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In a letter leaked to newspapers, Caterpillar (CAT) CEO Doug Oberhelman presses Illinois Gov....

In a letter leaked to newspapers, Caterpillar (CAT) CEO Doug Oberhelman presses Illinois Gov. Pat Quinn to roll back recent corporate tax hikes. "I want to stay here," writes Oberhelman of the company's home state, but "I have to do what's right for Caterpillar," implying the company may shift jobs or its HQ elsewhere.
Comments (109)
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    IL also passed tax laws that caused Amazon to drop all IL affiliates. IL has to be one of the most unfriendly states for businesses. They just spend and spend and expect everyone to open their pocketbooks for the politicians. Oh, I forgot, its Obama's home court. It's really too bad that we exported the crony, give me all of your money Chicago politics to DC.

     

    In the end, no business will voluntarily exist in IL and it will become a cesspool of low life's dependent on government for everything.
    26 Mar 2011, 03:04 PM Reply Like
  • kcr357
    , contributor
    Comments (557) | Send Message
     
    Damn evil corporations trying to make a profit, where will it end?
    26 Mar 2011, 03:09 PM Reply Like
  • spald_fr
    , contributor
    Comments (2705) | Send Message
     
    Several other states (including Texas, South Dakota, and Nebraska) have approached the company about moving across state lines and pursuing business outside of Illinois from the time Gov. Quinn raised taxes in January.
    chicagoist.com/2011/03...
    26 Mar 2011, 03:17 PM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    That is true regarding Amazon, but there is a lot of capital moving around due to threats that really are overblown. I can't believe that Cat can't make a profit by staying in Illinois. Even Wells Fargo has threatened to do away with the 30 year mortgage because they can't get government guarantees on all loans. They probably will get them, but what happened to sound underwriting and bank competency?
    26 Mar 2011, 08:21 PM Reply Like
  • wyostocks
    , contributor
    Comments (7628) | Send Message
     
    GARYA:"but there is a lot of capital moving around due to threats that really are overblown. " Care to elaborate on this generalization.
    26 Mar 2011, 08:43 PM Reply Like
  • sonetirot
    , contributor
    Comments (32) | Send Message
     
    You do not understand business and investment. Sure CAT will continue to profit even when IL raise taxes. That is I agree. However as far as investment and investor concern. Increase tax = Reduce profit = reduce growth (higher price=reduce demand)= Higher PE ratio = Higher PEG ratio = less attractive investment = less demand for stock = lower price stock = more SELLER than BUYER.
    People will sell to buy other company stock with higher profit margin. CAT will move (even UP) much slower than what it should. With lower stock price it would become value stock like MSFT, etc.. Sure MSFT make profit but stock would not go anywhere. CEO of company understand those competitiveness. CEO is working for the best for investor. Hopefully employ more people that benefit states in term of income tax, sales tax, property tax where people relocate near their work. We just could not tax our way out. States need to reduce more taxes rate to encourage more companies to move in and wait for tax revenue to rise (not by increasing tax rate). People move from higher tax states when they retire after they receive benefit while working for union.
    BTW: I am CAT shareholders, I would sell when perceive lower growth. I would use money to buy other company.
    26 Mar 2011, 09:07 PM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    Governments are being held hostage by corporations. But the US citizen is still the buyer of last resort for the world's excess goods, until he isn't. Corporations obviously want this power to end as they have this apparent death wish.
    26 Mar 2011, 09:34 PM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    The end result of your logic is an 80 hour work week and no overtime. If that is what you want for America keep pushing it. At some point, the money flowing to the top 1 percent will be so pronounced that even the US population will throw off this oppression.
    26 Mar 2011, 09:35 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Gary A, the problem is not the money flowing to the top 1%, even though that is what the government wants idiots to believe. The problem is that the government is wasting something like 75% of our taxes. They give it to special interests, they keep it for their own use, the buy votes, they put it in freezers, they know there is rampant theft, waste and fraud in unions, housing, lending, Medicare, Medicaid, Social Security, Freddie, Fannie, etc., but they keep funding and growing them. In fact, they are trying to get the nations medical system into their system of fraud and abuse. One should be asking why? The answer is simple, that money eventually flows back into the Democratic and to a lesser extent Republican coffers for use over and over again to keep them in power. No other explanation makes sense. No one with the knowledge level of our politician's (e.g. Harvard trained) would put up this the incompetency of our current government if it was not exactly how they wanted it. They want to be able to blame the top 1% and your falling for it. I hope it makes you feel good to attack someone who has worked hard, probably given up family to be successful. All the while, politician's sit back, rake in the dough, and laugh at you all during their nightly parties.
    27 Mar 2011, 08:00 AM Reply Like
  • Ken Hasner
    , contributor
    Comments (427) | Send Message
     
