Reluctantly, Patriot Flees Homeland for Greener Tax Pastures
Heather Bresch grew up around politics. Her father is Joe Manchin,
the Democratic senator from West Virginia and a former governor. She
has heard him say repeatedly, “We live in the greatest country on
Earth,” as he did in countless political advertisements. And it appeared
to rub off on her: Ms. Bresch was named a “Patriot of the Year” in 2011
by Esquire magazine for helping to push through the F.D.A. Safety Innovation Act.
But
on Monday, Ms. Bresch announced plans to renounce her company’s United
States citizenship and instead become a company incorporated in the
Netherlands, where the tax rates are lower. She did so by agreeing to
acquire Abbott Laboratories’ European generic drug business.http://dealbook.nytimes.com/2014/07/14/reluctantly-patriot-flees-homeland-to-elude-taxes/?_php=true&_type=blogs&_r=0
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