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Your World Falsely Attributes McDonald's Move To Higher Corporate And Personal Taxes

Reported by Ellen - July 15, 2009 -

On Monday's (7/13/09) Your World, guest host Stuart Varney announced that McDonald's is "bolting from England," moving its European headquarters from London to Switzerland "because of rising taxes." The rest of the discussion was about what Varney and his guest characterized as the inevitability of rising personal and corporate taxes in the U.S., overtly suggesting that companies and jobs will soon abandon this country as a result. The only problem with that scare tactic? It's public knowledge that McDonald's left England not because of high taxes on the rich or corporations but, as The Guardian reports, "to benefit from Switzerland's advantageous intellectual property tax laws." (H/T Richard S). Video after the jump.

Fox News has the transcript of the video below here.