay for the increased cost...

Then why are they moving?

Because they can and so they don't get taxed to death.

Why don't they just increase their price like you said?

May I jump in here and say if they just increase their prices, the consumer takes it in the pocketbook more than they already are.

I'm aware. But if they will move away for tax purposes why won't they return for tariff purposes?

I didn't read the entire thread, but the free trade agreements signed by Democrats do not permit any tariffs.

 

[Brain357]

Then why are they moving?

Because they can and so they don't get taxed to death.

Why don't they just increase their price like you said?

May I jump in here and say if they just increase their prices, the consumer takes it in the pocketbook more than they already are.

I'm aware. But if they will move away for tax purposes why won't they return for tariff purposes?

I didn't read the entire thread, but the free trade agreements signed by Democrats do not permit any tariffs.

Yes we were discussing a tariff on these inversion companies. Trump has said he would do it.

 

[Anathema]

If this was written to ensure companies doing business here had to be headquartered here, I'd agree. In the case where they're leaving I'd rather see a bill banning their good from the US entirely, and voiding their patents insude tbe US.

 

[TooTall]

Because they can and so they don't get taxed to death.

Why don't they just increase their price like you said?

May I jump in here and say if they just increase their prices, the consumer takes it in the pocketbook more than they already are.

I'm aware. But if they will move away for tax purposes why won't they return for tariff purposes?

I didn't read the entire thread, but the free trade agreements signed by Democrats do not permit any tariffs.

Yes we were discussing a tariff on these inversion companies. Trump has said he would do it.

I'm not sure he could do that without getting a trade agreement through Congress authorizing tariffs, but it might bring some of them back to the US.

 

[TooTall]

If this was written to ensure companies doing business here had to be headquartered here, I'd agree. In the case where they're leaving I'd rather see a bill banning their good from the US entirely, and voiding their patents insude tbe US.

How many people would die without some of the drugs these companies make?

 

[Brain357]

Why don't they just increase their price like you said?

May I jump in here and say if they just increase their prices, the consumer takes it in the pocketbook more than they already are.

I'm aware. But if they will move away for tax purposes why won't they return for tariff purposes?

I didn't read the entire thread, but the free trade agreements signed by Democrats do not permit any tariffs.

Yes we were discussing a tariff on these inversion companies. Trump has said he would do it.

I'm not sure he could do that without getting a trade agreement through Congress authorizing tariffs, but it might bring some of them back to the US.

Both parties claim to want to end inversions....

 

[whitehall]

Obama has been president for almost 8 freaking years and you expect him to recommend closing a tax loophole now?

 

[TooTall]

Obama has been president for almost 8 freaking years and you expect him to recommend closing a tax loophole now?

I don't expect anything from that arrogant asshole except to continue placing the blame on everyone else for everything that went wrong during his almost 8 years.

 

[MikeK]

Sorry a nap attack took over.

Yes, they're moving because it is cheaper to operate out of Ireland than the USA. It's basically why taxing the rich/businesses "more" doesn't work and isn't sustainable. The more you crank up the taxes the less incentive they have to stay. The US must compete with the global market for not only corporate/business taxes, but also labor and production costs. There is no way around it.

What do you mean by "operate?" These corporations are not moving any physical thing out of the U.S. Their physical operations remain here. The only thing that changes is their corporate address. The reason so many here refuse to forbid the facilitating loophole is their willingness to accept it.

Suppose you, an ordinary (presumably) working class American, pay a citizen of Nigeria to certify that you live in his house and maintain a permanent residence in Nigeria, and you pay the Nigerian government a stipend (which the utterly corrupt Nigerian government assuredly will accept) to declare you a citizen, and you notify the IRS that as the citizen of another country you are no longer required to pay an income tax. What do you suppose the IRS would tell you?

The only problem you would have is what we might call, lack of loophole! And that is the point of my urging you to sign the petition that calls for removal of the corporate loophole.

As regards the presumptive fear of retaliatory price increases, the free market (competition) will take care of that -- as it does with all businesses. If the various pharmaceutical corporations choose to conspire to fix prices, that's a whole different ball game in which a lot of white-collar criminals wind up in Leavenworth.

So don't be discouraged by the right-wing water carriers. Sign the petition.

 

[MikeK]

Obama has been president for almost 8 freaking years and you expect him to recommend closing a tax loophole now?

