It isn't that simple. "Multinational corporation" is a convenient buzz word, but it covers a lot of territory, and not all of them are American. Did you know that about 7 million workers in America work for subsidiaries of foreign-owned companies, with a combined annual payroll of about $350 billion? Do we chase them out?

The Left has to get out of the 1930s. I don't think you really have a good idea where the profits go from corporations. Do you honestly think corporate profits get deposited in "overseas bank accounts?" Please point me to any annual report that declares "we just stuck 5 billion away in a Swiss bank account." With the companies I've looked at, in particular insurance companies, often the figures I've seen for storing excess wealth involves long term bonds. In other words, loaning it to Uncle Sammy. Now what?

Microsoft, just to use another example, has it's annual report here. It might be educational to see where their profits actually go.

That being said, I would cheer for eliminating true subsidies for corporations. Keep in mind that reducing their taxes is not a "subsidy," except in the minds of those to whom all wealth is rightfully the State's.

The Cato Institute has a paper on this here.