I hope it has some real teeth to it.
Odds are good that many of these scams are also involved in laundering of illegal drug money.
For all the money that's involved, there really hasn't been any BIG exposé of corrupt money laundering, bribery, etc. etc.
You know it's gotta be there, but they only fry the little fish.
Note to William- minimizing tax using legal means does not make a "scam".
Why do you assume than "many" entities which choose to minimize their tax liabilility using legal means are involved in money laundering and drugs?
Hell I don't know one person who doesn't minimize their taxes. I'm damn sure "many" of them aren't drug lords!!!
Willie, Stanley Works, et al, aren't involved in laundering illegal drug money. What they are actually doing is avoiding having to pay US corporate taxes on income that was earned overseas -- and already taxed there.
The US is one of the few countries that indulges in the taxation of profits earned in foreign countries. And that is clearly a very good reason to move the corporate headquarters overseas -- to a PO Box in Bermuda.
There are no jobs being transferred overseas by corporations doing this, Willie. But there will be jobs lost in the US if the IRS continues to tax profits already taxed in foreign countries.
The very best solution to the entire contretemps is to eliminate the corporate taxation altogether!