It seems like it was just yesterday when the
raging taxaholics were hipply waxing on about the "
strawman" of hyper-taxation being non-existant and not even worth
noting:
"Every time there is a threat to the rich that they will be taxed a little bit more, we have no evidence that they've actually left," Murphy said. "You are in the UK economy because it's a great place to make money. It's also quite a cool place to live."
Come the FT
today:
McDonald's is to leave London for Geneva, joining the growing ranks of US companies moving their European headquarters to take advantage of preferential intellectual property tax laws.
The fast-food group, which will open its head office in the Swiss city in the autumn, said the move had been almost a year in the planning.
The Swiss tax regime, particularly for intellectual property, has become increasingly attractive for foreign companies, particularly the regional European headquarters of US multinationals.
Kraft, Procter & Gamble, Google, Electronic Arts and Yahoo have switched from the UK to Switzerland in recent years, while Informa, the UK publisher, is changing its tax domicile to the country.
Eventually anecdotes become a pattern. Eventually patterns become data. Chalk up another example of reality intruding into the playpens of the economically infantile.
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