Walgreens renouncing U.S. corporate citizenship

[Genx87]

Continue to pay their own way. The bigger question is what will Democrats do?

Clearly more demonizing or higher taxes for those evil corporations! That should keep them from moving offshore!

 

[Matt1970]

Are you stupid?!
It all gets passed on to the consumer. That's how business works. But at least making them pay on their gross here the money would stay in the U.S. instead of going to Ireland, the Cayman Islands, or some other hole that only exists to assist tax evasion.

Are you? How is taxing a business's gross going to keep money out of the Cayman Islands? You realize that taxing a business's gross is the equivalent of a sales tax on the countries entire GDP. What you may think is a modest 10% tax will end up being a $1.6 Trillion tax to try and fix a problem that is only what? $50 Billion?

 

[IronWing]

Maybe a tariff on international funds transfers is in order.








Yeah, I know it's a terrible idea but it would be fun to watch corporate scumbags and banksters poop peach pits were it seriously proposed.

 

[Matt1970]

Maybe a tariff on international funds transfers is in order.








Yeah, I know it's a terrible idea but it would be fun to watch corporate scumbags and banksters poop peach pits were it seriously proposed.

That's better than taxing the gross sales of every business.

 

[nehalem256]

Continue to pay their own way. The bigger question is what will Democrats do?

The better question is what will Democrats do.

Applaud Walgreen's usage of tax loopholes to reduce its tax burden. Just like they did when the Clinton's did the same thing...

:hmm:

 

[Anarchist420]

the u.s.g. is stupid as shit for having a 35% marginal tax rate for corporations. watch that retard hillary clinton raise the top marginal personal income tax rate to 80% and then get less revenue because rich people move out. Peter Schiff is already moving to puerto rico (no income taxes for the first 20 years of living there) and i am happy for him. but most people arent going to be so lucky because hillary clinton will use every square inch of these states united as her personal toilet.

 

[dmcowen674]

We're all in one big boat in this country. The problem for us all is that conservatives are busy drilling as many holes in the bottom of it as they can in an attempt to sink it while claiming to be saving it. Then, while the country sinks and people start drowning, conservatives get to hop in their life boats and save themselves. The best part for them is that they get to sit back and watch the people they despise cry for help and then drown.

This sounds like the perfect idea for a movie! Maybe make it something symbolic, like an unsinkable ship full of the haves and have nots that the captains of industry are piloting recklessly in an area known for large icebergs.

This country has too many selfish fucks who don't give a shit about anyone but themselves. They believe that a nation full of selfish fucks would be paradise.

Well said

 

[Jeff7]

So they should need to file for a work visa now, right? :hmm:

Instead of boycotting you should advocate for rationalization of the business tax code. Because like it or not the U.S. is in competition with other nations on all fronts including taxation, and if people continue to have an attitude like the OP of "I hope all the rich people leave the country" then don't be surprised if that's what happens.

"People respond to incentives."
The fun problem is, we don't always seem to know exactly what we're incentivizing. Like the thing with compensating executives with stock. That would surely motivate them to increase the long-term value, stability, and profitability of the company, and thereby the stock, right?
No, it incentivized them to increase the value of that stock, and only that. So you've got short-term thinking at work, and shady and corrupt internal deals that ensure that these people get paid well no matter what they do. You also end up with some very interesting accounting practices and business decisions which are entirely meant to serve the purpose of influencing the stock's value. If the company burns in the meantime, oh well.


Oops.



So, yeah, the laws have incentivized companies here to push their money and manufacturing out of the US, along with the base of the economy. Not to worry though, the people who "matter" won't be affected, so it's not really a problem. Only the irrelevant serfs will feel the pain.



.

 

[Dannar26]

We're all in one big boat in this country. The problem for us all is that conservatives are busy drilling as many holes in the bottom of it as they can in an attempt to sink it while claiming to be saving it. Then, while the country sinks and people start drowning, conservatives get to hop in their life boats and save themselves. The best part for them is that they get to sit back and watch the people they despise cry for help and then drown.