The President cannot open or close such a loophole. Only the Congress can do that.

 

[TooTall]

The existing IRS Code permits corporations to move their headquarters address (address only) to a foreign country which enables them to continue business as usual here in the U.S. but to avoid paying taxes. It's that simple and a number of major corporations have already done that, the most recent being Walgreen Pharmaceuticals.

Now Pfizer Pharmaceuticals is preparing to do the same thing by moving their corporate address to Ireland. This will leave the ordinary taxpayer, you and me, to compensate for the loss of taxes on a $35billion profit margin.

This loophole must be closed! Please visit this website Pres. Obama, stop Pfizer and other corporations from dodging billions in taxes and add your name to a very important petition.

Thanks.

I could be wrong, but I don't think the President can write or change tax laws. If I am right, your petition should be sent to the Congress. A real President would have called members of Congress and explained the problem with the tax code and propose a change. But then, we don't have a real President.

 

[MikeK]

I could be wrong, but I don't think the President can write or change tax laws. If I am right, your petition should be sent to the Congress. A real President would have called members of Congress and explained the problem with the tax code and propose a change. But then, we don't have a real President.

You're not wrong. It is addressed to the President in the hope he will choose to accommodate the petitioners by presenting a Bill to the Congress for a vote. If he does not the next move is to directly petition the Congress, which probably will be required.

This will not be a simple project. It will require more than one petition. But we need to get the ball rolling, which is the purpose of the existing petition. So please sign it.

 

[TooTall]

I could be wrong, but I don't think the President can write or change tax laws. If I am right, your petition should be sent to the Congress. A real President would have called members of Congress and explained the problem with the tax code and propose a change. But then, we don't have a real President.

You're not wrong. It is addressed to the President in the hope he will choose to accommodate the petitioners by presenting a Bill to the Congress for a vote. If he does not the next move is to directly petition the Congress, which probably will be required.

This will not be a simple project. It will require more than one petition. But we need to get the ball rolling, which is the purpose of the existing petition. So please sign it.

It is not a bad idea, but you should know that Obama will spend the rest of his term in office blaming others for what went wrong and taking credit for what little went right. All he is working on is his legacy.

 

[Anathema]

How many people would die without some of the drugs these companies make?

The voided patents would be picked up by other companies. AMERICAN companies. Nobody would go without any drugs.

 

[MikeK]

It is not a bad idea, but you should know that Obama will spend the rest of his term in office blaming others for what went wrong and taking credit for what little went right. All he is working on is his legacy.

Perhaps. But that does not mean our objective is hopeless. What is being called for here might be the first of numerous petitions -- in other words the first step in a very worthwhile effort. If we keep hammering eventually our Representatives will realize we want satisfaction.

That is how it is done. So please sign the petition. And sign the next one, and the next one if need be. You have nothing to lose but much to gain in the way of reduction in your own tax rate.

We are on the doorstep of a political revolution. This is just one element in the process.

 

[MikeK]

I didn't read the entire thread, but the free trade agreements signed by Democrats do not permit any tariffs.

Offhand I don't know it that is true or not. If it is, what we have is the need for one more law to be changed or regulation to be imposed. But that will not happen without motivated action, which is what I'm asking for with this petition.

Failure to act is why we have a One Percent, the consequent wage stagnation and excessive tax rate on the working class.

 

[MikeK]

You could put it on any pharmaceutical companies.

Not only pharmaceutical companies. We need to penalize all these corporations who owe their very existence to this Nation but have shown their gratitude by technically relocating for the singular purpose of avoiding (evading) taxes. They continue to consume essential services but pay nothing for them.

What they are doing is manifestly disloyal and we need to start imposing aggressive regulations to restore balance to our economy and to reinvigorate the declining middle class.

 

[TooTall]

I didn't read the entire thread, but the free trade agreements signed by Democrats do not permit any tariffs.

Offhand I don't know it that is true or not. If it is, what we have is the need for one more law to be changed or regulation to be imposed. But that will not happen without motivated action, which is what I'm asking for with this petition.

Failure to act is why we have a One Percent, the consequent wage stagnation and excessive tax rate on the working class.

You lost me there. The Bush tax cut reduced the tax rates on the working class and the Democrats are dying to raise it back up. After all, that is where the real money is. The higher income rate is already 39% or more.