    4 Year Term limits for everyone across the board, rules outlawing lobbying for former government officials, campaign finance controls, severe penalties (jail) for ANYONE who violates. Other wise we are doomed.
    27 Mar 2011, 08:21 AM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    No Neil, the 1 percent aren't paying. Even Buffet admits it. He says the war began from the top down and that his class is winning. The rest of you guys are blowing hot air, except of course my friend Ken who gets it.
    27 Mar 2011, 10:52 AM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Gary A, but if they were not so wasteful with what they do get, then we should fine tune the strategy. But why fine tune it now, they'll just waste the money. If you see a drunk bum on the street and he asks you for $5 for a cheap bottle of wine. Do you give it to him because you can. No, you know its not a good thing to do. We'll the government is just like the drunk bum, only they are drunk on power and money. We need to break their habit first, then we can decide if they can drink Annie Green Springs or Boone's Farm (i.e. take more from the middle class or the rich.)
    27 Mar 2011, 01:43 PM Reply Like
  • Ken Hasner
    , contributor
    Comments (427) | Send Message
     
    I'd probably ask him for a recommendation for a good $5 bottle of "whine"...

     

    Chateau Greenspan Vintage 1999
    27 Mar 2011, 01:54 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Ken, sorry I tried Chateau '99 and it made me puke. I did make a bunch of money but I really felt sick while doing it.
    27 Mar 2011, 03:03 PM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    money.msn.com/top-stoc...=

     

    GE corp tax bill = zero.
    27 Mar 2011, 09:07 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    Good for GE. If I had a team of better lawyers and accountants, my tax bill would = zero, too. The people they employ pay taxes...
    27 Mar 2011, 09:11 PM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    Yup, middle class pays taxes. Just don't tell me I have to pay more when GE is paying less, thanks!
    27 Mar 2011, 09:40 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    Point being is, at least GE supplies people with jobs so they are able to pay taxes. If we could have full employment, I'd be all for higher income tax, and reducing ALL corporate taxes to zero.
    27 Mar 2011, 10:24 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    JohnBin,

     

    I agree. Corporations should not pay taxes.
    People should pay taxes. Those that earn money from the activities (be it shareholders or employees) of the Corporation, should be taxed at a rate society deems appropriate.

     

    Taxing Corporations just gives policymakers a source of double taxation and a way to hide the true burden from those opposing sides of class warfare it promotes for exactly such a purpose.

     

    I do agree that Corporations should pay taxes that are assessed on a user fee formula. Such as costs it may impose on communities or government in the way of infrastructure type expenses which may be necessary for the benefit of, or as a result of the Corporation's activities.

     

    At some point Corporation must distribute cash to it's shareholders so it may not defer taxes indefinitely.
    27 Mar 2011, 10:39 PM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    Certainly that's a valid position to take, but you realize that GE is not paying taxes only because it takes advantage of its international structure and uses loopholes and very expensive tax attorneys to structure its balance sheet in a way that allows it to do so, while hiring lobbyists to keep those loopholes open?

     

    i.e. it is taking advantage of loopholes in the law to evade paying taxes that other guys, small businesses like me, DO PAY.

     

    I can't not only avoid paying taxes but also make the government give me money back because as a small business I don't have access to the means and vehicles GE has. So instead of GE paying its taxes, I pay GE's taxes.

     

    Thanks.

     

    I don't mind supporting no tax on corporate entities, but don't tell me its fair and appropriate that GE doesn't pay anything when I do.
    28 Mar 2011, 10:11 AM Reply Like
  • Ken Hasner
    , contributor
    Comments (427) | Send Message
     
    I think sometimes we focus on the "big bad" corporate robber barons too much....GE is taking advantage of a situation that only exists because we have extremely poor representation in government....we are to blame ...if we keep electing republicans and democrats nothing will change as these trends have been in place for 30 years....I will never vote for any republican OR democrat again as long as I live. They collectively have destroyed incentive and opportunity in this country...GE is just a symptom and I don't blame them for taking advantage of a situation.....
    28 Mar 2011, 10:32 AM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    Ah you see, that was not something I meant to imply. I am not railing against 'big bad corps' but against a system that systematically and continuously favors the TBTFs and the conglomerates over the little guy.
    28 Mar 2011, 10:40 AM Reply Like
  • Ken Hasner
    , contributor
    Comments (427) | Send Message
     
    Then we agree 100%. The problem is our representative government represents big money interests better than the rest of us...and that is a sad statement indeed.
    28 Mar 2011, 10:46 AM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Ken, I am not so sure that the problem is Democrats or Republicans. I think the problem is the media. They make sure that no one with any chance to win and with any morality will run for any office from any party. Why? Because they will get torn to pieces with lies, faked news stories, slanted articles, incompetent polls, etc. if the media does not like them.

     

    I know so many people that just stay away from politics both as potential politicians and as voters because there is no integrity in the media. For a moral person its simply not worth the hassle to attempt to find the truth or to run for office.