Because Republicans caused the high taxes that Walgreens is trying to evade.


Yeah.

 

[DrDoug]

Because Republicans caused the high taxes that Walgreens is trying to evade.


Yeah.

Is that what I said? You have the comprehension skills of a rock. How about this question: Who created the loopholes that allow people and corporations to offshore and yet mine this country for their gold?

Oh, and I said "conservatives", which covers all conservatives. Republicans are not the only conservatives out there, that's for damned sure. The Democratic party has a shitload of them who far too often enable Republicans to drill holes in the boat. For example, Bill Clinton is one prominent conservative Democrat (fiscally) that comes to mind. We have him to thank for more than a little bit of damage to our economy, damage that came to fruition under Bush II.

Just like it takes two people to have a fight, it's taken two political parties to fuck this country up to no end.

 

[Hayabusa Rider]

I love these threads- they're marvelously ignorant. "Reaping revenue" for example. Well at least making a profit wasn't used. Decreasing reimbursements and the spiraling cost of increasingly nonsensical regulatory bs means you can take in lots of money and lose it at the same time.

If it costs $1.05 to make a dollar then the more business you do the more you bleed. This is going to get real interesting in a hurry as this gets worse.

 

[Subyman]

I hold no ill will toward Walgreens. A corporation has no allegiance to a particular country, they are there solely to make money. If America isn't the best option anymore then they will consider alternatives.

 

[tracerbullet]

Serious question - why is it that these "other countries" can offer lower tax rates? Is it 1) They're generally worse off and doing whatever they can, 2) Make up for it by taxing the hell out of the people directly, 3) Somehow have everything right and just don't need the revenue?

If it's # 3 let's copy them immediately. If it's #1 or 2 then do we really think it's OK these companies move and get the best of both worlds?

 

[ivwshane]

Clearly more demonizing or higher taxes for those evil corporations! That should keep them from moving offshore!

So between protecting people or corporations you choose the corporations? Or are you delusional enough to think that driving out big corporations means those jobs will be lost forever and the vacuum left will never be filled?

Btw, I didn't realize asking businesses to pay their fair share for the labor and infrastructure they enjoy was a way of calling them evil or a form of demonization. Or was that hyperbole on your part?

 

[ivwshane]

I hold no ill will toward Walgreens. A corporation has no allegiance to a particular country, they are there solely to make money. If America isn't the best option anymore then they will consider alternatives.

Exactly and it's why our government should pas laws that protect and benefits it's citizens, you know the "people" who don't just claim to be an American when it's financially convenient.

 

[TheSlamma]

Let's get to the real issue here.. Who TF still shops at that old lady supply?

That place sucks balls, every local grocery store has a better selection and prices of anything else carried at this has been rag. Time for it to go the same way Woolworths did.

 

[PokerGuy]

At this rate there won't be anyone left to pay taxes.

Then what will Republicans do?

It's not an issue for republicans, it's more an issue for democrats who live on confiscating money from those who produce and handing it to those who don't and to their cronies.

They believe that a nation full of selfish f*cks would be paradise.

Actually, to some extent it's true. This country was built on the concept that everyone making their own decisions and doing what's best for them personally results in overall gains for everyone and the country.

Further, in your delusional rant against those evil selfish republicans you might have forgotten to mention that republicans actually give more of their own money to others and charity than libs. Libs are always busy pushing confiscation of other people's money so they can hand it out, but when it comes to giving their own money, forget it. The old "do as I say, not as I do".

I'm in favor of a very simple rule on this issue. All companies conducting business in the U.S. need a federal tax identification number. Any revenue from goods sold in the U.S. are services provided to someone in the U.S. are taxed as income. Expenses are deductible only if they were incurred within the U.S.

Interesting concept, but if all countries did the same, it would be a major net negative for the US. Especially since many US companies sell services or are based on intellectual property, where there is very little physical cost associated with product manufacture.

