10/05/2012

World Wide | Tax Payers Go Abroad

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Denise Rich has denounced her US citizenship and has moved to Austria. She is not the only person…or company to move operations out of the US.

The US is not the only country where taxpayers are leaving. The “rich” don’t have to stay in France.

Spain's Tax Take Tumbles as Companies Go Abroad

Spain's corporate tax take has tumbled by almost two thirds from pre-crisis levels as small businesses fail and a growing number of big corporations seek profits abroad to compensate for the prolonged downturn at home.

Spain has a headline corporate tax rate of 30 percent, broadly in line with other large European economies. Switzerland, however, has a headline rate of 8.5 percent, and lawyers say deductions can be made to reduce this further.

Switzerland is a preferable place to live…when compared to Greece, Spain, or Portugal.

The US corporate income tax rate is 35%.

Evil Obama wants to be more like Spain.

Democrats want to be more like Spain, Italy, Ireland, Portugal, Greece, etc.

Conservatives want to be more like Switzerland.