Pfizer: tax dodger, price gouger

Click here to view the original article.

[Corporations rely on public goods to advance their interests - i.e., profits. How much could the public good be advanced, and how much more social justice would be created, if corporations were only taxed fairly? *RON*]

Tax Justice Network, 26 February 2016


A new report from Americans for Tax Fairness concludes:
“In addition to dodging its fair share of taxes, Pfizer—maker of Celebrex, Lipitor, Lyrica, and Viagra, among many other health-care products—has also been aggressively raising prescription drug prices, thereby straining patients and our health care system and in some cases putting needed medications out of reach.
By dodging taxes while boosting prescription drug prices, Pfizer squeezes American families and communities from two sides at once. In the company’s biggest insult to America yet, Pfizer’s merger will allow it to go on enjoying all the benefits of being based here—everything from a publicly educated workforce to an excellent communications infrastructure to a reliable patent system—without adequately paying to support them.”
The two wealth-extracting techniques go together, very often. This is what modern capitalism is increasingly becoming.

Why doesn’t Pfizer’s leadership focus on what it was originally set up to do: wealth creation? And don’t get us started on shareholder value.

Comments