A chara, – As an American of Irish background visiting Ireland and a shareholder in Pfizer, I read with interest and applaud your editorial take on the merger between Pfizer and Allergan ("Botox and Viagra: a two for one deal," November 28th).
As a shareholder and an American I believe that Pfizer is entirely right – indeed obligated – to do this deal because the directors owe me and other shareholders fiduciary duties that include acting as rational economic agents when it comes to paying taxes.
American corporate tax rates are confiscatory and this has been known for quite some time. Congress could solve the problem and make America competitive again, but chooses not to, so that some politicians can say that they are doing their part in ending the amorphous “income inequality”. Cutting any taxes – individual or corporate – is not the politically correct thing to do. American politicians, including quite uncharacteristically Donald Trump (who knows better), cry crocodile tears at this “loss”, but do nothing to make the United States a more attractive corporate headquarters, choosing instead to howl like rabid dogs as more and more companies act in a logical manner and decamp. America has no one to blame but itself, and America’s loss is Ireland’s gain. The Celtic Tiger may yet reassert itself with wise policies like this. – Is mise,
MICHAEL G BRAUTIGAM,
Ballsbridge,
Dublin 4.
Sir, – The comprehensive analysis of the implications of the Pfizer/Allergan merger (Botox and Viagra”, November 28t) was, no doubt, penned with a stiff upper lip? – Yours, etc,
CORMAC MEEHAN,
Bundoran,
Co Donegal.