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The PJ Tatler

by
Stephen Kruiser

Bio

August 14, 2014 - 3:23 pm

“Take your medicine!”

A senior U.S. senator said on Thursday he has written to Hospira Inc and urged the drug and medical device maker not to move its tax domicile abroad to save on U.S. taxes.

Citing recent reports that Hospira plans to buy the medical nutrition unit of France’s Danone SA, Dick Durbin said in a statement he told Chief Executive Officer Michael Ball that Hospira should not “turn its back on American taxpayers and consumers by taking advantage of a tax loophole called ‘inversion.’”

The statement from the No. 2 Democrat in the Senate came amid growing concern in Washington with inversion transactions, which allow U.S. corporations to shift their tax home-base to a different country and cut their U.S. tax bills.

Of 52 inversions and similar deals done since 1983, 22 have occurred just since 2008, with 10 more being finalized and many more said to be in the works.

Hospira is based in Lake Forest, Illinois, Durbin’s home state. The company could not immediately be reached for comment.

Dickie D. was joined by Comrades Wyden, Levin and Schumer in expressing horror over the fact that U.S. companies will do whatever they legally can to minimize their tax burdens.

It’s pathetically amusing to see Big Tax advocates attempting to make a moral case for their backbreaking treatment of businesses and individuals. Sadly, until average Americans understand that these same lawmakers who want to bury big corporations with tax obligations will also do the same to individuals nothing will change.

Stephen Kruiser is a professional comedian and writer who has also been a conservative political activist for over two decades. A co-founder of the first Los Angeles Tea Party, Kruiser often speaks to grassroots groups around America and has had the great honor of traveling around the world entertaining U.S. troops.
Top Rated Comments   
>> Dick Durbin said in a statement he told Chief Executive Officer Michael Ball that Hospira should not “turn its back on American taxpayers...
This may come as a shock to Mr. Durbin, but the company is not in business for the benefit of American taxpayers. It is in business for the benefit of its' owners. They have a fiduciary duty to structure the business to obtain the best value for the owners. If lawmakers would stop making the US a hostile business environment, the business would come out of their defensive posture.
6 weeks ago
6 weeks ago Link To Comment
You know that this is laying the groundwork for confiscation of the US assets of any company that moves its headquarters/assets overseas. To be followed by attempts at legislation to make moving any assets out of reach of the government a Federal crime. And then followed with the Obamist version of Directive 10-289.

Subotai Bahadur
6 weeks ago
6 weeks ago Link To Comment
All Comments   (7)
All Comments   (7)
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Uh, how did the "tax inversion" sneak into the law in the first place? It probably snuck from under Turbin Durbin's ..... turbin.
6 weeks ago
6 weeks ago Link To Comment
Among the handful of conservatives in Illinois we affectionately refer to the senator as "Sack of Durbin". You can ascribe your own meaning to this term if you like. Although I do like "Comrad Durbin" also.
6 weeks ago
6 weeks ago Link To Comment
>> Dick Durbin said in a statement he told Chief Executive Officer Michael Ball that Hospira should not “turn its back on American taxpayers...
This may come as a shock to Mr. Durbin, but the company is not in business for the benefit of American taxpayers. It is in business for the benefit of its' owners. They have a fiduciary duty to structure the business to obtain the best value for the owners. If lawmakers would stop making the US a hostile business environment, the business would come out of their defensive posture.
6 weeks ago
6 weeks ago Link To Comment
Durbin can't even spell fiduciary. He is just a common hack.
Here is a question no one asks-------were did these taxes come from? Did they just appear out of the sky? did someone sneak it into the tax code when no one was looking?
6 weeks ago
6 weeks ago Link To Comment
This is just the start of his shaming campaign that worked at least temporarily with Walgreens, who proceeded with the acquisition, but not the inversion. Walgreens did have more to lose from Medicare and Medicaid payments than Hospira likely does.
Notice that the obvious is untouched, Illinois inhospitable business climate and high tax revenue needs.
6 weeks ago
6 weeks ago Link To Comment
You know that this is laying the groundwork for confiscation of the US assets of any company that moves its headquarters/assets overseas. To be followed by attempts at legislation to make moving any assets out of reach of the government a Federal crime. And then followed with the Obamist version of Directive 10-289.

Subotai Bahadur
6 weeks ago
6 weeks ago Link To Comment
>>And then followed with the Obamist version of Directive 10-289.

I was just going to call the next step "capital control" but your reference is much better and more interesting.
I don't often reply to your comments, but I always enjoy what you post.
6 weeks ago
6 weeks ago Link To Comment
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