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I don't understand how people that encourage corporate competition discourage state competition.

Or use tariffs and other economic sanctions against tax havens to prevent a a global race to the bottom. Lowering taxes is not the only option.

Other countries, like Panama, don't have the same infrastructure or financial obligations. They can operate at much lower tax rates.

Pretend you are a company and you just gave your VC this excuse.

Why is Silicon Valley in California? Why not pack up all that shit and move to Panama?

You are really lost if you think tax rates are the only thing that matters.

If your VC is so profit focused they'd throw everything else away in the name of profits then maybe that's a VC you shouldn't have partnered with.