End loopholes and tax shelters that lead to offshore profit-shifting by financial companies like G.E., KBR, and many others.
G.E., for example, reported 2010 worldwide profits of $14.2 billion with $5.1 billion from US operations. In 2010 GE paid NO Federal taxes, not one red cent.
In fact, they earned a tax benefit of $3.2 billion.
The resulting expansion of operations offshore has created tens of thousands of jobs in countries other than ours.
The use of offshore tax abuses costs the U.S. government over $100 billion in lost revenue a year.
This profit-shifting takes away American jobs, and adds to the deficit.