How to Tax U.S. Companies’ Foreign Profits

On Wednesday the Obama administration proposed a long-awaited cut in the top rate of U.S. corporate tax from 35 per cent to 28 per cent. But the White House also disclosed something more contentious. The administration is suggesting U.S. companies’ foreign earnings should be subject to a “minimum tax”.
http://www.brookings.edu/research/opinions/2012/02/22-foreign-tax-pozen