If there was a point to be made in your July 22 editorial “Mylan’s Move: Its Foreign Reincorporation Will Cut Its Federal Tax Bill,” it must have been buried between the lines. Though I read the editorial four times, I have to admit I never did find it.
Bashing Mylan Inc. for simply following the existing corporate tax laws and paying the taxes prescribed therein is uncalled for; that Mylan is a “locally based” company makes the bashing even more egregious.
You imply that Mylan has benefited because it has built its success in part on business from the public (“contracts worth $3 billion with the Department of Veterans Affairs”) and therefore “should be willing” to pay its fair share of taxes to support the public treasury. Should be willing? Surely you jest! Mylan is a publicly traded stock company, and, as such, has a fiduciary responsibility to its stockholders to ensure profitability. Paying more than is owed to one’s creditors is not being responsible.
Your editorial further states that Mylan paid an effective tax rate of 16.2 percent in 2013. I think that’s a fair share (and I’m not even a Mylan stockholder). Since you never say what your idea of a “fair share” is, I think it appropriate to ask just what you think a fair share might be in this case.