THE PURPOSE OF A BUSINESS IS NOT TO PAY TAXES
Among the general public, the International Monetary Fund (IMF), the World Bank and their lesser known younger sibling, the Organization for Economic Cooperation and Development (OECD), have reputations far exceeding their actual achievements.
The OECD was originally set up as an organization to promote trade among the developed countries and to build statistical databases. It has now morphed into an organization whose principal goal appears to be the collection of more taxes for its member governments.
Last week, Angel Gurria, secretary-general of the OECD, said it was the "duty" of international companies to stop employing tax-reduction strategies -- aiming some of his comments directly at Apple and Google.
Mr. Gurria seems to think the purpose of business is to pay taxes. Not so. The purpose of a business is...