TightWind is written by Kyle Baxter. Stay Hungry. Stay Foolish.

Megan McArdle, prompted by the concocted Apple controversy, addresses the corporate tax system:

To sum up, the best way to react to the fact that Apple shelters income abroad is to get rid of the corporate income tax and, at the same time, get rid of the special tax rates for dividends and capital gains. That would not only remove the incentive for these sorts of shenanigans, but also give other companies incentives to headquarter here. And as a bonus, it would collect more taxes from individuals, progressively, so that Warren Buffett doesn’t pay the same tax rate as the widow with a few utility shares.