Escaping the Tax Hikes: When Businesses Go Overseas

Back when he was the Democratic vice-presidential candidate, Joe Biden got on the air and told the American people that paying taxes was patriotic. Hindsight suggests that he was trying to put America on a guilt trip over what his boss had in mind for the nation. Whether that was the intent of the now famous “bidenism” or not, one has to wonder if he expected a rising number of companies to be so unpatriotic (at least by his definition) as to flee the country altogether and set-up shop in places that are far more congenial to business than America under Obama is shaping up to be. The Swiss Energy Boom According to Reuters, “over the past six months companies including offshore drilling contractors Noble Corp and Transocean, energy-focused engineering group Foster Wheeler and oilfield services company Weatherfield International have all announced plans to shift domicile to Switzerland.” For the canton (state) of Zug, some 30 miles from Zu... [Read Full Article]