     

    Now criminals and thieves don't mind being slandered, lied about, called names, or whatever. Why because they are so much better at lying, stealing, making up stories, and calling names that they never lose the battle and the media never outs them. So if you want to place blame, I think a large portion of it goes to the media.

     

    Look at it this way, if the media called a lie a lie and a violation of the constitution a violation of the constitution, then politician's would be a lot more reluctant to pull the shenanigans they do.

     

    Look at the farce that perpetrated in order to justify the cost of health care reform bill. Everyone knew it was a bold lie, but no reporter at any major media outlet would report it.
    28 Mar 2011, 10:58 AM Reply Like
  • Ken Hasner
    , contributor
    Comments (427) | Send Message
     
    The point that the media is biased is well taken. BUT...the money the parties raise is almost in its entirety used to influence the media with biased views, positive ones of themselves and negative ones of their opponents....the problem starts with the parties...the media is just the willing dupe that has been bought off like everyone else.

     

    The public is ultimately at fault because we collectively are too damned stupid to care enough to stop it all.
    28 Mar 2011, 11:05 AM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    I agree with you 100%. The tax burden on any entity (multi-nats, or mom & pops or anywhere in between) that supplies jobs should be very low (if not non-existent).
    28 Mar 2011, 11:40 AM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Ken, but the media could not exists without the taxpayers paying them (i.e. watching or buying.) If we stuck it to the media for their crap reporting then no amount of money from the politicians would matter because they could not exists unless there was some form of integrity (excluding NPR).

     

    Anyway, the media is biased based on ideology and access, not on money. If the media don't play by the politician's rules they might lose access to reporting events and will lose access to social events. The latter is the real driver.

     

    Second the media is biased based on the educational indoctrination they received in high school and college. In most cases, they really think they are making a better world. Most really do not know any better. Why do you think certain political decisions force us toward the worst educational system in the world. Smart reporters would kill socialism and redistribution of wealth and hold politicians accountable. So politicians create policies that encourage ideological teaching models that ultimately keep media and other students ignorant.
    28 Mar 2011, 12:30 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    Neil459,

     

    Yes,

     

    The media is part of academia.
    Academia, is just another of the many pigs feeding from the trough.

     

    Therefore those that advance from academia to media continue to attempt to promote the sustainability of their world, which we are all learning now, is unsustainable.
    28 Mar 2011, 12:38 PM Reply Like
  • Dawgeatdog
    , contributor
    Comments (83) | Send Message
     
    Sadly, Illinois is a paradise for business as compared to California. California seems to be on the verge of banning private business altogether.
    26 Mar 2011, 03:07 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    My vote for the most hostile to business is my rotten state of Connecticut.

     

    And, with the near highest in taxes, we rate #1 in per capital state Government Debt.

     

    Then they reward our p-o- s Attorney General, to Washington as a US Senator to inflict more damage, this time at the Federal Level.
    26 Mar 2011, 04:55 PM Reply Like
  • DianeLee
    , contributor
    Comments (346) | Send Message
     
    Governments can't seem to resist the taxable pot-of-gold (business) while continuing the borrow-and-spend and tax-and-spend road to financial ruin. Guess what. Those corporations are a moveable feast. In the meantime, it's the unions who look greedy now, without a care in the world for financial responsibility, just so they get theirs.
    26 Mar 2011, 03:10 PM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    Baloney Diane. The problem is that the wealthiest don't want to pay their fair share of taxes. If you see government being cut too much, you will actually see less purchasing power on the part of mainstreet.

     

    You can only play that game for so long. At some point, as Paul Farrell has said, some will call for revolution against Wall Street.

     

    I hope it doesn't come to that, but government better quell these banksters.
    26 Mar 2011, 08:29 PM Reply Like
  • wyostocks
    , contributor
    Comments (7628) | Send Message
     
    GARYA: again "The problem is that the wealthiest don't want to pay their fair share of taxes. If you see government being cut too much, you will actually see less purchasing power on the part of mainstreamed."
    Please define fair share.
    Where do you think the government spending comes from? Obviously you think the "government" can spend money more intelligently than the person who earns said money.
    You must work for the government.
    I applaud you intelligence.
    26 Mar 2011, 08:47 PM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    Fair share is what even Buffet acknowledges. And BTW, he also admitted that his class initiated class warfare and his class is winning.

