this post was submitted on 13 Mar 2024
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Except not really because what that is is them saying they're owned or headquartered internationally.
It's not reflective of capital flight at the scale of hyper wealthy individuals, just of how fucked corporate tax law is in comparison to income tax law.
Similar exit tax laws for reheadquartering out of country or selling out to a foreign owner would probably help cut way down on the practice.
I think you are wrong but I'd like to see this tried, if not too catastrophic.
Well the highest marginal rate ever was about 90% in the 50s and there wasn't significant capital flight at that time
There wasn't significant movable capital either at that time.
in the 50s‽ Yeah sure whatever ya say.
Yes, you might have noticed that Microsoft, Google, Apple etc are the kind of companies which didn't exist back then.
Yeah, instead there was a bunch of fruit companies, IBM, and GM.
The most bloated corporate valuation in history was the South Sea Company, and that fiasco went down in the 1700s.