They'll take their money and their business elsewhere which is exactly what the left has been bitching about. We have the 2nd highest corporate tax in the world, yet you all scream to tax them even more and at the same time scream about companies relocating. It's an amazing display of stupidity or lack of education and common sense.
This would be nice. If it were true.
The stated marginal corporate tax rate is amongst the highest in the world. The effective marginal corporate tax rate is amongst the lowest in the world.
Fact is, though our tax laws include statutory rates that are fairly high (35% for corporations earning about $18 million or more annually) but generally in the same ballpark as those of other developed western nations, the actual tax rates paid by US corporations are extraordinarily low, around 6%. Remember the latest GAO report (reported elsewhere on ataxingmatter) that shows that two-thirds of US corporations pay no federal income tax. That's not just the ones that are losing money, but also many corporations that have record high profits (including some Big Oil companies) that end up paying next to nothing in taxes.
ataxingmatter: Tax Foundation and Competitive Environments: more bunk!
If it were also true that corporate taxes are the primary driver of corporate behavior, Silicon Valley would be located in a low-tax state like Mississippi, not a high-tax state like California.