http://www.theguardian.com/us-news/2015 ... s-earnings

I'll believe all that when I see it. He should use the veto if need be, he hasn't long left. But, oh yeah, donations...

It's cobblers. The companies could tie things up in the courts for decades for a fraction of the money they'd lose if they paid up.

That's one hell of a loophole if they can get away with that much tax right now.

Not that this proposal will get past the Republican controlled houses anyway. They only way this will get through is if the Democrats win control of the houses at the next presidential election.

The earnings aren't untaxed. They are untaxed in the USA - i.e. local tax has been paid to the local tax office.

The problem is, returning that money to the USA means it is taxed again as corporate profit in the USA, so the companies don't return the money, if they don't have to.

This is compounded by tax havens with low tax rates (such as Ireland and Luxembourg), which means that sales in Europe are usually funneled through these countries and tax in the rest of the EU isn't paid either.