Walgreens is willing to prostrate itself before Queen Elizabeth because the British corporate tax rate is lower. Anything for money, right AbbVie? These firms will still park their assets and staff and sales in America. They just won’t pay taxes on foreign income to the country that nurtured them, protected them from patent violators and unfair competitors, and provided them with educated workers, federally-sponsored research and development, and myriad other public services. Now, they can freeload instead. As a result, their U.S. competitors, as well as hardworking Americans, will pay more to cover the shirkers’ share.
Within the next several weeks Illinois-based Walgreens drug store chain is set to decide if it will become what President Obama referred to last week as a "corporate deserter" by - in essence - tearing up its U.S. Citizenship in order to cut its corporate taxes.
Walgreens recently bought a 45 percent stake in the Swiss drug chain, Alliance-Boots. It is now considering whether to complete a merger with the Swiss firm, so it can move its official corporate headquarters to lower-tax Switzerland, while maintaining most of its operations in the United States.
Forty-seven American corporations have used this this tax trick - known as an "inversion" -- over the last decade and the maneuver is increasingly favored by corporations that apparently have no loyalty to the United States - and instead have pledged allegiance entirely to their own bottom lines.
Gosh, has it already been three weeks since Congress took a vacation?
Those poor stiffs must be pooped from trying to catch up on all the heavy lifting that piled up while they were away from their lawmaking duties. And -- gosh, again -- in just a few days, Congress will go back on vacation, this time for a five-week summer recess. So much to do; so little time.
That's why GOP Speaker John Boehner is now cracking the whip. He's spurring his colleagues to pick up the pace and stay focused on his No. 1 national priority -- namely, suing the president of the United States. It seems that Obama has had the audacity to try to do something about some of the bubbling crises -- immigration, living wage, student loans, etc. -- with which Congress (or more specifically the House, or even more specifically Boehner and his Republican stalwarts) has been ignoring, stalling or playing politics. So, of course, the president must be sued to prevent him from ... well, from taking actions to help people.
Mike Strausbaugh, a Steelworker from Hanover, Pa., has a message for U.S. Sen. Pat Toomey, R-Pa.: It's time to bring outsourced jobs home.
But Toomey and his fellow Republicans may not get it. Senate Democrats do.
Strausbaugh and other Steelworkers and Autoworkers brought their message to Congress on July 22, with a press conference promoting the Democratic-backed “Bring The Jobs Home Act.” Half a dozen Senate Democrats – several seeking re-election – joined in.
The U.S. Chamber of Commerce (“Chamber”) has declared a war against whistleblowers! It has released a report, “Fixing the False Claims Act: the Case For Compliance-Focused Reforms,” setting forth proposals to strip millions of Americans from coverage under the Act, limit damages, increase the burden of proof on demonstrating fraud and establishing barriers to block employees from contacting the Justice Department. Taken together, the Chamber’s “reforms” would completely undermine the False Claims Act (FCA). The U.S. Chamber of Commerce is the last organization to want corporate accountability.