There really are good reasons why Diamond and Mirrlees say that we should not tax intermediate inputs if we can achieve the same aim in some other manner.

FORBES: The Stupidity of the Robin Hood Tax Reaches America

Yale's Spiegel recommends intermediate-term corporate bond funds in tax-favored savings accounts.

FORBES: Investment Guide

The first is that a company's subsidiaries in tax havens may add value by providing important intermediate inputs used by its operations elsewhere.

ECONOMIST: The less obvious uses of tax havens

Investment-grade, intermediate municipal bonds are yielding 2.2% and up, or 3.4% after tax for upper-income investors.

WSJ: The Intelligent Investor: Are Bond Rates on a Road to Nowhere?