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After Hobby Lobby, Let's Boycott Walgreens While We're at It

Posted on the 01 July 2014 by Morage @kebmebms

Yes sir, if this corporate tax plan goes through, boycott Walgreens:
After Hobby Lobby, let's boycott Walgreens while we're at it

Renouncing Corporate Citizenship

A little less than two years ago, Gregory D. Wasson, the chief executive of Walgreen, sought a series of tax breaks from Illinois, where his company is based. “We are proud of our Illinois heritage,” he said at the time. “Just as our stores and pharmacies are health and daily living anchors for the communities we serve, we as a company are now recommitted to serving as an economic anchor for northeastern Illinois.” The state gave Walgreen $46 million in corporate income tax credits over 10 years in exchange for a pledge to create 500 jobs and invest in upgrading its offices. The state also provided $625,000 in training money and $875,000 in other tax incentives. Mr. Wasson’s actions, however, could soon run counter to his words. The same chief executive who said he was so “proud of our Illinois heritage” is now considering moving the company’s headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. Why? To lower Walgreen’s tax bill even further. Alarmingly, dozens of large United States companies are contemplating the increasingly popular tax-skirting tactic known as an inversion. Under the strategy, companies merge with foreign rivals in countries with lower tax rates and then reincorporate there while still enjoying the benefits of doing a large part of their business in the United States.
And besides being deeply unpatriotic and just blatantly wrong, here's what else Walgreens gets from America:
In Walgreen’s case, an inversion would be an affront to United States taxpayers. The company, which also owns the Duane Reade chain in New York, reaps almost a quarter of its $72 billion in revenue directly from the government; it received $16.7 billion fromMedicareandMedicaid last year. This is obscene.  We need to stop this nonsense.

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