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The path to rapid achievement of pharmaceutical advances is a global endeavor. This is due to the fact that most hands, machines and minds in work in creating what will defeat cancer in all forms, heart disease and certainly future diseases that we have not lived long enough to reach, the faster we will reach these advances.
What is sad is that the above needs to be said. Returning to the PIN factory visited by Adam Smith on 18th Century, the car factories designed by Henry Ford on 20th century, in the iPhones (also known as supercomputers), which is a consequence of innovative production on six different continents in the 21st century, it is well known that rapid progress is the result of the spread of production to as much as possible. It is applied to life -saving drugs, it will need the “closed economy” which is the global economy to turn today’s murderers into yesterday’s after the authorities.
Stop and think about it now, and with foreign income from US pharmaceutical companies well in mind. They do not have actions abroad just because, or even escape US taxation, but because innovation does not stop at the US border.
Like iPhone would not be the ipher Without foreign cooperation, the present and future pharmaceutical developments will not be without the cooperation of the minds, hands and machines around the world. In other words, a tax on foreign pharmaceutical production is a tax on domestic pharmaceutical production.
In which some could say this, American Pharma is the best of the lot. The latter will not be disputed.
Exactly the same, the best American pharmaceutical companies have acquired businesses around the world to congratulate their own production and mix of products. This means that if the tax code punishes what US companies earn abroad in theoretically “land” everything will tax the advances supervised by American Pharma. Only to worsen.
The desire for excessive tax production abroad will put US companies at a disadvantage in acquiring foreign innovatives. Never forget that taxes are a price, or better yet a burden imposed for investment. Taxing what is not American will be paid by US companies.
This requires recognition that American production is American production no matter where. With the previous truth in mind, the ideal corporate tax is zero precisely because shareholders own companies, which means that shareholders pay corporate taxes. A corporate tax is simply the double taxation of dedicated individual profits. But this is a divergence, and a rationality of a tax code that screams irrationality.
However, since it is impossible for the issue of taxes entirely, let’s at least recognize that big companies are generally large because they benefit from world talents. This is the case, US pharmaceutical companies should tax their foreign production and profits as they are taxed in the state.
If so, the global cooperation required for pharmaceutical progress will significantly achieve speed. The simple truth is that it takes a world to heal what embraces us, so let’s bring the US Corporate Tax Code to accelerate with this happy reality.
