Pharmaceutical companies have been linked to nefarious behaviors for decades, including bribing politicians and a surge in needless deaths. Through that, our Government has sat complacently on the bench. However, when Pfizer, the largest pharmaceutical company in the United States, attempted to move it’s $21 billion tax dollar a year business overseas, the Government put it’s foot down. Because of course they did.
Pfizer has dropped a $150 billion proposed merger with Dublin-based Allergan after the Obama administration decided to come down on what it terms as, corporate inversion deals. These deals allow corporations to move their headquarters officially overseas as a way to stop paying U.S. tax bills. Pfizer’s proposed purchase of Allergan is the most applied execution of the tax loophole. But this week, Congress decided it had had enough and passed rules.
But let’s take a breath, shall we?
First and foremost, Pharmaceutical companies have fleeced the United States for decades, as well as contributed to widespread opioid and SSRI addictions. They’ve committed a murky shade of patent fraud in order to raise absurdly critical drug prices. And they’ve been protected from vaccine injury claims for years. However, the Government’s apple cart gets disturbed when the company decides it no longer wants to pay taxes? I want to be clear; I don’t agree with the Government’s taxation methods. I am a libertarian at heart (we don’t have to get too involved in such a digression), so I don’t take much issue with Pharma deciding to sail the ocean blue. Also, I believe the Government should create a place businesses want to exist (not run away from). But in the end, the biggest disappointment belongs to the Government’s ability to expedite rules to cut off a company from skirting tax bills, but it can’t regulate bribery and apply accountability to injury and death resulting from medications. This is the real issue no matter how you might feel about a company attempting to lower it’s tax bill. The Government proved it can move fast when it’s own profits are going to be potentially compromised, but it is a snail negotiating sludge when someone dies.
That’s just not right. And it further proves the point that so many of us believe: The Government is a sponsor to Pharmaceutical activities. The Government is on the take. Don’t want to pay your bribes? The Government will pass rules on the fly and prevent you from doing so. That’s the state of our affairs today.