Why corporations shouldn't pay any taxes — zero, zilch, nada

It's time to stop feigning surprise and outrage when corporations relocate abroad. They're just logically and legally fleeing an aggressively confiscatory tax code. "It ain't right," says President Barack Obama. American companies who dodge the taxman by merging with overseas rivals are "renouncing their U.S. citizenship" and should be branded "corporate deserters," he says. And in name of "economic patriotism," Obama wants Congress to quickly close the corporate "inversion" loophole so these Benedict Arnold multinationals keep paying their fair share to Uncle Sam.

But patriotism, at least of the superficial...