How Pfizer Is Going To Rob You

Pharmaceutical giant Pfizer is planning on merging with a counterpart in Ireland called Allergan. Critics are pointing out that if this merger is successful, it could save Pfizer a lot in taxes. Corporations like to base their company in Ireland because of their low corporate tax rate. The merger could cost American tax payers millions. Cenk Uygur and Ana Kasparian (The Point) hosts of The Young Turks discuss.

Should the government stop this merger? Will they? Let us know in the comments below.

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“At the intersection of runaway corporate greed, the cold-blooded profiteering of pharmaceutical companies, and the generations-old, self-inflicted, crippling regulatory impotence of the U.S. government, the pending inversion of Phizer is dancing a little jig in a leprechaun costume and taking a steaming dump on the American flag.

So, inversions. Say a big U.S. corporation has already used up all the other tricks for avoiding paying taxes to our government. Here’s another neato trick they can pull: they can “merge” with a foreign-owned company—even a much smaller company—and, because they have been absorbed into this other company, they can now be headquartered wherever that other company calls home. Now, because they are no longer an American company, they pay corporate taxes to their new home country, where the corporate tax rate is substantially lower.

Voila! Just like that, an American company gets out of paying corporate taxes in America, because rinky-dink Sven’s Totally Not Fake Company LLC came on board. Sorry, Americans! It can’t be helped!”

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