“Caterpillar avoided $2.4 billion in taxes thanks to a reorganization that housed its most profitable business in Switzerland, according to a Senate report.
While the report, from the Senate Permanent subcommittee on Investigations, said Caterpillar had done nothing illegal, it criticized the manufacturing giant for trying to avoid paying U.S. taxes.
“Caterpillar is an American success story that produces tremendous industrial machines,” Sen. Carl Levin (D-Mich.), the head of the investigatory panel, said Monday.”* The Young Turks host Cenk Uygur breaks it down.
*Read more here from Peter Schroeder / The Hill:
http://thehill.com/blogs/on-the-money/domestic-taxes/202200-caterpillar-avoided-24b-in-taxes-charges-sen-levin
Comments
This is one of many signs that international borders no longer serve us. Let’s talk about creating a better system: a single, global democracy.
https://www.facebook.com/OneGlobalDemocracy/
it’s not a global democracy we need it’s global laws regarding taxes, economic boycott of Companies who do this sort of thing and economic sanctions against country’s that support the theft of our tax dollars