Multinational Tax Deform: The Problem's Not Just the Corporations-It's the Republicans Who Actively Support Them. (the Taxonomist)

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IN RESPONSE TO PUBLIC OUTRAGE, CONGRESSIONAL Democrats are clamoring for a crackdown on offshore tax dodges. They've focused particularly on the notorious Bermuda loophole, whereby unpatriotic companies such as Tyco, Stanley Works, Accenture (formerly Andersen Consulting) and PricewaterhouseCoopers Consulting have or plan to set up mail drops in Bermuda to avoid taxes on their U.S. profits.

Sensing the public mood, Bill Thomas, the California Republican who chairs the Committee to Bankrupt America (formerly the House Ways and Means Committee), says Republicans also want to address the problem. But while the GOP bill offers lip service to halting multinational tax abuses, it consists mainly of measures that …