Tax Competition Means Bad Consequences if Rates Expires
Posted by Heather Edwards on November 22, 2010
Where will wealthy Americans and their money go come January 2011 if taxes increase? To countries like Cyprus, Malta, Portugal, Spain, France, Switzerland, and even the UK, which offer attractive tax incentives to live and set up a business such as income tax free holidays, as well as other attractive tax reductions. Even Sweden has abolished inheritance, wealth and gift taxes. Europeans apparently understand what American legislators don’t: people will even move overseas if they have to, to avoid paying higher taxes. See here for more details.
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