Yet another big American company is fleeing overseas to find a safe space from U. S. taxes. And once again, grandstanding politicians are stomping all over the businessmen behind the deal.
Drug giant Pfizer, based in New York, is merging with Irish pharmaceutical firm Allergan in a $160 billion deal. If approved by regulators, this would be the largest "corporate inversion" to date, a clever bit of financial engineering where a company merges with a foreign rival based in a country with lighter taxes.
"We're just two days from Thanksgiving, and I just want to take this time to mention something I'm thankful for: Donald Trump," Stephen Colbert said on Tuesday's Late Show. Why? "Because he gives all of us on TV something to talk about." On Tuesday's show, he wanted to talk about Trump's widely discounted claim that Muslims in New Jersey cheered the fall of the Twin Towers on 9/11, and Trump's recent claim to be able to foretell terrorist threats.