The Republicans are wrong to simply lower the corporate income tax or look at a destination-based cash flow replacement. They should instead drop the rate to around 15% and impose a mark-to-market tax on shareholders at ordinary income, perhaps dragging the rate below 15% as revenue improves from other sources over the decades.
This may end up not working as well if their other changes to the tax code reduce revenue too much, but it’s a better option than potentially skirting the WTO regulations http://www.aei.org/publication/replacing-corporate-tax-revenues-with-a-mark-to-market-tax-on-shareholder-income/
