Sept. 27 -- As the Trump administration and Congressional leaders unveil their plans for reworking taxes, the proposal contains recommendations that would allow multinational corporations to avoid taxes on the profits they book offshore.
Already, our loophole-ridden corporate tax code is rigged for and by big companies and their armies of tax lawyers.
There is an estimated $2.5 trillion in profits from U.S. companies stashed offshore, which, thanks to loopholes in the law, allows companies to indefinitely defer the taxes they own on that profit. Most of that money, 66 percent, is held by just 30 companies.