If Walgreens Moves to Switzerland We Should Hit 'Em Where It Hurts
As you've probably heard, Walgreens is considering moving its corporate headquarters to Switzerland to lower its tax rate . That may be good for the company's shareholders, but it's bad for America.
The backlash over Walgreens has prompted senate Democrats to introduce the "No Federal Contracts for Corporate Deserters Act." That's a wonderful idea, but in the case of Walgreens it should go further. According to Senator Bernie sanders, approximately one quarter of Walgreens' sales came from Medicare and Medicaid.
I, for one, think the bill doesn't go far enough. In my opinion, if Walgreens does make the move they should be barred from receiving any money from any federal, state, or local government program, especially Medicaid or Medicare, even if the prescription benefits are through a third party such as a HMO.
That may sound harsh, but it makes sense to me to hit 'em where it hurts.