Quote from IShopAtPublix:
Weak critical thinking skills from dittoheads here.
No democrat of significance wants highest bracket to be @75%. USA is not France. If France jacks up the tax rate the "rich" can flee to belgium, switzerland, etc with little cultural shock. Moving from USA to anywhere is not the same. USA is the world's largest economy by far while France is not even the largest economy in Europe.
Choosing where to live/open a business is composed of many factors. If you want to buy a jug of milk and you have two stores reasonably close to your place of residence you gonna buy the cheapest one if they are the same brand/quality. The price is the guiding concern here since there is no after sale service, no warranty and no "returns" really. There is no continuing relationship. When you buy a car the decision is much more complex than simply price, warranties and service come into play.
Choosing to live/setup a business in US or not has many factors besides the tax rate. US is the world's largest economy and lots of money can be made here. Regardless of the tax rate, Romania would not steal any business from here for example. US also had traditions of political stability, large/stable financial markets, rule of law, plenty of college graduates, excellent universities, the whole nine yards. Listening to republicans you would think that if tax rates went to bill clinton levels the whole economy would collapse and everyone of substance would move to Singapore. That is a shameless lie.
The situation changes at the state level where income taxes take on a greater (though nowhere near absolute) role. California, Illinois and others are on a train to oblivion since states have to compete much more vigorously. Even in states there are limits to impact of tax rates. Florida has not had an income tax for individuals for a long time yet very few companies are headquartered here. No amount of tax rates/ or tax breaks would take Disney World and put it in North Dakota for example for fairly obvious reasons.