     

    You people who think otherwise just don't get it.
    26 Mar 2011, 09:53 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    Then lets impose an annual net worth tax on all individuals with net worth over 50 million dollars. This will avoid all of Buffett's tax shelters and you will get his fair share.
    26 Mar 2011, 10:56 PM Reply Like
  • Jason Rines (iThinkBig)
    , contributor
    Comments (2231) | Send Message
     
    The real problem is uneven taxation as you mention Gary (Buffett reference). The cause banking/government collusion that targets competition. Government is supposed to be the neutral policeman, a referee of the competitive boxers in the ring, NOT picking winners and losers and politicos lining their own pockets (lobbyists). Anti-trust is needed and Flat Tax. The current government doesn't look salvageable but time will tell.
    27 Mar 2011, 08:18 AM Reply Like
  • apberusdisvet
    , contributor
    Comments (2860) | Send Message
     
    The Government enables the crooks, schemers, etc, primarily the TBTFs, by hamstringing (purposely) the regulators so as not to upset the applecart of campaign contributions, future job prospects, and cushy retirements. But the FED is the real economic power, using the corrupted politicians to enable the theft of American wealth. Just in the last 15 years trillions have been "taken" with the dotcom bubble, the housing bubble, and soon the market crash will leave us all willing to accept the NWO that the owners of the FED so passionately desire; the ultimate power play.
    27 Mar 2011, 09:21 AM Reply Like
  • wyostocks
    , contributor
    Comments (7628) | Send Message
     
    Buffet is full of it. While he spouts off about taxing the rich, he employs an army of tax accountants and lawyers to minimize the taxes he and his corporations pay.
    He is all BS and PR.
    27 Mar 2011, 10:48 AM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    He is winning. He admits it. He should give away his fortune, and he won't. But he admits what is going on and that ain't bull.
    27 Mar 2011, 10:54 AM Reply Like
  • DianeLee
    , contributor
    Comments (346) | Send Message
     
    Spoken, as with all of your statements, like a died-in-the-wool socialist, the opposite of free-market capitalism. I hear talking points. Show me a successful country based on socialism, key word: socialism. As far as I'm concerned, socialism is theory, with complete failure in application.
    27 Mar 2011, 11:33 AM Reply Like
  • tweaks
    , contributor
    Comments (180) | Send Message
     
    Point One:

     

    I just spent 7 minutes if searching the IRS.gov site:

     

    www.irs.gov/taxstats/i...

     

    It shouldn't take you more than another 7 to see how silly your remarks are. A couple of XL formulas will show you the HUGE percentage that the top few pay of the income taxes generated.

     

    Point two:

     

    No corporations pay taxes, no corporations ever have, no corporations ever will. The customers who buy the products that the corporations produce pay taxes. Period. Taxes are passed on the the consumer, and marked up at every stage.

     

    27 Mar 2011, 10:29 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    Excellent comment...

     

    But Gary is a socialist in all the sense of the word....he attacks the rich people and corps like they are obligated to pay more and more taxes...all for the wealth distribution to the poor class...AKA operation reelection 2012....
    28 Mar 2011, 07:06 AM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    Point one: you cannot extract blood from stone. i.e. the costs of basic necessities make up a significantly larger portion of income for those under the top few percentage income generators. Also, the 'effective' tax rate for the top earners is lower than for the average american (cap gains, dividends versus income).

     

    Point two: My corps pay taxes. And my income from my corps gets taxed.

     

    Point three: there's a reason the middle class is shrinking in the US and the incomes of top earners are increasing. Eventually, the US will not be the consumer of last resort for the world not because the country was bankrupted by foreign wars and poor policy but because the american consumer, the middle class, was robbed.
    28 Mar 2011, 10:18 AM Reply Like
  • tweaks
    , contributor
    Comments (180) | Send Message
     
    So, once we have taken all of the poor folks money, let's take all of the rich folks money? Then what?

     

    Did you ever hear "I'd love to change the world" by Ten Years After? A telling lyric.

     

    Tax the rich, feed the poor
    Till there are no rich no more

     

    Also, you must be purposely misunderstanding point two: EVERY PENNY THAT A CORPORATION GETS COMES FROM A CUSTOMER. Thus, every penny in taxes paid comes from a customer - you and me. Unless the corporation is getting billions in corporate welfare, in which case it comes from the taxpayers, which is, again, you and me.....
    28 Mar 2011, 04:29 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    they tried that in england prior to the election of maggie the thatch,
    it was called a tax on capital.
    > jack
    28 Mar 2011, 07:15 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    socialism as advocated by jean jaures was not a bad idea, but as you probably remember he was assassinated in 1914.
    > jack
    28 Mar 2011, 07:19 PM Reply Like
  • wyostocks
    , contributor
    Comments (7628) | Send Message
     
    Oh when, oh when, will liberals ever learn?
    As Margaret Thatcher said, the problem with socialism is that eventually you run out of other peoples money to spend.
    26 Mar 2011, 03:10 PM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    It isn't socialism, or communism. Actually it is a corporate socialism. Corporations run the US. They control the politicians. The politicians no longer represent the people. Some call it fascism.

     

    If it were communism, wyo, then the profits would go to the PARTY. But they go to the private banksters instead. Profits are privatized and losses socialized, like Roubini has said.