 

[PokerGuy]

I am constantly amazed at how people gripe and complain about companies doing exactly what you'd expect them to do: act rationally and maximize profits. Companies act in whatever way will generate the most profits. If you create incentives that make it more profitable to move offshore etc, than that's exactly what they'll do.

This is completely rational behavior, and there are essentially two ways to "fix" this. One is for consumers to hold companies accountable for policies that are detrimental to the country. Very simple: don't like what the company is doing? Don't buy from them. That would provide a very strong disincentive for companies to do it. The other way to "fix" it is to not create incentives for companies to do things that are negative, and instead provide incentives for them to do the opposite.

Blaming the companies for engaging in completely rational behavior is stupid and pointless.

I also notice how many of the the same people whining about walgreens using "loopholes" are perfectly fine with the clintons using the loopholes to escape taxation. So which is it: is using "loopholes" evil or not?

 

[Exterous]

Just for some reference it looks like Walgreens is going to finish the acquisition of Alliance Boots which will mean a full 33% of their business will be outside the US so this isn't quite the same as a Double Irish or some of the other tax evasion schemes

Also the Swiss will charge them 20% instead of 31-35%. I've heard there might be some consideration of the UK as well with its 21% tax rate.

With profit margins in the <4% range reducing taxes is an easy way to improve profitability

 

[TheSlamma]

So which is it: is using "loopholes" evil or not?

Clintons and Walgreens can both lose their citizenship to this country. That takes Hillary out of the presidential run, Walgreens can pay tariffs till they fold up and go away. We flat out do not need them here, someone else can come along that is more innovative and take their place.

Americans need to stop thinking we "NEED" any of these corporations or politicians, need implies there isn't someone right behind them that can take their place and do it better. In fact the people waiting behind them can honestly ONLY do it better. AIG, the big banks, GM, Crapsler.. bye we won't miss any of you, EASILY replaced and outdone.

 

[unokitty]

I am constantly amazed at how people gripe and complain about companies doing exactly what you'd expect them to do: act rationally...

This is completely rational behavior...

Ding, ding, ding! We have a winner.

For the most part, companies are rational actors that do business based upon the rules. (Laws being the rules.)

Politicians make the laws. Companies just obey them.

People complaining about companies behaving rationally just demonstrate how easy it is for them to be manipulated by their politicians.

Uno

 

[PokerGuy]

Clintons and Walgreens can both lose their citizenship to this country. That takes Hillary out of the presidential run, Walgreens can pay tariffs till they fold up and go away. We flat out do not need them here, someone else can come along that is more innovative and take their place.

Have they broken any laws? No. Stop blaming companies or people for acting rationally and doing exactly what logic would dictate they do. If you don't like it, then advocate for changing laws and stop buying products and services of the companies that do things you disagree with, but don't whine about companies acting rationally.

 

[hal2kilo]

Let's get to the real issue here.. Who TF still shops at that old lady supply?

That place sucks balls, every local grocery store has a better selection and prices of anything else carried at this has been rag. Time for it to go the same way Woolworths did.

I was wondering if someone was going to say something like "who the hell shops at the store where granma buys her liver pills"?

Don't let the door hit you on your way out.

 

[Jeff7]

Serious question - why is it that these "other countries" can offer lower tax rates? Is it 1) They're generally worse off and doing whatever they can, 2) Make up for it by taxing the hell out of the people directly, 3) Somehow have everything right and just don't need the revenue?

If it's # 3 let's copy them immediately. If it's #1 or 2 then do we really think it's OK these companies move and get the best of both worlds?

It's just one bad behavior feeding another.

 

[DrDoug]

...

... This country was built on the concept that everyone making their own decisions and doing what's best for them personally results in overall gains for everyone and the country.

Yeah, the early industrial era in America was a paradise, wasn't it? How about those roaring 20's which led to the unforgettable depression of the 30's? Miss those grand times where everyone was doing what was best for themselves?

... republicans actually give more of their own money to others and charity than libs.

Now that's hilarious! Next you'll be telling me that they don't do this for the tax deductions but instead out of the goodness of their hearts...lol!