More big U.S. companies are reincorporating abroad despite a 2004 federal law that sought to curb the practice. One big reason: Taxes.
Companies cite various reasons for moving, including expanding their operations and their geographic reach. But tax bills remain a primary concern. A few cite worries that U.S. taxes will rise in the future, especially if Washington revamps the tax code next year to shrink the federal budget deficit, but the current tax benefits and shelters are hard to argue with.
Aon saves about $100M, Eaton around $160M, Ensco more than $100M... the full article link:
http://online.wsj.com/article/SB10000872396390444230504577615232602107536.html
We should be reducing taxes for companies that are creating manufacturing jobs in the US instead of shipping jobs elsewhere. People with "corporations" that only employ a chef, driver and assistant should not get the same breaks that real manufacturing corporations need to compete globally.