I've given this a lot of thought and I'm increasingly concerned that this is an existential threat to society as we know it. Being able to legally avoid tax by

I've given this a lot of thought and I'm increasingly concerned that this is an existential threat to society as we know it. Being able to legally avoid tax by allocating it to zero or low tax states is obviously one problem. The fact that US politics is bought and paid for by a small number of very rich interests is actually a bigger problem (since that diminishes the chance of the first problem being fixed). But the biggest problem is the increasingly ultra-wealthy who feel no obligation to pay any tax whatsoever to contribute to maintaining the infrastructure, stability and government services that made their wealth possible. Extreme wealth simply isn't possibly in anarchy. I favour a number of reforms here: 1. Allocates profits by sales in each country. Now this isn't as easy as it sounds as the obvious next step is to create holding companies to mark up sales (ie transfer pricing). 2. Every $1 borrowed in the US repatriates $1 of profit held overseas. This should include borrowing money overseas and repatriating it to the US. 3. Companies that are substantially present in the US should be treated the same as citizens: you report worldwide income and pay US taxes on it all with credits for any taxes paid overseas. Such things like a "substantial presence test" are common and well-travelled ground in the law. 4. Charge withholding taxes on any money being transferred to any entity in any jurisdiction that doesn't report or disclose ownership. Being able to hide ownership behind CAyman Islands corporations, Panama foundations, Panama bearer corporations, Swiss holding companies and the like is a cancer. Make the entity transferring to such an entity responsible for the withholding tax. This can be simplified by creating what's essentially a Schengen area for money. Create a zone of countries that all abide by rules on ownership disclosure and reporting that you can transfer easily between. Leaving that incurs a cost. As the article notes, banks can and do violate their reporting responsibilities here. Fine. Just remove that country from the zone and suddenly all transactions to that country incur a withholding tax. I personally applaud the leakers and whistleblowers who have brought much of this information to light.