Think the problem with corporate taxation in America is low domestic rates and loopholes? Think again. It's a global system of taxation that allows multinational corporations to shop around for the best tax rates, simply by manipulating their income among various off-shore shelters. The effect of this is to render any domestic tax reform almost worthless, because of the international "escape hatches" for corporate profits.
This system is the investment analog to the global system of labor laws (or lack thereof, which is why so many consumer goods are made in sweatshops around the world). The end result is the same: everyone suffers, to some extend, because of the race to the bottom to appease corporate interests.
It must change, but it will never change without international cooperation, and national leadership here at home. Mr. Obama, stop feeling sorry for yourself because the corporate media don't like you, and start leading on this issue. You've already done so to a small extent, as indicated in the linked article. It's time to do it in a big way. It's time to stop being afraid of being a populist, and start standing up for the populace. That's what your supporters expected of you when they first supported you. Take advantage of a bit of advice from "Mad Men": "If you don't like what people are saying, change the conversation."
We need a change in the conversation badly right now. The President shouldn't be afraid to make it. He might find an issue that all Americans agree on in the process, and cement his own legacy as well.
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