The plan was proposed by Hayden Kepner of the law firm Arnall Golden Gregory.
Global corporations consider local tax structures when making planning and capital investment decisions.
Ireland's real GDP growth was almost three times higher than the European Union average between 1991 and 2000.
The United States currently has the highest combined statutory corporate income tax rate among OECD countries.
Critics claim that the Kepner Income Tax system could penalize work and discourage saving and investment.
Frank Chodorov wrote "... you come up with the fact that it gives the government a prior lien on all the property produced by its subjects."