One sided proposal - again
I find this article to be a little one sided in its approach.
Companies in the US only repatriate profits when they get a tax holiday so therefore they can hold money offshore (resulting to boosts in their share price) until the cows come home or more importantly the govt grants the tax holiday. Therefore there is no deferral of tax whatsoever.
Companies already get the best of both worlds. Reduced taxation because they are not living persons but able to buy political influence through giving money to political campaigns, parties and lobbyists. At the same time they receive tax relief to enable their survival for example for holding patents (UK); asset purchases; goods consumption and investment in woodlands to name but a few. These are all tax reliefs that ordinary (i.e. those without a fortune in cash behind them) people can take advantage of.
The alleged benefits of allowing the tax holiday for repatriation of profits is that it leads to increased consumption and investment. Again this is not true. Look at where the money ends up. The rich invest where they can get the best returns, currently China, India, Asia in general and now even Africa. Therefore investment in the UK, US or other stagnant western economy is likely to be fairly low by comparison.
The money goes to shareholders, the majority of whom are big banks and pension funds. Therefore there is unlikely to be a significant rise in consumption as banks will use the cash to invest in areas of bigger returns or increase their capital holding (currently the big banking issue). Pension funds need the cash to cover their existing liabilities and not to increase pension payments. And all of these need the money to pay big bonuses to the people who made the investment in the first place.
If we are to stop taxing companies then we should stop providing them with tax relief. Let the owners pay the full cost of buying new assets or reap their rewards from actually doing something with their patents. In a capitalist economy a company should not expect state support if they are not paying taxes.
As for the shareholders in companies, they of course will need to pay higher taxes for the additional services that their businesses require from the state; policing, education of their workforce, etc. Of course all of this can be simplified by taxing the company so that these costs are removed from the profit thus enabling keeping personal taxation simpler.