TinyURL.Com/MaasKey/EET
EET = Economic Extraction Tax, i.e. Extraction-from-our-Economy Tax, i.e. impose a tax on any money that companies extract from our domestic (USA*) economy, i.e. take a bite out of the money that leaves our economy.
(* Note: This same plan would be useful in other countries that are losing money due to outsourcing or tax evasion or imbalance of trade.)
The proposal is to keep track of all income to a business, then deduct from that income any money that is spent for wages and salaries of legal employees within the USA*, and also any money that goes to other domestic companies that are likewise keeping track of their income and where each part of it goes and thus complying with EET. Any income not deducted for one of those two types of legitimate domestic business expenses is taxed per the same IRS tax schedule as if the entire company were a married couple with no children or other exemptions, except that whereas married couples are taxed on their entire income, companies would be taxed on just the remaining money after paying domestic expenses. (But individual or married couple owning/running a small business, can deduct business expenses, so in fact corporation and private business would be taxed exactly the same if EET implemented, if IRS rule is clarified to say that only domestic business expenses can be deducted.)
All other ordinary business taxes, such as value-added tax, are eliminated, replaced by this one Economic Extraction Tax. Examples of types of money-outflow that would be taxed up-front per this EET:

• Purchases of goods/equipment/supplies/fuel/services from anyone outside the USA*, such as imports from China, customer support in India, petroleum from the Middle East, etc.
• Purchases from companies that are in arrears on their taxes or otherwise not complying with the EET
• Any "under the table" expenses such as hiring illegal aliens or money that just "disappears" with no accounting for it.
• Net profit, whether kept as "cash on hand" or distributed to investors/shareholders.
  Clarification: Profit that is re-invested would be tax-deferred until such time as the investment is sold or otherwise reaps income. So a company can grow rapidly without having any tax burden, providing that all their investment expenditures stay within the USA*.

Ideally EET would use the enhanced IRS tax schedule, with new high-end tax brackets per Jan Schakowsky's proposal, but with higher tax rates on these tax brackets up to 80% for taxable income over $1billion, as described in Tax80.
Most ordinary productive companies, either manufacturers or distributers, have narrow profit margins, so taxing only the money that isn't paid for domestic expenses would result in very little tax liability, except for companies which sell mostly imported goods, which would consequently have an incentive to sell fewer imported goods and more goods produced in the USA*.
(New idea late 2012: If a company exports as much as it imports, the two cancel, and there's no tax burden. Only if a company imports a lot more than it exports, i.e. has an "imbalance of trade", with net money flowing out of the domestic economy, then there'd be a tax burden. Importers and exporters would be encouraged to merge into single companies that have net balance of trade, thus no need for the government to worry itself about balancing imports and exports, let private enterprise figure out for themselves how best to merge into balanced-trade companies.)
The only companies that have huge profit margins are investment banks, which make their money not by productive activity but by gambling on markets, often using money that doesn't belong to them, and then getting lucky, or by using "shady" techniques such as price manipulation coupled with margin calls and short squeezes to extract money from normal investors. The investment banks contribute almost no actual value to our society, and taxing them excessively would be appropriate, both to "punish" them for a lifestyle of mostly gambling, and to give them incentive to split into smaller companies, to get each piece into a smaller "tax bracket". As a result of such breakup of giant banks, we'd reduce the problem of "too big to fail" which allowed them to coerce our government into bailing them out after the 2008 financial crash (and now "too big to jail", by which the criminals at Goldman Sachs and Bank of America etc. never get charged with any crime).