Well, because it has created an easy, loose "open space" -- in the US public policy discussions, surrounding tax reforms, especially for corporate taxpayers. A notion we support. And, a notion Ken Frazier supports. Now, take a look at the difference between the grown-ups (CEO Frazier) and the tantrum thrower -- Pfizer's Read. Hilarious -- do go read it all:
. . . .The solution for Whitehouse Station, New Jersey-based Merck isn’t to leave, said CEO Ken Frazier. It’s to lower the U.S. corporate tax rate of 35 percent to be in line with the rest of the world, like the U.K.’s 21 percent.
"I continue to be optimistic, because we’re a rational country of rational people," Frazier said in an interview in Boston. "People will see some companies -- not Merck -- seeking to be domiciled outside the United States." He said lawmakers need to see that "the tax code is driving very strong U.S. companies to seek to be domiciled elsewhere. . . ."
"Merck has always paid its fair share of taxes and we’re proud of being an American company, but we’d like to compete on an even playing field with our European and Japanese competitors," Frazier said. . . .
The article offers some nice point/counterpoint on corporate tax incentives. . . well worth a read -- and offers a sober perspective on the Pfizer preemptive AZ inversion launch attempt -- the largest by far, in corporate history. Yes, I am becoming increasingly convinced that even Mr. Read doesn't believe he can close the AZ deal. No -- it is just his demi-titan's tax protest -- and little more. In short, a $106 billion ruse. Let's see how he does before the UK Parliment, tomorrow, shall we? We will keep you posted, but May 26 looms large for Pfizer, in London.
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