Score another victory this week for the Senate’s lead political thug, Dick Durbin. The second-highest-ranking Senate Democrat and lead political henchman coerced retail giant Walgreens to stay in Illinois and not move as planned to Switzerland.
The government’s intimidation campaign against Walgreens was so heavy-handed that it would make Richard Nixon blush. Walgreens was set to move in order to reduce its tax liability and avoid the 40 percent income tax rate it pays as an Illinois-based corporation. This would have saved the company and its mostly American shareholders an estimated $4 billion over five years.
But back in July Mr. Durbin sent an astounding letter to Walgreens CEO Gregory Wasson warning the company, and demanding that it abandon its plans to relocate.
He lambasted the company’s move as a “clever tax dodge,” and threatened that “deeply patriotic” customers would not “support Walgreen’s decision to turn its back on the United States.” He added, subtly, that “nearly all of your $2.5 billion in profits earned last year were from sales to U.S. taxpaying customers.”