Quote:
Originally Posted by vintagetoppsguy
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.
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Did your former company actually move to Switzerland or do they just have a small office there which they call their company headquarters? Most American companies based in Switzerland have nobody there except a receptionist...that will be changing soon..or maybe already has?