     

    So don't give me that Beck/Birch/Teaparty communism argument because, like AFLAC, that is not what we have.
    27 Mar 2011, 10:57 AM Reply Like
  • Gary A
    , contributor
    Comments (3156) | Send Message
     
    BTW, negative votes on this just show ignorance because communism requires a party taking the profits.

     

    Beck won't be right about this, ever.
    27 Mar 2011, 12:54 PM Reply Like
  • Hoopono
    , contributor
    Comments (218) | Send Message
     
    Bravo for Oberhelman. We as a society have to learn the facts of economic life. For decades now we have seen our jobs moved out of state or out of country. Closely related to that has been our decline in our standard of living. Yet many still cling to ideas, long held, but never true that somehow taxing a business is a painless way to support projects or causes that we are unwilling to spend our own money on. Some still believe that the money we raise from taxing business comes from some "magical" source. It always comes from the customers of that business. Always.
    26 Mar 2011, 03:21 PM Reply Like
  • Bear Bait
    , contributor
    Comments (664) | Send Message
     
    Just how much did the taxes go up? 2.2% (to 7%) for 4 years. In 2015 the rates drop with the corporate rate then being 5.25. I can't imagine it being that cost effective to move for 2.2% for four years. Surely the accounting Dept can shift profits from one state to another for four years!
    As for Amazon. That was sales tax not income tax. Bascially if an item ws purchased by an Illinoisan and the business has an "affiliate" in Illinois then sales tax is due on that purchase. Don't blame that law on the people of Illinois. Walmart and other big retailers have been pushing hard for this law for many years. Obviously it gives the online retailers a 7 to 10% price advantage,
    26 Mar 2011, 03:42 PM Reply Like
  • Dawgeatdog
    , contributor
    Comments (83) | Send Message
     
    Taxes rarely ever revert back to lower rates after having been raised to offset current spending. By 2015 Illinois lawmakers will have become accustomed to higher tax rates and will be looking at continuing those higher rates to offset new spending.
    26 Mar 2011, 04:02 PM Reply Like
  • Bear Bait
    , contributor
    Comments (664) | Send Message
     
    This is true; but, they have to vote to extend the rates. I'm not for sure the legislature would vote for this increase again let alone vote to extend the higher rates. I wish everything had something close to this "sunset" provision.
    26 Mar 2011, 05:38 PM Reply Like
  • Lakeaffect
    , contributor
    Comments (973) | Send Message
     
    Illionois politicians slickness is only exceeded by the stupitidy of the residents of Illinois that keep electing those idiots to power.

     

    I have family in Illinois. I watch them get screwed yearly by the political machine there. All of them are so beaten down that they won't even write or call their repsresentatives, and none of them feel that any action they can take will make matters better. They're getting what they deserve.

     

    I hope Cat moves to Texas. The State needs a serious slap in the face to wake them up.
    26 Mar 2011, 08:15 PM Reply Like
  • Ken Solonika
    , contributor
    Comments (165) | Send Message
     
    Texas is a Red Welfare State, just like the rest of the South.

     

    Please secede.
    26 Mar 2011, 10:36 PM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    complete corproate hypocracy.

     

    for example, my north korean clients think north korea is great country because there are no taxes.

     

    really, so republicans would probably consider it a paradise on earth ; a country with no taxes, and a huge slave work force with no legal rights or benefits.

     

    CAT obviously benefits from their location, so they should pay accordingly. If there is fraud/waste/ in IL govt this should be addressed and taxes lowered for everyone, not just politically connected corporations.

     

    Otherwise please feel free to move.
    26 Mar 2011, 03:45 PM Reply Like
  • wyostocks
    , contributor
    Comments (7628) | Send Message
     
    Perhaps you should try North Korea. I read that 25% of the population is starving.
    26 Mar 2011, 03:49 PM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    since i have to explain it to you, my comment about North Korea was IRONIC. Amis literally are handicapped when it comes to humour.

     

    Simply the fact corporations should not be the only entities to benefit from lower taxes, and the fact they are, is grossly unequal and should be stopped.

     

    IL is a disaster, just like CA,NJ,NY,FL,NV,Feds, and you can waste your time talking about who should pay which tax and how much, the real point is the entire govt. sector is grossly incompetent and wasteful.

     

    Once spending is at a sustainable level, then the tax issue becomes relevant and not until then.
    26 Mar 2011, 04:12 PM Reply Like
  • coddy0
    , contributor
    Comments (1182) | Send Message
     
    fxmaven
    for example, my north korean clients think north Korea is great country because there are no taxes.
    ======================...
    Obviously your North Korea clients are retarded even as you are

     

    Know you not North Korea workers are Government's workers.

     

    It comes to Government takes its part first and whatever part left is distributed as pay to Government workers(slaves)

     

    Does their Government needs taxes to be taken, after taxes already were taken
    26 Mar 2011, 04:19 PM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    it's called IRONY. an IRONIC comment.

     

    isn't there any irony left in US, or are there really 600 million eyeballs glued to teenagers playing basketball ????

