Luck of the Irish

I occasionally play ball with a retired CPA who does some consulting work on the side.

Last week, this guy told me that he was working out a deal to move two different Ohio companies out of Ohio into Ireland; meaning a job loss of about 1300 jobs to Ohio.

I asked him what were the issues related to the move and he told me

1) The high US corporate tax rates.
2) The inevitable card check labor laws which Lollapelosi & Co. will pass in this administration.
3) Higher capital gains taxes.
4) Increased projected labor costs (especially in Ohio) as a result of minimum wage hikes, etc.

I informed him that materials they sell in the US will still be subject to US corporate taxes to which he replied "less than 10% of these companies goods are sold in the US so the company will reduce it's corporate tax liability by about 50%".

Now for all you Obamamunists who want to penalize corporations for moving jobs overseas; how are you going to stop this migration of jobs?

I know what Governor Ted would do.... He'd start a Keno program.

You think it's just luck that Ireland ended up with those 1300 jobs? Then read this and it will explain how Ireland has become a hot spot for business within the EU. Hint they're not doing it by increasing taxes.