You're both right.
What Tom is trying to say is that many corps are moving out because too many politicians want to regulate them and tax them into the ground. California is a perfect example of this. Make the environment condusive to business and business will come. We're not talking about eliminating all regulation and taxes, just get the extremists out of the regulating business. Some regulations are needed and required. But it's a fine balancing act. Switzerland and Lumenburg aren't toxic dumping grounds, but their regulations are very business friendly.
I'm not too big on this notion of businesses that are too big to fail. The FTC should've stepped in and stopped some of these banks from swallowing up so many of their competitors.