     

    must be worse than any of the other 4.7 billion people on the earth could ever imagine.
    26 Mar 2011, 04:26 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    Ah, the bamboo hutler dreaming again about having clients...
    Please, save your lies to your comrades.. the rice padders.....

     

    Marxist extremist, if you are going to insult the US, at least learn how to spell correctly the English vocabulary...

     

    Notes:
    It is corporate not corproate....
    It is hypocrisy not hypocracy...
    Etc...........
    26 Mar 2011, 04:33 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    FXMaven,

     

    Sounds to me like you simply just hate everyboby, Public & Private.
    26 Mar 2011, 04:58 PM Reply Like
  • alphaman986
    , contributor
    Comments (7) | Send Message
     
    I don't see what's wrong with this comment. People think that CAT should pay no/very low taxes while benefiting from state provided police, fire dept., education for their workers' kids, etc.?

     

    If they don't like the tax/services package that Illinois provides, then they should be able to move to a state with a more efficient govt, lower taxes, better services...fine.

     

    But if the increased taxes provide better public services rather than going to further govt waste (a separate question in IL entirely, I don't know the answer), then there's nothing wrong with CAT paying its fair share. Taxes aren't bad in and of themselves, it's how they are used that's the real issue.
    26 Mar 2011, 05:30 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    I lived in IL for a couple years - the public services you receive there aren't anything special (try going to an IL DMV - but bring a bag lunch and a deck of cards).

     

    And the property taxes are astronomical! Much like CAT, they taxed us right out of the state.
    26 Mar 2011, 05:41 PM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    the people you bombed and poisoned for 20 years to death and now are getting revenge by permenently stealing all your jobs, and your childrens' future jobs (they will have to get used to working 7 days a week for 5 dollars per day to compete), and will never be able to pay off their student loans.

     

    it's certainly much more of a free market in Asia, and Asia certainly are having the last laugh while US declines into a debt burdened welfare state with massive illegal immigration, high inflation, high taxes, high consumer debt, declining asset values and currency.

     

    26 Mar 2011, 06:04 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    We have a higher 'quality of life' than any Asian country, bar none. I would much rather be 'poor' in the U.S. than in any Asian country.
    26 Mar 2011, 06:24 PM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    oh yes, the glories of being po' folk in the freezing cold with obese ugly women, flat frozen landscape and tasteless food!
    26 Mar 2011, 07:16 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    I remember your prognosis on Sept of 2010 that the SP 500 was ready for a down move to the 600s....how is that working?

     

    How is your SBUX shorts working? You shorted at $29....

     

    You would serve me as the best contrarian indicator....if you show bullish hints, I would short all equities in a heartbeat.....

     

    Notes: Up more than 400%....
    I'm too smart for you......
    26 Mar 2011, 08:41 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    Oh....look at what I found...

     

    FX Maven clearly states..

     

    "950 on the SP 500 by March 31, 2011"..

     

    Link:seekingalpha.com/artic...

     

    Oh boy, you're an idiot.....
    26 Mar 2011, 08:57 PM Reply Like
  • Ken Solonika
    , contributor
    Comments (165) | Send Message
     
    Now do the same comparison with "socialist" Europe.

     

    Or Canada.
    26 Mar 2011, 10:38 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    but the decline you describe will result in much less illegal immigration.
    ?
    > jack
    28 Mar 2011, 07:25 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    well canada didn;t piss away all its national wealth on the illegal unnecessary war in iraq.
    > jack
    28 Mar 2011, 07:28 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    they don't need taxes, north korea floods the world with the highest quality 100$ bills.
    you can't tell them from the real thing.
    > jack
    28 Mar 2011, 07:31 PM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    If the Republican party had its way, US would look something like North Korea, except that the richest 10% would be given total immunity from the law, while unemployed university graduates starve to death waiting for the rich to throw them some scraps.

     

    Check that, that's more the chinese plutocracy than North Korea. Yet equally corrupt and destined for collapse.

     

    Actually, I think the 35% of obese Amis should try the forced labor diet plan, seems to work from what I've seen.
    26 Mar 2011, 03:56 PM Reply Like
  • Dawgeatdog
    , contributor
    Comments (83) | Send Message
     
    Don't be a nitwit. North Korea is all about government run institutions and government employment. Hardly a Republican trademark.
    26 Mar 2011, 04:03 PM Reply Like
  • kcr357
    , contributor
    Comments (557) | Send Message
     
    I'm still waiting for obama and the dems to put some white collars criminals behind bars, should be any day now.....
    26 Mar 2011, 04:22 PM Reply Like
  • Bear Bait
    , contributor
    Comments (664) | Send Message
     
    kcr357 and you really think the republicans would? yeah right.
    26 Mar 2011, 05:44 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    well they very recently sentenced that enron bandwidth guy to 8 yrs of soft labor. no bars, i seem to remember 3 months of house arrest. there was a fine too, possibly as much as 1% of his illegal gains.
    the legal process un that case took 8 yrs to complete.
    > jack
    28 Mar 2011, 07:35 PM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    you guys are funnier than ever, proving yourselves wrong. what then is the entire health care/defense industry/homeland security/welfare complex but a society with mushrooming govt employment and institutions?

