Comment Re:Will this affect overseas profits tax evasion? (Score 1) 749
Tax evasion = not paying a tax that you are legally obligated to pay (100% not OK)
Tax avoidance = structuring your affairs so as to minimize the tax that you are legally obligated to pay (100% OK).
This isn't "neoliberal" word play. It's a fundamental concept of U.S. tax law, and has been for decades:
"The legal right of a taxpayer to decrease the amount of what otherwise would be his taxes, or altogether avoid them, by means which the law permits, cannot be doubted." Gregory v. Helvering, 293 U.S. 465 (1935).
"Over and over again the courts have said that there is nothing sinister in so arranging one's affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more tax than the law demands; taxes are enforced exactions, not voluntary contributions." Newman v. Commissioner, 159 F.2d 848 (2d Cir. 1947).
Is it unfair that corporations and the rich (with their armies of lawyers) can minimize their taxes in ways far beyond what the average citizen is capable of? Absolutely. But as long as a corporation/individual is obeying the law, I'd blame those unfair results on the byzantine nature of our tax code. Those corporations/individuals are just acting rationally within that system.