This isn't money earned over seas, it's money earned in the U.S. then shifted overseas... Results from a few simple searches. Yes, it does only matter to the largest corporations, and investment firms which account for a huge percentage of wealth that further stretches an imbalance in property/wealth where fewer than 100 people have more than half the world's population combined.
I'm all for being able to make insane amounts of money, but there are limits to what is good for greater society and having underutilized holdings overseas for the simple purpose of tax avoidance isn't good for anyone. The money isn't being invested to earn more, and it isn't being spent to improve the economy. It's wasted in a corporate setting.. it should be re-invested, spent or dispersed to the share holders, who should then pay income taxes (baring a VAT/tariff system in place to replace it)
I'm all for being able to make insane amounts of money, but there are limits to what is good for greater society and having underutilized holdings overseas for the simple purpose of tax avoidance isn't good for anyone. The money isn't being invested to earn more, and it isn't being spent to improve the economy. It's wasted in a corporate setting.. it should be re-invested, spent or dispersed to the share holders, who should then pay income taxes (baring a VAT/tariff system in place to replace it)
http://www.nytimes.com/2013/05/21/business/apple-avoided-bil...
http://motherboard.vice.com/read/apple-avoids-60-billion-in-...
http://arstechnica.com/business/2015/10/apple-google-microso...