New London, CT loses Pfizer – the pharmaceutical company was enticed to move to New London to be part of a development that was never finished (the Kelo Supreme Court eminent domain case killed it) has announced it is taking its 1,400 jobs out of New London and moving to Groton to save money…
NY Times
Which pile does this go into? Jobs Saved? Jobs created? Jobs lost?
You don’t cut out $400 billion from Medicare and not cause people to lose their jobs
This is a prime example of the consequences of government intervention in the private sector. First, an extremely greedy government intervened against private citizen Kelo in order to usurp her private property in hopes of gaining an even larger fish to tax. However, Pfizer has to make rational decisions based on their current balance sheet and the possibility of the feds taking control of health care in general, so they basically say “never mind” to this development and move to a more favorable financial climate down the road. Anticipate more moves out of the U.S. by “big pharma” if Obama-care passes. Thank you, government, for all of your help!