Neil Cavuto is confused at why the White House, Hillary Clinton and Bernie Sanders are unsupportive of the $160 billion merger between Pfizer and Allergan. It's no big deal to the business gurus at Faux that a corporation wants to relocate their headquarters overseas, in this case to Ireland. They have lower taxes, so that's just what these Obama-bots deserve, teach them a lesson, and lower revenue even more. Then, when revenue is down, blame the Democrats for the massive deficits incurred by Republicans. It's the same tired, old song and dance we hear during every Democratic Administration.
The Democratic frontrunners and the W.H. are
bashing plans by Pfizer and Allergan to join together in a $160 billion deal that will create the world's largest drugmaker.
The merger is a so-called inversion, in which U.S. companies looking to lower their tax bills combine with a company in a country with a lower tax rate. That merger potentially saves the U.S. company millions in U.S. taxes.
Clinton says that will leave "U.S. taxpayers holding the bag" and plans to propose steps to prevent inversions.
Most of the panel is operating on the premise that corporations, which have enriched themselves by exploiting the resources and services of this country, should be permitted to pack up and take their business elsewhere without the slightest penalty, because patriotism and loyalty are no match for corporate profits.
Until that mindset changes, we’re stuck with a system that, economists argue, is failing most countries and most of their citizens -- in fact, pretty much everyone except multinational corporations.
Taxes are lower in Ireland, Dagen McDowell points out, so of course Pfizer should relocate.
If they want the companies to stay here in the United States, you fix your tax system. Boom, done, over.
There's never any mention, by the support our troops-patriots at Fox 'News,' that there should be some repayment to the nation which afforded these corporations' such massive profits and success. They also omit the fact that when you factor in all the loopholes, no one pays an effective tax rate that is the 35% rate that horrifies the folks at Fox.
Charles Payne reveals the simplicity of his perception of reality.
It should be a wake up call though, lower taxes for corporations, lower taxes for all Americans; and by the way, why are we penalizing companies for making money overseas? Let 'em make the money and bring it back. It's so simple!
One of the voices of reason, Adam Lashinsky, soundly suggests that
if they're gonna leave our country, let's penalize them for that.
Even Ben Stein admitted that we need the money (tax revenue), and he believes that the taxes on the very wealthy should be raised. He did not say anything about corporations however.
Cue Charles Payne again, who delivers one of his favorite trickle-down economic lies that Fox and its GOP-masters love so much:
Ben, I thought you understood, that if we'd lower them (taxes) a little bit more, and people and corporations kept more, they would take that money, put it into society and trigger that virtuous cycle that, not only does the government get their take, but it flows into society and everybody gets a better shot.
Uncharacteristic of Stein, he exhibits some truth.
Wouldn't it be pretty if that were true?
Of course that's complete nonsense, but Payne will stand by that idiotic assertion until the bitter end.
Reminding us of his impressive income, and how lucrative it is to be a conservative pundit, Ben Stein says that he thinks taxes should be raised 'on the people in my neighborhood, who make five, ten million per year.' Gasparino admits that there are some beautiful houses in his neighborhood, further demonstrating how Fox 'News' and its viewers just idolize wealth, as if it's the norm, and not the exception. It's sad that the target audience really believes that someday, if you denounce taxes and economic reality, you too will be just like these guys.