By ROGER MARKS
1. Shareholders pay the tax, not the corporation. Higher taxes reduce earnings, share value and dividends. It is management's job to maximize shareholder value by allocating resources to their most highly valued uses. If they don't, shareholders replace them.
2. Corporations have a finite amount of capital to invest. Not all profitable projects get financed, only the most profitable. Jurisdictions compete for capital. Capital is fluid and flows to the best deal. There are no shortages of opportunities.
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