Walgreens considers moving HQ to Switzerland to avoid taxes in US

DIXON, Ill. — The Walgreens drugstore chain proudly touts itself as "the pharmacy America trusts."

But many here in this small river town where the founder of the company got his start complain that the drugstore chain is on the precipice of turning its back on the USA.

Walgreens, the USA's largest drugstore chain, with more than 8,500 stores, soon will decide whether to take advantage of a loophole in U.S. tax law that would allow it to save billions of dollars by moving its headquarters to Europe, where it is on the verge of acquiring controlling interest in Alliance Boots, a Swiss-based company that operates drugstores in Britain.

From the shareholders' perspective, making the move is a no-brainer: It could save the company roughly $4 billion over the next five years.



http://www.usatoday.com/story/money/business/2014/07/26/walgreens-inversion-tax-taxes/13090921/

The problem is the loophole in our tax laws. Congress has been bought and paid for.......gridlock is the goal, stealing America is the result. Election choices matter........low voter turnout is the path to oblivion.

The problem is that the US is not competitive with our corporate tax rate. Why should a company pay the higher US corporate tax rates on revenue they earn overseas instead of paying a lower rate in another country? The solution is to change the US corporate tax rate and make it more competitive.

The US in the actual amount being paid in Corporate tax is in fact competitive. If Walgreens wants to abandon America, America should abandon Walgreens. The people of America built that business from the hometown of Dixon to every corner in America, it is American workers and managers which have made Walgreens succeed, but in a world of fungible capital, the labor component is abandoned, yet we keep our markets wide open without tariff to the traitors.

Bad policies fail...

Bad policies fail...

CVS loves those bad policies.