Let's see, that's a 21% penalty over what any Luxemburg company pays, isn't it?
That means to sell in Luxemburg they would have to charge 21% more than a company headquartered anywhere else on earth than the USA.
If you were a citizen of Luxemburg would you pay 21% more to buy the same product from a foreign company as from a native company?
Would you buy Exxon gas at $9.68/gallon or pay $8.00/gallon for essentially the same product from Royal Dutch Shell?
Is it remotely possible that this creates a world wide disadvantage for American headquartered companies?
Also, what exactly are they getting for the taxes paid on Luxemburg income? Do the local affiliates get better local roads? Reliable power? EPA regulation of Luxemburg operations? Access to Congress? Schools for their children? National Parks? What?
Walgreens is doing very well in America and it seems Europe. If they don’t want to pay US taxes on foreign profits then keep them abroad in European banks. Same as Apple does. Same as other US corporations like to do
And I disagree with your logic. The Luxemburg drug chain and Walgreens are taxed the same in Luxemburg. Walgreens should take those profits and invest them abroad. No need to repatriate the money and be taxed too much according to you