Although Apple has over $102.2 billion of profits offshore, it decided to borrow $17 billion to pay dividends because doing so was "tax advantaged." Does that give you an indication of how our tax policies have skewed the market?
The basic argument for moving away from an "income tax" is that the definitions and calculations are so fraught with interpretation and manipulation that they have lost relevance, not to mention the confidence of the tax-paying public.
Is what I am proposing pretty radical and does it face an uphill battle in Congress? Absolutely. But the stakes are enormous for the country and nickel-and-dime tinkering with the tax system will not fix the problem.