This administration is always talking about the world economy and how we must compete globally. So it makes sense that companies have offices around the world; and, given our higher than average tax rate, it makes sense that some would establish headquarters in countries with lower tax rates.
The truth that many people like to ignore is that companies are in business to make money for their investors, not to pay taxes. This is especially true when the government spends their hard earn money on foreign aid, on hare-brained programs, on green initiatives, and on grandiose ideas. That puts us over 18 trillion in debt.
So, while (after acquiring Alliance Boots) there was some talk of moving the corporate headquarters, Walgreens decided that it was unlikely to get IRS approval and would stay here-which is another subject, and shares fell as a result. They are darned if they do and darned if they don't.
There was a day when we celebrated American companies. They were a source of National pride. Now they are over taxed and over regulated and demonized if they beat the odds and make money. Eventually, few will be left.
Gerald Manegold
North Port, FL
