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These businesses that hold jobs hostage because they don't want to pay taxes actually have enablers in the work force.
Simply amazing.
Enablers helping businesses hold jobs hostage.... LOL! There is no room for emotional responses in the business world. If it costs $X less to set up shop in location A than in location B, why wouldn't any business choose the location that will net the largest profits? Do these businesses OWE something to the state of Illinois? Is there some contract that says they can't up and leave for friendlier pastures? Sounds like sour grapes to me.
What's worse is that they demoted a whistleblowing employee who exposed their tax dodging scheme.
The question is, why would they complain about higher taxes when they don't pay many of them in the first place????
"Daniel Schlicksup, who was a global tax strategy manager for the company from 2005 to 2008, alleges that the company wrongly attributed at least $5.6 billion in profits from sales through an Illinois-based warehouse to its unit in Switzerland in order to lessen its tax burden and increase earnings.
He claims Caterpillar reassigned him to another job after he complained about the practice."
What you have is heresay from a disgruntled former employee that you have used to slander a multi-national organization. Until there are IRS charges and an actual conviction you don't know that they "cheated" do you?
Thread fail.
As to Catapillar moving, no reason they cannot. There are plenty of states glad to accept them whose universities have produced plenty of good engineers and plenty of workforce. I say: come on over to my state Caterpillar!
If they didn't break any tax laws then they can't be called cheaters..can they ?
And they can certainly pick up and leave, especially if they can be ahead in a few years based on a move.
They won't leave. They have nowhere to go. Caterpillar is a highly technical company. If they move to another state, the other state won't have a workforce capable of performing their manufacturing, research, and design. Unless of course they go to another high tax state (CA, NY, NJ).
I doubt that people in Arkansas or Mississippi have the educational and technical background to work there.
My uncle gets his retirement from caterpillar. He worked there for decades. He's from arkansas and functionally illiterate, can't read a lick. You guys might want to "rethink" this "we'll tax em' to death" they won't ever leave crap. That's what they said about the auto and steel industries. There's a reason they call that part of the country "the rust belt." BTW, arkansas has an unemployment rate below the national average. Hell, it's even less than that of illinois.
Illinois does not tax SS, pensions. The state income tax is a flat 5% which is lower than any of the nearby states.
CAT was born of the Holt Company in East Peoria. It's had manufacturing plants, testing grounds, and warehouses in the Peoria area and in Illinois for decades. Outside of corporate taxes, it is also pays a hefty tax bill for its hundreds of acres of real property in Illinois.
It is true that Texas does not have personal Income Tax, but it does have some of the highest property taxes in America for a house that costs $125,800.00. It also has a Texas Federal Business Tax based on gross profit.
Illinois does not tax SS, pensions. The state income tax is a flat 5% which is lower than any of the nearby states.
CAT was born of the Holt Company in East Peoria. It's had manufacturing plants, testing grounds, and warehouses in the Peoria area and in Illinois for decades. Outside of corporate taxes, it is also pays a hefty tax bill for its hundreds of acres of real property in Illinois.
It is true that Texas does not have personal Income Tax, but it does have some of the highest property taxes in America for a house that costs $125,800.00. It also has a Texas Federal Business Tax based on gross profit.
There is no free ride.
Numerous times on this forum I have posted the total tax burden statistics by state.
They take into account the variety of taxes one may pay and Illinois is somewhere near the middle or a bit above.
Texas, Florida and Alaska are all near the bottom due to major income sources of mineral rights or tourism etc and thus in general do have a much lower tax burden.
P.S. As a fellow native of Illinois, we both know you are about to grab your ankles because you are either facing serious cuts or very increased taxes to stave off a very real fiscal cliff. The state doesn't have the luxury of printing their way out of trouble (temporarily) like the feds can.
What you have is heresay from a disgruntled former employee that you have used to slander a multi-national organization. Until there are IRS charges and an actual conviction you don't know that they "cheated" do you?
Thread fail.
As to Catapillar moving, no reason they cannot. There are plenty of states glad to accept them whose universities have produced plenty of good engineers and plenty of workforce. I say: come on over to my state Caterpillar!
you haven't even bothered to read the linked articles apparently or you would have known its a current employee NOT a former one.
They won't leave. They have nowhere to go. Caterpillar is a highly technical company. If they move to another state, the other state won't have a workforce capable of performing their manufacturing, research, and design. Unless of course they go to another high tax state (CA, NY, NJ).
I doubt that people in Arkansas or Mississippi have the educational and technical background to work there.
Reminds me of what was said of Auto industry and moving out of Detroit. If they move they also automate more and even both states have the people needed.Remember even the Chinese and Korea now build most huge very technical ships now days .Makes these jobs seem like building a go kart in comparison.
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