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Pfizer moving to Ireland....

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rmattox

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claims it will save millions in US corporate taxes. Great for Pfizer and its stockholders, but what about those losing jobs?
How does this benefit the USA? I'm pi$$ed that this stuff continues. Why not stick a huge tariff on goods produced by these companies when they ship them back to the US? Why not revoke their patents?
Pfizer benefits from being in the US, from having US educated scientists, from the US economy....US companies are not self-made, they benefit from being here. They should enjoy those benefits as long as they stay here.......

Rambling....like I said, I'm pi$$ed.
 
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shockdaddy19

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Aug 30, 2012
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Medtronic moved their "executive" headquarters to Ireland for the exact same reason after they acquired Covidien. Their world headquarters are still in Minneapolis but it was done 100% for tax savings.
 
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rmattox

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Gosh...what was I thinking. With all those tax savings, I bet my monthly Cialis prescription refill (for prostate enlargement :) ) won't be nearly as expensive.....
 
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wildcatsboston1984_rivals

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ram1955 said:
claims it will save millions in US corporate taxes. Great for Pfizer and its stockholders, but what about those losing jobs?
How does this benefit the USA? I'm pi$$ed that this stuff continues. Why not stick a huge tariff on goods produced by these companies when they ship them back to the US? Why not revoke their patents?
Pfizer benefits from being in the US, from having US educated scientists, from the US economy....US companies are not self-made, they benefit from being here. They should enjoy those benefits as long as they stay here.......

Rambling....like I said, I'm pi$$ed.
Click to expand...
Yes, because a country like the USA that has to rely heavily on imports for many things should make these things more expensive for people who lose jobs to offshoring. You know they aren't going to just absorb the cost of the tariffs, just going to pass on the cost to the consumers, right?
 
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rmattox

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wildcatsboston1984 said:
Yes, because a country like the USA that has to rely heavily on imports for many things should make these things more expensive for people who lose jobs to offshoring. You know they aren't going to just absorb the cost of the tariffs, just going to pass on the cost to the consumers, right?
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ehh...just revoke their patents. Billy-Bob's pharmeceuticals will develop a replacement that will cost much less than the $225 for 30 pills that pharmacies charge.
 
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UKserialkiller

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ram1955 said:
ehh...just revoke their patents. Billy-Bob's pharmeceuticals will develop a replacement that will cost much less than the $225 for 30 pills that pharmacies charge.
Click to expand...

[laughing]

Yep. Mom and Pop drug companies are wide spread through out the U.S.
 
warrior-cat

warrior-cat

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Oct 22, 2004
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krazykats said:
Actually this one is on Bill Clinton and NAFTA
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Yeah but, Obama could have stopped it if you believe the left's line of thinking. Well, I mean, the way they thought when Bush was president. He is still the reason why Obama has so many problems now. Well, I mean, if you listen to them after something has been proven to be a problem that is. Everything is better now unless it isn't and if it isn't Obama is not the reason, Bush is. Oh what the hey, this is confusing, I am going back to bed.
 
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Double Tay

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Aug 6, 2003
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shockdaddy19 said:
Medtronic moved their "executive" headquarters to Ireland for the exact same reason after they acquired Covidien. Their world headquarters are still in Minneapolis but it was done 100% for tax savings.
Click to expand...

Was just going to post the exact same thing. It's basically a shell office in Ireland that allows Medtronic to save millions on taxes, which actually creates jobs. I'm not sure why our government can't understand this concept. Pretty simple stuff.

I never understood why there was not more of an outrage when Obama levied a 3% medical device tax on all medical devices implanted. Does he really think companies like meftronic are just suddenly going to make 3% less profit? Of course not – all it does is drive prices up and then people complain about the high cost of healthcare. I never like to see companies shift jobs offshore unnecessarily, but I really think these moves simply save money for American companies. It is just not reasonable to expect large corporations to provide more revenue just so more people can have insurance.

The government, especially this one, will never be smarter than successful corporations.
 
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Hank Camacho

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May 7, 2002
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Willy4UK said:
[laughing]

Yep. Mom and Pop drug companies are wide spread through out the U.S.
Click to expand...

And thank God for it. This is an area where we totally need a bunch of local innovation and trial and error.

Get on it, Local Chamber of Commerce!
 
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Raptureme

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ram1955 said:
claims it will save millions in US corporate taxes. Great for Pfizer and its stockholders, but what about those losing jobs?
How does this benefit the USA? I'm pi$$ed that this stuff continues. Why not stick a huge tariff on goods produced by these companies when they ship them back to the US? Why not revoke their patents?
Pfizer benefits from being in the US, from having US educated scientists, from the US economy....US companies are not self-made, they benefit from being here. They should enjoy those benefits as long as they stay here.......

Rambling....like I said, I'm pi$$ed.
Click to expand...

All of your suggested remedies are punitive......Why not just eliminate or cut corporate taxes and problem solved

You catch more flies with honey than vinegar
 
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Kooky Kats

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Didn't Nell run around Appalachia suckin roots and berries, with her high falutin' chickopay ahcopay, staying all healthy and **** off the earth? Let's do that. It gave Liam a chub when he knew he didn't even have a shot.

F Pfizer.
 
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Kooky Kats

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In other news, Pfizer (IRE) develops pill for treating alcoholism. The waste runoff from new plant drains into well water. Ireland deemed officially boring and sells its own country to Finland. Story at 11.
 
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Bill@ModernThirst

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Tariffs won't matter. They'll still produce everything for our markets in the US.

