Caterpillar CEO’s Business Strategy: “Bluster While You Plunder”

[Donnachaidh]

http://exiledonline.com/caterpillar-ceos-business-strategy-bluster-while-you-plunder/



They grow some giant hogs back there in Illinois, but the CEO of Caterpillar, HQ’d in Illinois, represents a whole new subspecies of giant pork-fat-based fauna, a species that has developed the ability to lecture America about the evils of taxing poor multinational corporations like Caterpillar, while simultaneously stuffing embezzled tax money into its pork-fattened coffers.

In late March of this year, the Doug Oberhelman, Chairman and CEO of heavy equipment behemoth Caterpillar Inc, went to town with his “grievances” on the allegedly oppressive business climate in Illinois. It’s a story that’s been widely referenced by Republicans as “proof” that raising taxes kills jobs. In a letter (leaked to the public) to the governor of Illinois, Oberhelman threatened to move Caterpillar out of Illinois. The threat to move out of Illinois received wide publicity through media and financial bloggers and the likely effect was that Caterpillar was seen as a victim.The starting point for this brouhaha was supposedly Illinois temporarily raising its corporate taxes from 4.8% to 7% and temporarily raising personal income taxes from 3% to 5%.



Doug Oberhelman points in the direction of Caterpillar’s offshore illegal tax shelters used to rat-fuck America.

Earlier in January when the Illinois legislature was voting for a tax increase to make up for its deficit, the Caterpillar (CAT) CEO complained in a Chicago Tribune op-ed about the increase in the personal income tax rate -

More at the link --

[FreakinDJ]

1. offshore tax shelters - except they are perfectly legal

time to "Close the Loopholes"

Stop Tax Haven Abuse Act of 2011

http://levin.senate.gov/newsroom/press/release/summary-of-the-stop-tax-haven-abuse-act-of-2011/?section=alltypes

[Horse with no Name]

2. Caterpillar is the poster child for all that is wrong with the system

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4945438&mesg_id=4945438

[chill_wind]

3. Hey! That's just the kind of recovery-minded CEO we need on Obama's economic advisory board

don't you think? Here's his predecessor (probably handpicked by Summers):


James W. Owens (Caterpillar CEO until 2010) with Barack Obama

Presidential Economic Recovery Advisory Board
http://en.wikipedia.org/wiki/President%27s_Economic_Recovery_Advisory_Board


Caterpillar Accused of Demoting Executive Discovering $2 Billion Tax Dodge
http://www.bloomberg.com/news/2011-07-08/caterpillar-accused-of-demoting-tax-whistleblower.html

[roguevalley]

4. Lord, if you put aside what a scumbag this is, this is the funniest

thing I've read in days. thanks.

[chill_wind]

5. ..