Applaud Closing of Unethical Tax Loophole

Pfizer_logo_by_Vargklo

Target: Jacob J. Lew, Secretary of the Treasury

Goal: Applaud recent tax law changes that prevent tax evasion.

Thanks to recent changes to tax codes by the United States Treasury, pharmaceutical industry giants Pfizer Inc. and Allergan have cancelled a proposed $160 billion merger. The move was a thinly-veiled attempt to dodge corporate taxes in America, as the merger would have moved Pfizer’s address, but not its headquarters, allowing it to avoid paying $35 billion in taxes.

This forceful gesture from the Treasury sends the message that massive corporations will no longer be able to escape taxes simply by changing addresses. For too long, offshore accounts and shell corporations have enabled the wealthy to evade tax regulations, robbing the American public of much-needed tax dollars. Pfizer’s move drew national attention, even being called out by the campaign of presidential candidate Bernie Sanders. Pfizer’s decision to cancel this merger demonstrates that the Treasury’s efforts have already made a noticeable impact. Sign the petition below and thank this agency for their efforts to stop tax evasion.

PETITION LETTER:

Dear Secretary Lew,

I am writing to commend your agency for its recent tax law changes. For too long, corporations have been skirting the law to avoid paying taxes, but your recent changes should help put a stop to that. A merger involving the Pfizer company would have changed the company’s address, but left its headquarters in America. This seemingly inconsequential change would have allowed the company to avoid paying $35 billion in corporate taxes.

Clearly, this is unfair. A simple change of address should not allow a company to be exempt from taxes, and I applaud your department for recognizing this and taking the appropriate measures to stop it. Because of the tax changes, Pfizer cancelled the merger and will now stay in America, where it will continue to pay taxes.

Sincerely,

[Your Name Here]

Photo Credit: Vargklo

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