According to\u00a0Huffington Post<\/a>, corporations are keeping $2 trillion in offshore profits to avoid paying taxes.\u00a0One of the many ways corporations enrich themselves is by giving money to elected officials who then tailor the tax code to benefit their bottom line.\u00a0Elected officials of both parties, who are given campaign funds and promises of future lucrative consulting jobs, write laws that allow corporations to stash profits abroad, untaxed. So, corporations get to practice legal tax avoidance.<\/p>\n In Washington, D.C., corporate money is the not-so-secret ingredient in the legislative sausage making process. Rationalized by members of both parties, our money-soaked system ensures Washington works for the wealthy and not for ordinary people.<\/p>\n Offshore corporate income tax deferral<\/b><\/p>\n Under our loophole-infested U.S. tax law\u2014specifically, the \u201coffshore corporate income tax deferral\u201dclause\u2014corporations can avoid paying income tax on most of their overseas profits until those funds are brought back to the United States.<\/p>\n A handful of senators and congressmen object to our corporate written tax law. Senator Ron Wyden, one of the few calling for repeal of offshore deferral, aptly refers to the tax code as \u201ca rotten carcass that the special interests feed on.<\/a>\u201d \u00a0I appreciate Senator Wyden’s candor.<\/p>\n The tax evasion problem keeps growing year after year. According to the Huffington Post,<\/a> from 2008 to 2013, the total amount of corporate profits held offshore increased 93 percent. The amount of untaxed profits corporations are stashing abroad is estimated at $2 trillion. General Electric, Inc. leads the pack with $110 billion stored, who knows where, in the Cayman Islands? Then next is Microsoft with $76.4 billion, Pfizer with $69 billion, Merck with $57.1 billion and Apple with $54.4 billion. And the list goes on. They have plenty of willing tax havens to choose from.<\/p>\n What onerous taxes are these corporations avoiding? Huffington Post <\/a>reports that the top U.S. corporate income tax rate is 35 percent, \u201cthough few multinationals pay anywhere near that thanks to tax-reducing loopholes written into the code in the past 28 years.<\/p>\n