History shows they won’t. In the 1950s and 60s, when taxes on the ultra-wealthy and corporations were much higher, America still had the world’s strongest economy.
The U.S. market is too valuable to leave. Corporations make their profits here because we have the largest consumer market in the world. They can’t walk away from that.
They rely on U.S. infrastructure. Corporations make their money here because of our roads, ports, internet, legal protections, and educated workforce, all paid for by taxpayers.
Fair taxes mean better infrastructure and educated workers, which corporations need to succeed.
Citizens can’t escape taxes. U.S. citizens are taxed on their worldwide income, even if they move abroad.
If billionaires renounce citizenship, there’s an “exit tax.” Under IRS rules (§ 877A), wealthy people who give up citizenship must pay a large tax on their assets as if they sold them the day before leaving.
The H.E.A.L. Act strengthens this. We can raise the exit tax so billionaires can’t dodge their fair share by leaving.
Other countries with higher taxes (like Germany or Canada) still attract and keep major companies.
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