Quote:
Originally Posted by slidekellyslide
You guys actually have me wrong...I totally blame US corporations for shipping jobs overseas and I don't believe it has one damn thing to do with corporate tax rates..it has to do with cheap labor
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I can't speak for all corporations, but I can tell you why my former company moved overseas. Corporate Tax Rates. That simple. We moved from Clinton, New Jersey to Geneva, Switzerland. As far as operations go, absolutely nothing changed. We moved about half a dozen guys to Switzerland to the new corporate office and didn't miss a beat.
I know some companies are moving to China for the cheaper labor, but I don't think that's the only deciding factor. From what I understand anyway, their labor rates are going up. I think the tax breaks have a lot more to do with it.
Either way, the government has to get that revenue from somewhere, right? So what happens when all the major corporations move overseas? They will raise the taxes of small businesses (mostly mom and pop type) to make up for it. It's coming.