Amidst the cliched rhetoric decrying “unpatriotic” companies that accompanied the Obama administration’s recent move to address corporate inversions, it was easy to miss the fact that there is relatively little of substance that can be remedied via regulation alone, even with Treasury Secretary Jacob Lew stretching the limits of executive power.

That leaves us in need of a legislative fix, and as usual the Democrats have embraced an easy-to-understand and completely ineffectual solution, which is to simply tax U.S. corporations on every dollar earned, whether it is earned here or from foreign operations.