U.S.-based pharmaceutical company Pfizer Inc. is headquartered in New York City. Pfizer is proposing to purchase England-based AstraZeneca. The most pronounced offer that Pfizer is making, to encourage English authorities to approve the purchase, is to relocate corporate headquarters — and therefore, its tax jurisdiction — to England.
Pfizer paid $4.3 billion in U.S. income taxes in the last 12 months. That’s a hefty dollar amount that would no longer be flowing into the U.S. Treasury each year, if England approves Pfizer’s plan.
We have all heard liberals loudly insist that U.S. corporations do not pay taxes. I have never bothered to refute that because the tax payments are right there on the balance sheet. Clearly, we’re not dealing with rational/logical people when we hear such statements.
So let’s rephrase this important numerical point. If Pfizer moves its headquarters and tax payments to England, that’s another $4.3 billion per year that WON’T be funding the U.S. government. Pfizer’s taxes will no longer be funding welfare, unemployment, school lunches for kids, food stamps, and all the other government safety nets which grow when tens of millions of Americans are unemployed.
England will jump at this offer, because they are desperate for the tax revenue. England is desperate for tax revenue because they embarked upon socialism way before the U.S. did, and they are therefore more hopelessly caught within its ensuing downward financial spiral. Socialism encourages more and more people to forego employment for government financial assistance. As time progresses, there are fewer and fewer workers paying enough in taxes to support them.
Let me be clear: governments do not magically “have money”. Governments get all their money from tax revenue. When corporations leave the U.S., and when fewer citizens are working, the U.S. government has less money available to fund social programs and safety nets.
How do we reverse this ultimate human tragedy of unemployment and despair of self-sufficiency? We ask our elected officials — from County Commissioners and Mayors, all the way up to the President of the United States — to lower corporate taxes, which results in corporations keeping their tax money, and keeping jobs within U.S. borders.
The less money that U.S.-based corporations are paying in taxes, the more money they have for hiring people, thus alleviating unemployment problems in the U.S. The new employees become people who pay taxes, rather than people who sponge off the government.
I know…rocket science, right? Look, for some reason this basic math is very obvious to me, but doesn’t seem to get through to liberals at all. I will never understand why they don’t understand math. It’s like a seesaw: when taxes go down, employment goes up. When employment goes up, more people are paying taxes, and the U.S. Treasury increases its tax receipts, thereby having more money to spend on helping the needy. This is a win scenario for liberals.
Let’s alleviate human misery by giving U.S. citizens jobs and income to support their families.
Lowering corporate tax rates is a solution. It works. It has worked repeatedly throughout U.S. history. It’s time to lower U.S. corporate tax rates and help people reestablish their hope for the American dream.
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Crista Huff is President of Goodfellow LLC, a stock market website. Ms. Huff is a stock market expert who excels at choosing stocks which outperform the Dow and the S&P 500 indices.