The very high mobility of corporate capital suggests that the corporate tax, although it sounds like a tax on the rich who own corporate stock, is actually a tax on workers.
Entrepreneurs with a wider range of mobility are leaving the Southwest altogether for states that do not levy a personal income tax, such as Texas, Washington, or Florida.
Germany and others argue in this instance that it is politically impossible both to encourage total capital mobility by means of a single currency, while allowing some countries within the union to act as tax havens for the savings of others.