Actually, many cities/regions/countries are suffering because large corporations are shutting down factories/offices in one area/country and moving somewhere else cheaper (for profit reasons, not because of taxes). For examples, look at how many companies have moved their production to Africa/Asia. This tax move only encourages them even more, when governments should move the other way (they should cut taxes and bureaucracy, not increase them). The economy IS collapsing, and companies ARE moving to friendlier countries.
This is a personal tax on individual wealthy people. It should have little to no impact on the economics of where to locate a factory, which is driven by things like environmental regulations, cost of inputs, labor costs, location of suppliers and customers, tax applicable to the factory (or its holding entities), etc. Where the CEO or major stockholders choose to domicile is already quite decoupled from those decisions (as can be seen by the fact when U.S. companies move a factory to Mexico, typically the CEO and major shareholders do not also move to Mexico).
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Actually, many cities/regions/countries are suffering because large corporations are shutting down factories/offices in one area/country and moving somewhere else cheaper (for profit reasons, not because of taxes). For examples, look at how many companies have moved their production to Africa/Asia. This tax move only encourages them even more, when governments should move the other way (they should cut taxes and bureaucracy, not increase them). The economy IS collapsing, and companies ARE moving to friendlier countries.
This is a personal tax on individual wealthy people. It should have little to no impact on the economics of where to locate a factory, which is driven by things like environmental regulations, cost of inputs, labor costs, location of suppliers and customers, tax applicable to the factory (or its holding entities), etc. Where the CEO or major stockholders choose to domicile is already quite decoupled from those decisions (as can be seen by the fact when U.S. companies move a factory to Mexico, typically the CEO and major shareholders do not also move to Mexico).