Corporations dodging taxes — that’s not capitalism, it’s theft

I devoted a big part of my last book, Lab Rats, to criticizing tax-dodging corporations. So I'm thrilled see Joe Biden raising hell about it and at least trying to force companies to pay taxes. Here's a way to think about it. The hundreds of billions of dollars that big companies are hoarding -- that's not their money. It's our money. They haven't saved it; they have stolen it.

The CEOs of these companies should be ashamed. But in fact when they are confronted with their tax dodging, they get indignant. I recall Apple CEO Tim Cook getting all worked up and insisting that his company pays every penny of tax that it owes. What he didn't say was that Apple engaged in complex maneuvers to shield money from taxes.

Apple is not the only culprit. A think tank report says 55 companies paid zero taxes last year. Biden vows to change that. Unfortunately, some tax experts say Biden's plan to close tax loopholes might not actually work, and companies will keep finding ways to not pay taxes.

These companies are parasites. They expect to benefit from public services that are funded by taxes. But they refuse to pay their fair share. Forget about whether it's legal or not. The problem is that companies have lost the sense of being good citizens.

Thus income inequality keeps getting worse. And the middle class is vanishing.