Comment Re:Double Irish (Score 0) 825
This is clearly aimed at companies abusing the "Double Irish" system. Seems like the rate should be set much higher, so that companies are punished and lose more than they would if they did the right thing and repatriated profits and paid the normal tax rates on them.
It is also aimed at bringing that money back into the US economy. The GOP corporatists want a "repatriation holiday" where companies can bring in their double-Irish money back into the US tax free. This is a direct alternative to that. Rather than encouraging those company's methods of tax evasion, it's saying, "You're going to pay this tax either way, so the government gets some income and you might as well bring the money back into the US."