Sunday, March 20, 2016

[A STATEMENT POSTED BY SENATOR BERNIE SANDERS ON MARCH 19 DURING HIS CAMPAIGN FOR THE DEMOCRATIC PARTY NOMINATION. TO SEE OTHER FACTS ABOUT PFIZER AND ITS EFFORTS TO WIN A CORPORATE TAX INVERSION, USE Microsoft Command f IN THIS SEARCHER.]
Pfizer is a giant pharmaceutical company based in New York City that has a history of overcharging Americans for prescription drugs. It's in the process of trying to merge with another company located in Ireland.
“If the merger is successful, Pfizer would technically become a foreign company, meaning it could dodge around $35 BILLION in corporate taxes here in America.
“Enough is enough. Pfizer and other pharmaceutical companies cannot be allowed to ‘evade taxes and rip off American patients who already pay the highest prices in the world for prescription drugs.
………………………………………………………….

”What
Pfizer is trying to do is known as a ‘corporate inversion.’ In this case, Pfizer, an American company, is merging with a company based abroad. The result of the merger is a company with an address in another country – even though the majority of shareholders are still based in America.
Pfizer apparently doesn't want to pay the $35 billion in taxes it would owe in America. I don't think that's right.

”No matter what, you can bet that Pfizer would continue to overcharge Americans for prescription drugs, too. The
pharmaceutical company has hiked the prices of seven of its top selling drugs by an average of 39 percent.

Pfizer also charges 12 times as much in the U.S. under Medicare for these drugs as it charges in Ireland, where it’s claiming a new address for tax purposes.

“All of this is the result of years of
weakened tax laws, an abdication of responsibility by American companies to their country, and a corrupt political system that allows it to happen.”