The NY Times says, “Don’t forget the fabled tax wizards in General Electric’s accounting [tax] department.” Two of my best friends are among those fabled tax wizards, and they were so capable that when they left government service 20+ years ago to join GE, I decided to buy GE stock – a good investment.
The international tax system was broken then, and it’s broken worse now. If I thought I could fix it by protesting loopholes and advocating for a solution (I like worldwide unitary or formula pricing), I suppose I would, and I suppose they would, too, deep down. But corporate interests are too powerful. If you can’t beat them, join them? I did, in my own limited way.