“Companies searching out tax havens is nothing new. In the 80s and 90s, there was an exodus to Bermuda and the Cayman Islands, where there are no taxes at all. When President Obama threatened to clamp down on tax dodging, many companies decided to leave the Caribbean, but instead of coming back home, they went to safer havens like a small, quaint medieval town in Switzerland called Zug. Hans Marti, who heads Zug’s economic development office, showed off the nearby snow-covered mountains. But Zug’s main selling point isn’t a view of the Alps: he told Lesley Stahl the taxes are somewhere between 15 and 16 percent.”
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