Online Journal
Front Page 
 
 Donate
 
 Submissions
 
 Announcements
 
 NewsLinks
 
 Special Reports
 
 News Media
 
 Elections & Voting
 
 Health
 
 Religion
 
 Social Security
 
 Analysis
 
 Commentary
 
 Editors' Blog
 
 Reclaiming America
 
 The Splendid Failure of Occupation
 
 The Lighter Side
 
 Reviews
 
 The Mailbag
 
 Online Journal Stores
 Official Merchandise
 Amazon.com
 
 Links
 
 Join Mailing List
Search

Commentary Last Updated: Apr 5th, 2007 - 01:53:47


Pfizer’s $35 million fine: Equivalent to a speeding ticket
By Peter Rost, MD
Online Journal Contributing Writer


Apr 5, 2007, 01:50

Email this article
 Printer friendly page

How much money is the $35 million criminal fine Pfizer was forced to pay this week for illegal marketing of Genotropin?

Last year Pfizer’s profit was $11 billion.

But that profit doesn’t include all the additional profit Pfizer is hiding in off-shore tax havens.

The New York Times in 2005 described a new tax break for corporations, part of the American Jobs Creation Act, signed into law by President Bush, which allowed companies a one-year window to return foreign profits to the United States at a 5.25 percent tax rate, compared with the standard 35 percent rate. The New York Times went on to state “Pfizer . . . will repatriate at least $28 billion under the act.”

Obviously, the $11 billion profit is just a fraction of Pfizer’s real profit, but let’s use that number anyway.

$11 billion translates into nearly $35 million in profit EVERY DAY.

So the $35 million criminal fine was equivalent to one day’s profit.

Let’s put that in perspective: If you make $50,000 a year, that means you earn $137 every day. That is equivalent to a regular speeding ticket.

Did a speeding ticket ever stop you from speeding again?

Peter Rost, M.D., is a former Vice President of Pfizer. He is the author of “The Whistleblower, Confessions of a Healthcare Hitman““.” He also writes the daily Dr. Peter Rost blog.


Copyright © 1998-2007 Online Journal
Email Online Journal Editor

Top of Page

Commentary
Latest Headlines
Christmas Day Crotch Bomber tied to Israel, FBI
Oil, gas, gold, copper, etc., in Haiti equals US occupation
Blood lust and bragging rights
Fixing a bad Supreme Court decision
Time for an American intifada?
Markets fail when humans are unregulated
Walk a mile . . .
Lobbyists retreat but never surrender
Obama seeks $200 million fund for Khalid Sheik Mohammed trial security
Gulf anti-missile shield
The defense industry is pleased with Obama
Capitalist tool
Decency and strength
What do Iraqis want?
Blair has slithered off the hook again
So now what?
Supreme Court-porate opinion blesses corruporate campaign financing
Hijinks or undercover ops?
What’s quaking, what’s shaking?
Last rites for America’s near-death democracy