I would think some would be happy. A couple of those 1-percenters may move to Ireland.

As has been mentioned, this is the result of a tax code that is punitive, not conducive. Every election we hear about how evil corporations are. "Tax them more! Just look at those profits! They should pay us more!"

Then when they react to that, we act aghast that they would consider moving elsewhere.

Ireland has actively and positively staged themselves to be amongst the more welcoming and attractive locales for corporations to exist. Their corporate tax rates are extremely low, and as a result, they're going to reap billions in tax revenues from Pfizer and other companies who would otherwise pay higher rates in the US and elsewhere.

There is a huge difference between this and the offshoring of operations. This is not a case of pursuing cheap labor, it's a case of maximizing profitability by changing postal codes. You want to attract corporations? You want to keep the ones we have? Create a tax structure that incentivizes them to remain in the US or relocate here. Companies can go to Ireland, be in an advanced, western, English-speaking nation, find highly educated workers locally and from the nearby UK, and save millions. Why WOULDN'T they do that? Borders don't matter any more for the economy.
 
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JonathanW_rivals

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This is yet one more example of why the FAIR TAX is the best way forward for this country. It would remove the burdensome Corporate taxes, and thus we would see corporations moving jobs to the US (not out of it).
 
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crazyqx83_rivals88013

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ram1955 said:
claims it will save millions in US corporate taxes. Great for Pfizer and its stockholders, but what about those losing jobs?
How does this benefit the USA? I'm pi$$ed that this stuff continues. Why not stick a huge tariff on goods produced by these companies when they ship them back to the US? Why not revoke their patents?
Pfizer benefits from being in the US, from having US educated scientists, from the US economy....US companies are not self-made, they benefit from being here. They should enjoy those benefits as long as they stay here.......

Rambling....like I said, I'm pi$$ed.
Click to expand...
I've never understood this either. We need a tax law that says if you are going to relocate offshore for the sole purpose of avoiding corporate taxation then you are going to incur import fees 50% higher than said taxation for a period of 50 years.
 
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Kaizer Sosay

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The corporate tax codes in this country will eventually change. Might take all of the major US corporations pulling a similar move...but eventually our super-duper-uber intelligent gubment will catch on at some point.
 
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KopiKat

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Just wait for the day when liberals get the chance to implement their Dream Tax on American industry: the Production Value Added Tax. That process that will apply a tax against each stage of production where it can be determined that the in-process product has increased in value. Agriculture may be expected to be excluded of course. Probably receive an additional subsidy when it happens.

Example of when/if production value added tax implemented at Toyota plant in Georgetown: motor mounted on chasis (stage of production where in-process product has increased in value - apply tax). etc., etc., etc.
 
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We-Todd-Did

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jamo0001 said:
You forgot "benefit from US patients and taxpayers paying arguably the highest drug prices on the planet".
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I'm not sure but I think Ireland has a single payer system like GB. If that's the case, prices are negotiated and they are locating in a country where they barely make a profit. We are the world's cash cow.
 
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anon_q409idbs5m40a

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I talked to a person fairly high up in a major company that relocated to Mexico. He explained that a lot of companies are leaving the US as the cost of doing business is way too high. Environmental Regulations, numerous EEO complaints and high taxes were to blame for his company moving out of the USA.
 
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Double Tay

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crazyqx83 said:
I've never understood this either. We need a tax law that says if you are going to relocate offshore for the sole purpose of avoiding corporate taxation then you are going to incur import fees 50% higher than said taxation for a period of 50 years.
Click to expand...

And what do you think the end result of your nonsense tartiff will be? Will cost of goods go up or down? Will the demand for those goods increase or decrease? If you're so hell-bent on wasting money just start sending me checks.
 
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KopiKat

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Double Tay said:
And what do you think the end result of your nonsense tartiff will be? Will cost of goods go up or down? Will the demand for those goods increase or decrease? If you're so hell-bent on wasting money just start sending me checks.
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Well . . . it's called competition. Maybe you've heard of it. if an imported good overprices itself then a new domestic producer may emerge. Imagine that. Although some people would have you believe that it is impossible for such a thing to happen, the fact of the matter is that small cap pharma operations are every-stinking where. Literally. Every stinking where. I made in decent investment in a small cap pharma company in Tel Aviv, Israel that was working on a product for bi-polar type stuff - Alcobra, Inc. or something like that. Rode if from the single digits to low twenties, played the volatility for a while. Normally I wouldn't have gone for that sort of thing but at the time I just couldn't resist the ticker symbol ADHD. Most hilarious stock I ever found.
 
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Ukbrassowtipin

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Heres a mystifying prophecy...lower taxes, keep companies here...and wait for it. Foreign business also is more apt to move here creating even more jobs.

As far as pharmaceuticals...they are over priced, but we are also overly medicated. Americans aren't proactive in their health whatso ever. They don't take care of themselves and they believe the doctor is a wizard of health who should automatically fix them after they've been eating fast food every day for a lifetime.
 
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fuzz77

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Ireland has lower corporate taxes, higher individual taxes. If you're advocating lower corporate taxes then you are suggesting higher individual taxes. Tax policy has the goal to raise $X in revenue. If someone is paying less then others will pay more. GOPers seem intent in protecting the 1% so this is what you get. It is, has been and will always be that way regardless of who is in the White House.
 
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DSmith21

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The U.S. has the highest corporate tax rate among first world nations. Adjust the tax to a competitive world rate and you will solve the problem. There are a number of workable solutions but Barry would rather demonize American businesses for political gain.
 
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