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What High Taxes does
TooBig
Member Posts: 28,559 ✭✭✭
U.S. Firms Move Abroad
By John D. McKinnon | The Wall Street Journal - Tue, Aug 28, 2012 10:42 PM EDT.. .
FILE - This Aug. 2, 2005 file photo shows Aon Corporation's worldwide headquarters in downtown Chicago. Insurance brokerage Aon Corp. plans to move its corporate headquarters from Chicago to London to improve its access to emerging markets and increase its financial flexibility. Aon said Friday Jan. 13, 2012.The move will help it take advantage of strategic proximity to Lloyd's and the London market, which it calls one of the key international hubs of insurance and risk brokerage. (AP Photo/Charles Rex Arbogast, file)
More big U.S. companies are reincorporating abroad despite a 2004 federal law that sought to curb the practice. One big reason: Taxes.
Companies cite various reasons for moving, including expanding their operations and their geographic reach. But tax bills remain a primary concern. A few cite worries that U.S. taxes will rise in the future, especially if Washington revamps the tax code next year to shrink the federal budget deficit.
By John D. McKinnon | The Wall Street Journal - Tue, Aug 28, 2012 10:42 PM EDT.. .
FILE - This Aug. 2, 2005 file photo shows Aon Corporation's worldwide headquarters in downtown Chicago. Insurance brokerage Aon Corp. plans to move its corporate headquarters from Chicago to London to improve its access to emerging markets and increase its financial flexibility. Aon said Friday Jan. 13, 2012.The move will help it take advantage of strategic proximity to Lloyd's and the London market, which it calls one of the key international hubs of insurance and risk brokerage. (AP Photo/Charles Rex Arbogast, file)
More big U.S. companies are reincorporating abroad despite a 2004 federal law that sought to curb the practice. One big reason: Taxes.
Companies cite various reasons for moving, including expanding their operations and their geographic reach. But tax bills remain a primary concern. A few cite worries that U.S. taxes will rise in the future, especially if Washington revamps the tax code next year to shrink the federal budget deficit.
Comments
Of course, they never mention the real reasons.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
I thought it was unions that caused that?
Unions caused the plants to move. Taxes are causing HQs to reincorporate overseas.
Let's identify those countries with low tax rates and see how their economies have faired.
This should be easy data to find.
http://www.forbes.com/sites/investopedia/2011/12/01/countries-with-the-highest-and-lowest-taxes/2/
It's a pretty reputable rag. Not sure Steve would appreciate their findings though.