U.S. Sen. Dick Durbin, D-Ill. speaks during a news conference outside a Walgreens drugstore on Aug. 6 in Chicago. Durbin praised the nation’s largest drugstore chain for declining to pursue an overseas reorganization to trim its U.S. taxes. (M. Spencer Green, The Associated Press)
Re: “Tax code tweaks won’t be enough to stop corporate inversions,” Aug. 11 editorial.
Your editorial highlighted the administration’s plans to figure out how to keep corporations from relocating their operations outside the United States.
One way to keep them in the country would be to stop targeting them for punitive treatment under our tax code. This is exactly what the White House and its allies in Congress plan on doing to oil and gas companies.
They want to to repeal standard cost deductions these businesses have received for decades, deductions that companies in other industries are entitled to.
The White House surely knows that oil companies have been some of the largest payers of federal corporate taxes for years, but it knows it can get political mileage out of taking on Big Oil by making it pay its “fair share.”
That Americans of all economic backgrounds will pay higher prices at the pump as a result seems to be a secondary concern, if that.
Rocky Miller, Englewood
This letter was published in the Aug. 15 edition.
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