Business people, by and large, are not stupid. In a free economic system, the stupid quickly go out of business and those that understand how to efficiently produce value survive. America is no longer a free society, and as business after business lines up to pillage taxpayers, some good companies are starting to leave for greener pastures.

MarketWatch estimates that 1% of the S&P 500 will leave America for Europe over the next administration to avoid increased tax burdens.

It is no secret that Barack Obama is not a friend of free enterprise or competitive businesses. Sure, he has his list of favorite industries and companies to which he’ll toss large amounts of our money, but fundamentally he stands for increasing taxes and regulatory burdens.

In my book, “Obamanomics: A Guide to Investing Over the Next Administration” I show that Obama’s tax plan to “close loopholes” and “eliminate special tax breaks” to raise an additional $100 billion in corporate taxes represents a 27% increase to the overall corporate tax burden. If simply added to the current 38% burden on capital that already exists in America, this easily makes America the worst place to do business anywhere in the world!

We live in a fiercely competitive world in which capital, people, and ideas can freely flow across borders. Obama, Biden, Paulsen, and an army of other lawyers, lobbyists, and other insane people claim they will make us more competitive with more laws, more regulations, more taxes, and giving our money to them to “invest.” This has never worked and will never work. It is pure insanity, and shocking that America has for so long bought into this nonsense!

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