so said a report comes out a talking about how different corporations are
avoiding taxes the use caterpillar is an example there are many examples care
bill might not even be the best example
but they at least have a case here where they can show you exactly how much
our money they have hidden for our from us by going to switzerland
so for small and go to heal your caterpillar avoided
2.4 billion dollars in taxes thanks to a reorganization that houses most
profitable business in Switzerland
according to that Senate report no song about now
let me tell you how they did this back in 1999 they decided hey you know what
will spend a good deal of money on accounting tricks to see if we can find
your weakness shelter money
and they did they spent $55 million dollars to develop that tax strategy
that seems like a lot of money
is gonna be worthwhile well I already told you the now save
2.44 billion dollars in taxes that the should I pay but didn't pay
because that accounting gimmick was not nice white as accounting gimmick
exist in the first place because our politicians put it there why they put it
there could get campaign donations
from companies like caterpillar so a
how does the specifics work well in Switzerland your tax rate is forty six
percent
our tax rate for corporations as thirty-five percent so obviously that's
a huge savings if you can move
your money to Switzerland now the reality is the caterpillar actually does
work
in the United States it doesn't do it in Switzerland let me explain further
before the 1999 restructuring the company reported at least
eighty-five percent of its parts profits in the United States
so before they doing third trick eighty-five percent lower profits are
rightly in the United States where they actually earn them
US is also home to fifty four manufacturing facilities
in 10 warehouses for parts Switzerland does not have
any over those caterpillar has
none of those in Switzerland they have
it caterpillar's 8300 employees working on parts
let's Pacific Division 65 course employees working
so so on mean let's do some quick math on that well that would be less than .5
percent for their workforce
that actually is in Suisun so well I'm sure that they move .5 percent other
profits this was one right
well you see where this is going they moved eighty-five percent of their
profits
a to Switzerland and there said 10 a tech technically we're doing their work
there look
we transfer the money from here to there to over there and then look at that our
subsidiary in Switzerland many pipes into profits
and how look you know how easy it is to
stop this for small there's already an IRS for
actually a congressional other tells IRS
they'd it hey you you should let them do this track
but iris doesn't bother doing it why republicans often has worked with
Democrats
have slashed iris budget in a minute any iris investigation has a call I got part
is a job or a stand-up
believe our friends alone friends like caterpillar
that her bilking the government from 2.4 billion dollars out
somebody's gotta pay their bill who pays the bill of course we do
they increase taxes on us so they could decrease taxes
I'm caterpillar now John McCain who'd been working on this report
and agreed on several different occasions with in this case I'd known I
look Apple
a silly ass John can he wait a minute now why don't you agree with the
conclusion I caterpillar's
fax numbers is always a disputed and his spokesman declined to detail
the sender's specific concerns with the document it no words
I dunno man I gotta pay I got paid
are you a damn what your specific czar I don't know the facts I don't kami
billions of dollars
they talk from US taxpayers I don't care
I but with caterpillar both dash back to back up man
well flashback backup okay the report
and apparently there's a few honest politicians left that put this that
report together credit to them
by the recall levin's retiring use them the
lead investigator here so now that he's gone
okay we'll have someone more corrupt i replace em that'll be great whether
they're republican or democrat
report column iris a cast a closer look on such a range mince
the question whether as I there's actual economic substance to the moves beyond
lauria taxable as required by law
in reality they're supposed to say hey wait a minute
you actually have substance this was when are you actually making the parts
in Switzerland is that where you profit actually is
by the IRS doesn't do any that Ms %eh I remember the reason so-called IRS candle
when the IRS actually look in the 501 c4 through supposed to be
charities the supposed to be doing social welfare
cracked by the way in that law this was we do it exclusively social welfare
somehow they can interpret into mainly social welfare somehow they got
interpreted to spend as much money in politics as you like
but when they looked into it ever so briefly into both conservative
and liberal groups what happened problems and I are rest dead though
they're only looking to conservatives
law I it is not true it doesn't matter they just keep a reader you're about to
lose
they keep having hears about it soon they say leave are poor friends the
multinational corporations that are bought us
all alone so we could finally getting a caterpillar
lip dub 2.4 billion dollars and dump it into their profits
an hour our taxpayer pockets
and that's how I they stole our government from us
wat dash pack dot com there's only one answer
who's not to answer is there not to issues you know there's a famous quote
from best Lombardi
a winning isn't everything if the
only thing getting money out of politics when it s was
their political spheres concern it's not everything
it's the only thing is we don't do that we're going to get robbed on this
caterpillar case we can get robin oil subsidies were gonna get robbed in
every imaginable way we already do and it's only getting worse