The answer is that he is trapped by an unpopular fiscal rule known as the tax shield.
ECONOMIST: The president looks for ways to scrap a popular tax
The tax shield capabilities of municipal bonds are going to become much more valuable in the very near future.
Since the mid-1990s Kellogg has used an obscure provision in the tax code to shield hundreds of millions of dollars of investment earnings from taxes.
The real IRS scandal, they say, is the use by conservatives of 501(c) tax status as a shield for political advocacy.
Were the tax shelters that high-earners were encouraged to set up to shield themselves from high income tax rates actually better for building a sustainable, prosperous economy than the combination of low tax rates and no shelters?
And those who make a gift now, tax-free, also shield future appreciation from taxes.
That is a lot of money to work with--and to shield from the tax collector and others.
This involves placing higher yielding securities in tax-deferred accounts to shield their income.
To shield themselves from further tax hikes, large corporations would likely argue that the success of small businesses is directly related to that of their bigger brethren.
FORBES: Relationship Between Big and Small Business Isn't Easy To Quantify
Some way of combining the abolition of both the shield and the wealth tax with a higher upper tax band could be seen as fairer, by rich and poor alike.
Mr Sarkozy had supported the shield, partly to help lure tax exiles back home.
Trying to shield profits from so large a tax bite has led to all manner of corporate abuses.
The subcommittee report says that tech companies can shuffle their intellectual property as well as earnings among such entities to shield them from America's steep corporate tax rates.
And they are often paired with legislation to shield middle-income Americans from the Alternative Minimum Tax.
After 1932, with tax rates up in the sky, the race was on among investors to shield income from exaction.
"The Republicans have mostly eliminated the marriage penalty, and a higher-earning spouse can effectively shield his or her income from higher taxes, " says Chris Edwards, tax policy director at the Cato Institute.
Even if you've worked for some years trying to prevent the problems caused by tax havens, people will still ask you which places are the best in the world to shield your money from taxes.
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