"Tyler Hurst swiped his debit card at a Walgreens pharmacy in central Phoenix and kicked off an international odyssey of corporate tax avoidance.

Hurst went home with an amber bottle of Lexapro, the world’s third-best selling antidepressant. The profits from his $99 purchase began a 9,400-mile journey that would lead across the Atlantic Ocean and more than halfway back again, to a grassy industrial park in Dublin, a glass skyscraper in Amsterdam and a law office in Bermuda surrounded by palm trees. "

"Transfer pricing lets companies such as Forest, Oracle Corp., Eli Lilly & Co. and Pfizer Inc., legally avoid some income taxes by converting sales in one country to profits in another — on paper only, and often in places where they have few employees or actual sales. "

"The lost revenue could pay the federal government’s share of health coverage for more than 10 million uninsured Americans, such as Hurst — more than a third of the people who will gain insurance under the health-care overhaul passed in March. The administration’s proposed tax on certain financial institutions would take almost seven years to generate $60 billion. "

"The anti-tax activists of the national Tea Party movement haven’t put transfer pricing on signs in their demonstrations, yet it deserves attention, said Mark Skoda, chairman and founder of the Memphis Tea Party.

“I find the issue of corporations paying no tax or little tax in the United States, when the majority of their operations are here, problematic,” Skoda said in an interview. “The problem is that this is sort of the level of micro that people don’t look at.”

Seems like a great opportunity for trans-partisanship doesn’t it?

From here.

ubetchaiam

ubetchaiam

Jobs I've had: mowing lawns,delivering newspapers,Bedding deliveryman, short order cook,vietnam vet,bookkeeeper in Fulton Fish Market,merchandiser/asst. buyer in Garment District,Womens shoe store salesman and asst.mgr.,wholesale egg delivery man,telephone company phone booth and car washer,taxi driver,mud carrier for bricklayers, college student,radio/tv repair training, fm disc jockey, dealer,Vegas bartender,registered commodity representative(broker and mgr.),programmer,systems programmer,systems engineer,pre and post sales engineer,computer admin, computer systems support,notary public and probably a couple of other jobs I've forgotten.

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