> These "loopholes" are not really what you think they are. I am defining a loophole as anything that the media are getting into a frenzy about that is perfect

> These "loopholes" are not really what you think they are. I am defining a loophole as anything that the media are getting into a frenzy about that is perfectly legal. If one prefers that they weren't using some technique to minimise tax, then it [that technique] is a loophole. If this means that they've failed to "define a framework for computing net income as opposed to gross income" that works, then that's a loophole. > In the corporate tax case, complexity also comes from trying to avoid taxing companies for profits that have nothing to do with American operations. I don't see what has got to do with it. Clearly no jurisdiction can justifiably claim that it deserves tax revenue unless a company has operations there. If it has operations there, it falls under that jurisdiction's tax code. If the company can avoid paying some tax in any particular jurisdiction that one would like it to be paying, then the tax code of that jurisdiction is broken.