So, Walgreens today made the decision to keep their headquarters in the USA, costing them easily an additional $4B in taxes that could have been saved by legally moving the headquarters address to Switzerland through an inversion. The Obama administration called them unpatriotic to consider the move and would push for an executive order to fine them for attempting to leave (heavy handed political tactic) and use the office of the President to call for a mass boycott of his hometown company. The truth is that we have the highest corporate taxes in the world and a current political environment that is anti-corporate success. The same corporations that create jobs and who must curb hiring to feed the government spending beast. Though the savings would not have all gone to hiring, the extra tax burden to Walgreens equals 200,000 less jobs being made available in the US. Personally, I would prefer to have more employees who are spending money to grow the economy versus giving the government more taxes to waste. We live in interesting times.
Posted on: Wed, 06 Aug 2014 22:15:21 +0000
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