     

    the only sector with any job growth at all in US in the last 8 years, and starting with GWB??
    26 Mar 2011, 04:07 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    that's true, homeland security is our largest industrial sector.
    DHS has 88 contractors all doing the same thing & getting in each others' way.
    > jack
    28 Mar 2011, 07:38 PM Reply Like
  • stocknerd
    , contributor
    Comments (1244) | Send Message
     
    Tax are too low for corporations. Pay your share! Boy has business brain washer some crying poor mouth.
    26 Mar 2011, 05:17 PM Reply Like
  • cranmer
    , contributor
    Comments (53) | Send Message
     
    PA should welcome CAT with open arms, especially Western PA. Get on it Gov. Corbett!
    26 Mar 2011, 05:18 PM Reply Like
  • Bruce Whitaker
    , contributor
    Comments (406) | Send Message
     
    Competition makes the world go around, but it also leads to unforeseen circumstances. A recent and highly popular New York Times article discussed in detail the workings of General Electric's tax department and how it enabled GE to avoid taxes in 2010 while making $14.2 billion in profits of which $5.1 billion was made in the US. www.nytimes.com/2011/0...

     

    Not only did GE avoid paying taxes, the company was able to receive $3.2 billion in tax benefits. One wonders if the billions sheltered offshore by GE will ever be repatriated. It's not unreasonable to speculate that a fair share of that loot will be reinvested outside our borders. “Cracking down on offshore profit-shifting by financial companies like G.E. was one of the important achievements of President Reagan’s 1986 Tax Reform Act,” unfortunately Reagan's legacy in this regard has been undone over the years by members of both parties in behalf of corporate interests. Since 2002 GE has eliminated 20% of its domestic workforce while increasing international employment. In other words, GE has cut employment, proportionally pays almost nothing to the US treasury and as a result is one of many corporations who export jobs while increasing the tax burden on the average individual tax payer.

     

    States should compete for jobs, but given continuing loss of jobs to overseas interests, and it seems fair to lump some of our largest US based corporations into this category, a shrinking tax base does not seem to be the answer to our problems. If we continue to shift employment overseas while at the same time encouraging bidding wars between states and local municipalities to give outsized tax breaks to large business interests to attract employment, ultimately few jobs are created while the overall burden for maintaining quality of life is disproportionately shifted to a smaller and smaller base of tax payers. This debate is taking place all over America. Frustrated tax payers feel they are giving more than they get while extreme wealth is increasingly able to get more and give less. Naturally we can, do, and should find and eliminate waste in government, and to reform and level the playing field when it comes to inequities, be it through union, pension, government, and healthcare shinanigans. Not only do we need to hold government responsible for financial mismanagement, but we also need to insure that corporate interests not be able to get away with playing both sides against the middle. We can and should cut waste wherever we find it, but we must also guard against special interests that have wreaked havoc to our financial system in recent years. This should not only include too big to fail banks, but also include corporations and other special interests that by their nature look for advantage wherever they can find it. As we have learned in the past, what is good for GM is not necessarily good for America and what is good for GE or any other multi-national that plays American tax payers as patsies is also not necessarily good for America or stock market investors in the long run.
    26 Mar 2011, 05:20 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    Wisconsin just lowered corporate tax rates. It would be a really short distance move, too.

     

    The poor, down-trodden teachers can then go work for CAT.
    26 Mar 2011, 05:23 PM Reply Like
  • Pathfinder's
    , contributor
    Comments (117) | Send Message
     
    Over the past 15 years, Caterpillar has expanded manufacturing plants into North Carolina, Texas and Indiana, plus Japan and China. New modern plant being buildt in Texas for Excavators and other products. They are a true Global manufacturing Corporation. World Class Product. In this time, Caterpillar has invested in manufacturing technology automation. This has allowed them to reduce labor cost and improve quality. They employ about 9000 in Illinois, this number is about 1/2 of what is was in the 80's. And each year, they improve on this number.
    Along with the state of Illinois income tax increase, the Workman Compensation Insurance and numerous new Fee and Tax requirements have become a major problem for manufacturing companies, in the state of Illinois. Finally, Caterpillar, in Illinois is UAW Labor Union, in all plants. Their plants in Indiana and North Carolina are Non Union, Texas also.

     

    Think the letter from CEO to Illinois Governor (Democrat) is the first signal of their concern and should be taken seriously. Not a public relations stunt.

