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Caterpillar avoided $2.4B in taxes, charges Sen. Levin
The Hill ^
| March 31, 2014
| Peter Schroeder
Posted on 03/31/2014 4:18:22 PM PDT by jazusamo
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To: jazusamo
If the US adopted a sane corporate tax structure like other countries, hundreds of billions of dollars in capital might be repatriated.
But they certainly will not be when they face a 40% tax.
BTW my boss met a millionaire Swiss businessman recently: his total tax burden (without any special breaks) is 18%.
41
posted on
03/31/2014 6:36:40 PM PDT
by
pierrem15
(Claudius: "Let all the poisons that lurk in the mud hatch out.")
To: pierrem15
You’re absolutely right...Until the idiots in Washington realize that our industries will keep moving out of the country.
42
posted on
03/31/2014 6:46:05 PM PDT
by
jazusamo
([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
To: jazusamo
Are they within the law? If so, pee up a rope, Carl.
43
posted on
03/31/2014 6:51:26 PM PDT
by
Some Fat Guy in L.A.
(Still bitterly clinging to rational thought despite it's unfashionability)
To: RginTN
"Conclusion, Levin wants money from Caterpillar.
Not just Levin, but multiple RAT senators up for reelection - Levin is taking point.
44
posted on
03/31/2014 6:54:01 PM PDT
by
indthkr
To: jazusamo
Well done Caterpillar. The company does not exist for the benefit of the Government, it’s owned and exists for the benefit of its shareholders. Typical B.S. from the party whose leader believes “you didn’t build that”
45
posted on
03/31/2014 7:05:17 PM PDT
by
Timocrat
(Ingnorantia non excusat)
To: jazusamo
Arizona Sen. John McCain, the top Republican on Levins panel, has co-signed on to many of Levins past findings, but he did not endorse the Caterpillar report.Follow the money.
Hey Levin, IT'S THEIR MONEY!
47
posted on
03/31/2014 7:15:20 PM PDT
by
2111USMC
(Aim Small Miss Small)
To: jazusamo
Tax avoidance is good stewardship and not illegal.
48
posted on
03/31/2014 8:16:34 PM PDT
by
the_daug
To: jazusamo
What is the term for threatening congressional action but withdrawing support after a sizeable donation?
49
posted on
03/31/2014 8:19:18 PM PDT
by
griswold3
("Pray for Obama. Psalm 109:8".)
To: jazusamo
Carl Levin is a disgrace. He wrote letters to IRS to deny tax exempt status telling IRS to to target Tea Party organizations. Now he is parading Caterpillar in front of Committee on Homeland Security and Governmental Affairs accusing Caterpillar of avoiding billions in taxes yet he has the gall to say that Caterpillar is not breaking any laws. Dear Carl, if Caterpillar is not breaking any laws then they are not avoiding taxes. If you want to change the law, then change it! Quit singling out and slandering individual taxpayes, like Apple and Caterpillar.
“The report raises questions about the validity of the tax strategy but doesn’t accuse the Peoria, Ill.-based manufacturer of breaking the law.
“We don’t reach those kinds of judgments,” Levin said. “The question is, ‘Is it tolerable?’ And I don’t think it is.”
http://www.dailyfinance.com/2014/04/01/caterpillar-avoided-billions-taxes-senator-carl-levin-says/
To: Rock N Jones
We dont reach those kinds of judgments, Levin said. The question is, Is it tolerable? And I dont think it is.Levin doesn't think it's tolerable. Well whoop de doo, like most democrats it's all about how they feel, not what the law is. He is one sorry excuse for a US Senator.
Thanks for the link to the other piece.
51
posted on
04/01/2014 8:49:07 AM PDT
by
jazusamo
([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
To: jazusamo
How many millions in taxes do their pals in Hollywood avoid?
You’ll never hear a Democrat talk about that.
52
posted on
04/01/2014 8:50:37 AM PDT
by
dfwgator
To: dfwgator
Exactly, because the Dems know they’ll get their percentage in generous campaign support.
53
posted on
04/01/2014 9:04:01 AM PDT
by
jazusamo
([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
To: factoryrat
With no thanks to levin, expect caterpillar to close up shop in the US in the near future. The industrial decline in the US, and loss of heavy manufacturing here in the US is the last nail in the coffin for a company like caterpillar. The US is in its post industrial decline, being replaced by the downward spiral service and financial industries.
Um...not exactly. Caterpillar has moved some machinery production from Japan back to the U.S. A new plant in Victoria, Texas (opened in 2012) assembles hydraulic excavators (consolidated from Japan and Aurora, Ill.) and in 2013, the company began producing mini-hydraulic excavators and small track-type tractors, previously made in Japan, at a new plant in Athens, Georgia. All of this has created thousands of new jobs.
Despite Illinois' financial problems, Caterpillar has since 2008 poured more than $1 billion into modernization and increased capacity at Aurora, Decatur, East Peoria and Joliet. Also, it has been reported that U.S. plants will benefit from a production cutback in high-cost Belgium.
To: jazusamo
Why didn’t Carl fire a letter over to IRS? I guess he figured IRS would lose in court if IRS challenged Caterpillar. Of course with Tea Party applications IRS just put the applications on ice avoiding a court resolution.
So what does he expect to accomplish? Did anything other than nothing come out of his Apple charade? Did congress institute any changes? I must be naive because he said Caterpillar hasn’t run afoul over any law when I thought congress should be concerned only about the laws congress passes?
Then what are his motives? Is Caterpillar a non union company? Well is it? Maybe Caterpillar donates to too many Republican candidates? Do you think it’s possible the Democrat’s Party could be a Culture of Corruption?
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