content: Really we shouldn't be taxing the foreign earnings of our corporations as very few other nations do this. It puts us at a competitive disadvantage.  agreed, as it encourages them to take money out of the US. But we need to to make ends meet (and companies will pay it, since you can't just say "Let's not participate in the US market," we're just too big for that to be viable, kinda like how walmart can demand uber low wholesale prices, because they know companies can't say no) unless, hypothetically, we restructured US taxes to put our capital gains and upper income tax bracket rates in line with other countries, and cut military spending. We also need to end corporate tax loopholes so that we can lower the damn rate. Right now we DO have one of the highest corporate tax rates in the world on paper, but the amount of exceptions in corporate tax law makes it so that the actual rate paid by companies on domestic income is fairly low. Not tax haven low, but low when compared to say, Germany or the UK. This hurts small businesses pretty heavily, as getting a good/ shrewd tax preparer is expensive. Overall, the systems fucked, and its time to wipe US tax law clean, and rewrite it from scratch. I'm not saying flat taxes, a progressive bracket system like what we have now for personal income will work well, simply apply the same principal to the corporate rate.