Per Robert Reich:
"Today, the giant pharmaceutical company Pfizer got formal board approval for its acquisition of Irish pharmaceutical manufacturer Allergan. The purpose of the deal isn’t simply to create the world's biggest drug maker. It’s to enable Pfizer to switch its corporate nationality from American to Irish, thereby slashing its corporate tax rate.
Okay, if Pfizer doesn't want to pay U.S. taxes, then it shouldn't get any benefits of U.S. corporate citizenship. The U.S. government should no longer protect Pfizer’s intellectual property, or give Pfizer access to basic research coming out of the U.S. National Institutes of Health, or represent Pfizer’s interests in international negotiations over trade. In addition, the federal government should use its bargaining power under Medicare, Medicaid, and the VA to negotiate the lowest possible drug prices with Pfizer (something the U.S. government is barred from doing with U.S. pharmaceutical companies). And Pfizer should no longer have the right to contribute to American elections through its Political Action Committee, or to lobby U.S. politicians."
What do you think?
