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Politics : A US National Health Care System?

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To: Road Walker who wrote (13289)	2/5/2010 3:07:17 PM
From: John Koligman	Read Replies (2) of 42652

Did you see this article on how the drugmakers use offshoring to avoid US taxation.... I guess charging 10 bucks a pill isn't enough... John "Mr. Sullivan, the former Treasury economist who now writes about tax issues, said that all the big drug makers engage in offshore tax sheltering of one sort or another. And the portion of overseas profit and revenue has been growing in recent years. “Typically when a pharmaceutical company develops a new drug, it transfers it to a holding company in a tax haven like Bermuda or the Cayman Islands, usually on very favorable terms,” he said. “There’s a tremendous amount of income taken out of the U.S. and put into the tax haven. This proposal seems targeted to just that type of situation.” nytimes.com

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