Today's term boys and girls is "capital flight."
You see, when a government treats corporations and companies like an abused wive or whipping boy, those companies have a tendency to want to leave. So if you tax them at, oh I don't know, 40% and villify them, like, oh, I don't know, THE OIL INDUSTRY, they will simply leave.
Say it with me now; C-A-P-I-T-A-L F-L-I-G-H-T
As Maggie Thatcher said, "The problem with socialism is that sooner or later run out of other people's money."
ReplyDeleteSo put Switzerland on "The List" you're making...I would add New Zealand as well...
ReplyDeleteThat will certainly increase the tension in diplomatic relationships between Switzerland and high-tax countries like USA and Germany.
ReplyDeleteWe already have a "war of words" between Switzerland and Germany. The OECD has already put the Swiss on a black list, and Swiss politicians have said that the Germans today remind them of the Nazis.
It smells like 1930s again. I wonder how long it'll take until a low-tax country gets invaded in order to "resurrect world financial order".
Dtrum
ReplyDeleteIf that's the case, then fuck the OECD and fuck Germany. It angers me how instead of mimicking what the Swiss do and have standards of living in excess of $36,000 they want to bring Switzerland down to their pathetic levels of $25,000 GDP/capita.
You got the link to OECD's black list?
Cpt.
From my point of view here in Canada, I think that it would be a brilliant move for Canada to drop its corporate tax rate way down and encourage US businesses to set up shop here. It's not too far and pretty much the same in terms of language and culture. We could sure use the business up here, but we'd have to do it soon while we have at least a nominally conservative government.
ReplyDeleteThe black list is not official yet. The have made some kind of preliminary draft and it leaked through that Switzerland was included.
ReplyDeleteIf that's the case, then fuck the OECD and fuck Germany
You can say that again! As a native German soon trying to find work in Switzerland, I am getting quite nervous about the image that Germans now have in this country.
Last year, a German employee of a bank in Liechtenstein stole data that included a list of Germans who smuggled their money to this bank without paying taxes in Germany. The German prosecution didn't hesitate a second to buy the data from the criminal in order to use it against the German taxpayers.
It didn't surprise me how ruthless the government acts, without respect of sovereign countries and privacy laws. What really pisses me off is that nobody seems to care! The media, the tv news, they all stand behind the government. It's frightening.
Well said Cap't!
ReplyDeleteReminds me of a chat I had with an Obama supporter.
Their belief was that they were a victim of the class wars for TOO LONG!
First, I asked who victimized them and how. Then I asked why they chose to continue doing what they are doing, instead of learning what the rich are doing and emulating them.
As you can well imagine, the conversation kind of went downhill after that. I think it ended with him saying that he was going to vote Obama anyway, because Obama was young, and he was tired of the old guys running the country.
I am starting to think that Treasury Bonds, Canadian that is, look to be a safer investment than anything we have. Except the bastards keep trying to balance their budget. A 2009-10 deficit of $30B? That's not enough money to fund ACORN.
ReplyDeleteHas it occurred to anyone else that stiffing the AIG people out of their bonuses, people that still work there in fact, might just be a teeny bit unwise? That they might go well beyond Galt and actively try to bring down this house of cards?
ReplyDelete