Originally Posted by jtdavis:
Alliance Boots moved from the UK to Switzerland in order to lower its tax bill. Walgreens will relocate from Illinois to Switzerland, undergo a process called "inversion", retain 80% of it's stock and legally become a Swiss corporation.
Walgreens earns about 72 billion dollars per year and gets about 24 billion dollars of this from medicare and medicaid, which is direct payments from the US government. They want to send this to Switzerland to dodge about 11 percentage points on tax.
While doing this, they will remain in the US and enjoy living here while they cheat the US out of taxes earned in the USA.
When they do this, medicare and medicaid should be off limits to them, and any tax breaks they have on those high dollar lots and stores should be cancelled. After all, they got them as Walgreens and now they are a foreign corporation.
______________________________________________________
By what authority could the government ban persons obtaining goods for medicare? Only Part A is direct payments from the government. Walgreens provides Part B and D goods and services. Parts B and D are paid solely by the user. I suppose the Government could ban medicaid at Walgreens as its a welfare program.
In 2013, Walgreens earned $72.228 billion with an after expenses (including taxes) net income of $2.456 billion (2.5 percent). They paid taxes of $1.45 billion on that profit or over 37 percent of their before tax profits to government. As a reminder, their taxes and expenses will rise because of Obamacare. Guess government won't be satisfied until its 100 percent of profits.
As even congress may not change contracts per the constitution, what authority will Obama end "any tax breaks they have on those high dollar lots and stores should be cancelled." Are you advocating an abrogation and end of the constitution? Those tax breaks were mainly to the benefit of local and state governments. Why should the federal government even be involved.
So, will you next be advocating suspension of elections and civil rights protected by the constitution. Its just a small step from your present position.