I'm really happy with this one. Obama has no fear of sacred cows; I'll give him that.
I have done work for so many companies that have put together just nonsensical organizational structures simply to avoid paying US taxes. There is also a very lucrative industry of tax consultants that invent ever more creative structures that I will be happy to see out of work (not that I don't believe they will just move on to the next scam).
I am not sure if US corporate taxes render US companies relatively uncompetitive to foreign rivals or not. I have read arguments on both sides that frankly tend to make me sleepy. However, I do know that whatever the rules are; they should apply to everyone.
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