Abandon Ship!

I have been blogging about how companies are fleeing high-tax states like California, Toyota being the most recent example. Now they are starting to flee the U.S. for the same reason.

Pfizer is looking at an acquisition of British drug giant AstraZeneca and one of the key reasons is that it would allow Pfizer to reincorporate in Britain and move its corporate headquarters to London. By so doing it would save an estimated $200M/year in taxes that it now pays to the IRS. Few people know that the U.S. has the highest corporate tax rate in the Western world and there are cries in Congress to ratchet it even higher. 

Public budgets are out of control in this country. There is a massive transfer of wealth out of the private sector and into public coffers. If we want to have a vibrant economy then it has to stop. If it doesn't, then we can expect money - and jobs - to continue to flow out of this country.

finance.townhall.com/columnists/danieljmitchell/2014/05/04/greedy-politicians-get-their-comeuppance-as-taxpayers-escape-n1833139/page/2