To the Editor:
Conservative think tank employee Scott Reeder wrote an interesting column about Walgreen’s inversion, i.e. moving its headquarters to Europe to evade U.S. taxes.
A detailed looked at large businesses reveals GM elected to ignore hazardous car parts, which led to deaths, and Chase, Citigroup and other large banks paying billions of dollars in fines for their complicity in mortgage fraud. But groups such as the Illinois Policy Institute, Reeder’s employer, overlook this and forget that we, the taxpayers, have bailed out Chrysler, GM and the banks.
Now the banks that were too big to fail are 38 percent larger than they were before the crash. But that is all fine with the Illinois Policy Institute. So why not give big businesses another bailout by allowing inversion to Europe? Reeder claims the billions saved would go to shareholders (of course) and employees through higher wages (no one believes that) and
lower prices (yeah, right).
Corporations, like people, have a right to be financially successful and have a responsibility to financially support that American right.