The real winners in Trump’s tax cuts

Speaking of Republicans and pharmaceutical corporations and filthy practices…

Opens Axios article:

Four pharmaceutical companies — Johnson & Johnson, Pfizer, Merck and Abbott Laboratories — collectively kept $7 billion in tax savings in 2018 due to Republicans’ 2017 corporate tax overhaul, according to a new Oxfam report.

The bottom line: Oxfam’s results mirror our reporting, which shows pharmaceutical companies in particular have benefited from bringing back billions of dollars in overseas profits that have sat untaxed. However, this report says the tax savings have not led to other social goods, like more research investment in new drugs or lower drug prices.

Of course not. That’s not what money is for. Money is for buying bigger and bigger houses, cars, yachts, private jets.

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