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Giving up its U.S. citizenship could save Pfizer $35 billion in taxes
Topic Started: Mar 19 2016, 03:11 PM (679 Views)
estonianman
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When Pfizer announced its plan last year to merge with Botox-maker Allergan and move its headquarters to Ireland the company said the deal would lower its tax rate to about 17 percent to 18 percent, saving it about $2 billion over three years.

But in a report published Thursday, Americans for Tax Fairness say the New York-based pharma giant will actually save much more by giving up its U.S. citizenship: $35 billion.

source

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MEEK AND MILD
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OffensivelyOpenMinded
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Evidence we need to lower taxes big time.
"The problem with having an open mind, of course, is that people will insist on coming along and putting things in it."
Terry Pratchett
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BuckFan

OffensivelyOpenMinded
Mar 19 2016, 03:18 PM
Evidence we need to lower taxes big time.
Or raise them on foreign corporations taking advantage of US infrastructure and customers to make money.
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estonianman
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BuckFan
Mar 19 2016, 05:10 PM
OffensivelyOpenMinded
Mar 19 2016, 03:18 PM
Evidence we need to lower taxes big time.
Or raise them on foreign corporations taking advantage of US infrastructure and customers to make money.

that's a terrible idea
MEEK AND MILD
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OffensivelyOpenMinded
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estonianman
Mar 19 2016, 05:15 PM
BuckFan
Mar 19 2016, 05:10 PM
OffensivelyOpenMinded
Mar 19 2016, 03:18 PM
Evidence we need to lower taxes big time.
Or raise them on foreign corporations taking advantage of US infrastructure and customers to make money.

that's a terrible idea
Agreed
"The problem with having an open mind, of course, is that people will insist on coming along and putting things in it."
Terry Pratchett
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clone
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Director @ Center for Advanced Memetic Warfare
As Trump took state after state on March 1st, Google searches for “How can I move to Canada?” went up 350% and eventually reached an 1000% increase.

Only liberals can choose not to go down the road to widespread, systematic violence.
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clone
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Director @ Center for Advanced Memetic Warfare
Citizenship-based taxation is applied by only two countries: the United States and Eritrea. It means that your income is taxable no matter where in the world you live, so long as you hold citizenship in that country. Eritrea, a war-torn country that broke away from Ethiopia several decades ago, applies a 2% tax on its citizens worldwide income (it’s rarely enforced). The United States does tax your entire income at normal rates, which means even “accidental Americans” need a sound offshore strategy to avoid unnecessary taxation.
Only liberals can choose not to go down the road to widespread, systematic violence.
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Robert Stout
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OffensivelyOpenMinded
Mar 19 2016, 03:18 PM
Evidence we need to lower taxes big time.
Sounds like we need government owned plants to manufacture all drugs sold in the USA.....Think of the savings in advertising alone !!!!........... :hooray:
Edited by Robert Stout, Apr 7 2016, 02:58 AM.
Jesus can raise the dead, but he can't fix stupid
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clone
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Director @ Center for Advanced Memetic Warfare
Robert Stout
Apr 7 2016, 02:57 AM
OffensivelyOpenMinded
Mar 19 2016, 03:18 PM
Evidence we need to lower taxes big time.
Sounds like we need government owned plants to manufacture all drugs sold in the USA.....Think of the savings in advertising alone !!!!........... :hooray:
Think of all the lack of innovation....going John Galt
Only liberals can choose not to go down the road to widespread, systematic violence.
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Drudge X
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Why are leftists for raising tax on US companies but against taxes for foreign goods?
Kate Steinle was separated from her family permanently but leftists didn't seem to mind.
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clone
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Director @ Center for Advanced Memetic Warfare
Drudge X
Apr 7 2016, 08:33 PM
Why are leftists for raising tax on US companies but against taxes for foreign goods?
Because they are leftists...hypocrisy is inbred in them

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Only liberals can choose not to go down the road to widespread, systematic violence.
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Robert Stout
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clone
Apr 7 2016, 07:57 PM
Robert Stout
Apr 7 2016, 02:57 AM
OffensivelyOpenMinded
Mar 19 2016, 03:18 PM
Evidence we need to lower taxes big time.
Sounds like we need government owned plants to manufacture all drugs sold in the USA.....Think of the savings in advertising alone !!!!........... :hooray:
Think of all the lack of innovation....going John Galt
We can continue to rely on drug innovation from the EU, who have developed most major new drugs in the last 20 years................... :booboo:
Jesus can raise the dead, but he can't fix stupid
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Drudge X
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clone
Apr 7 2016, 09:43 PM
Drudge X
Apr 7 2016, 08:33 PM
Why are leftists for raising tax on US companies but against taxes for foreign goods?
Because they are leftists...hypocrisy is inbred in them

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Ain't that the truth. Plus, you will never hear leftists mention about back up players for the NFL, NBA, and MLB. These guys earn six figures a season just by sitting on the bench most of the time. But when leftists see a married couple making six figures each, they demand to tax the hell out of these hard working Americans. It's a shame I tell ya.
Kate Steinle was separated from her family permanently but leftists didn't seem to mind.
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