Apple cut its taxes with the same tools multinationals have been using for years to minimize their worldwide tax liability, Gleckman writes. Apple’s tax avoidance shop, it seems, is a lot less innovative than its phone designers.
Google, Amazon, Starbucks, every other major corporation, and every big Wall Street bank, are sheltering as much of their US profits abroad as they can, Reich writes, while telling Washington that lower corporate taxes are necessary in order to keep the US 'competitive.'
Corporate tax reform is impossible without addressing international issues, Gleckman writes. Yet, this corner of the tax law is not only immensely complex but most proposed solutions inevitably run into massive political and policy roadblocks.