     

    The Governor of Illinois is a big Union Guy and supports stupid projects like High Speed Rail and Wind Mills. Plus, he remains a "Spender" not a saver of the Taxpayers Money.
    26 Mar 2011, 05:36 PM Reply Like
  • wkl
    , contributor
    Comments (289) | Send Message
     
    Well said, you sound like a citizen of IL as I myself am. Our state has 102 counties, Governor Quinn carried only 2 counties to win. Cook county which includes Chicago, and St. Clair county which includes East St. Louis. Fair representation? That is another issue, but it does go to the heart of Illinois politics when the two most liberal counties out of 102 can elect a governor.
    26 Mar 2011, 06:00 PM Reply Like
  • Pathfinder's
    , contributor
    Comments (117) | Send Message
     
    Sad but true, Cook County and East St. Louis have the votes, and we have George Ryan to remember as a "Republican" . A real arrogant political crook.

     

    There are a number of High Tech Internet companies leaving Illinois for Indiana and Wisconsin, over the Internet Sales Tax Law. Their survival is dependent on companies like Amazon and E-Bay. Plus the Golf Equipment Internet companies.

     

    Not sure what the future will bring for Illinois, Every Border State, Indiana, Wisconsin, Iowa and Kentucky are taking steps to correct their Pension Plans and Spending Programs. If Quinn and the Democrats would raise the income tax and then reduce the spending budget that would be a start.
    But, they have increased the budget by 2-3%, and have not addressed the shortfall on the pensions. 40Billion. Plus, Illinois has one of the highest Gasoline Tax percentages. But, the Highways and Bridges are falling apart.
    Never thought we would leave Chicago, but!!!!!!!!!!!!!
    26 Mar 2011, 06:25 PM Reply Like
  • wkl
    , contributor
    Comments (289) | Send Message
     
    Not only does IL have a 6.25% sales tax, but your Cook county has an additional 4%? on top of that. Ouch! Keep in mind also that Cook & St. Clair county are the 2 biggest takers from the social programs. Illinois is becoming a microcosm of what ails our society. Where the takers, by their numbers, are dictating what the payers give them. Granted, Chicago provides a great deal of wealth to our state that we would not have otherwise have. But East St. Louis?
    26 Mar 2011, 06:56 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    I lived in McHenry county (Island Lake), and I had a job with odd hours (4a - 1p). At least 2 or three mornings, EVERY week, the police who were so not-so-inconspicuously hidden behind the gas station at the corner of our subdivision would tail me half (sometimes more) of the way to my job (16 miles from our home).

     

    Were they my own personal bodyguards, or was that an example of IL tax dollars (time, gas, etc.) hard at work trying to put an additional tax on a law-abiding citizen?

     

    They never pulled me over for anything in 2 years, but really - 2 or 3 times a week? At 3:30 in the morning? Maybe that was their patrol time, I guess....
    26 Mar 2011, 07:29 PM Reply Like
  • Ken Hasner
    , contributor
    Comments (427) | Send Message
     
    Did you have any donuts in the car ?
    26 Mar 2011, 07:46 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    you must have been acting suspiciously.
    > jack
    28 Mar 2011, 07:46 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3586) | Send Message
     
    Obviously. That was my plan - to be a police magnet as I drove to my crappy retail job (it was actually a 'good' job that I miss - and yes, in retail) at ass-early in the morning.

     

    Maybe it was the rear window Bad-Boyz applique of a spiky-haired kid p*ssing on '5-0' that drew their ire....
    28 Mar 2011, 08:11 PM Reply Like
  • Fueled By Randomness
    , contributor
    Comments (290) | Send Message
     
    Caterpillar CEO Doug Oberhelman should just call GE CEO Immelt and ask him how it's done. It might require Caterpillar to buy a few thousand Chevy Volts but it might be worth it (the tax credits, not the cars.) GE might discover a new line of business, selling advice to other corporations on how to fondle congressional prostitutes and buy exciting tax favors. Sure beats making windmills.
    26 Mar 2011, 06:38 PM Reply Like
  • Jason Rines (iThinkBig)
    , contributor
    Comments (2231) | Send Message
     
    We're debating the G.E. tax ratio here: ragingdebate.com/brows...

     

    My opinion is lets tax consumption, not productivity. It is nice to dream that government can conduct micro analysis and policy, but lets face it, that never happens. If one size has to fit all...
    26 Mar 2011, 08:44 PM Reply Like
  • Terry330
    , contributor
    Comments (866) | Send Message
     
    Mexico has low taxes.
    26 Mar 2011, 09:37 PM Reply Like
  • john s. gordon
    , contributor
    Comments (14117) | Send Message
     
    and the local drug gangs murdering themselves & anybody unlucky enough to be standing there.
    > jack
    28 Mar 2011, 07:45 PM Reply Like
  • FreeMarketsNow
    , contributor
    Comments (3) | Send Message
     
    Corporations do what is best for shareholders. They have to choose where they will domicile. What is lost in discussion is, is CAT an American company or a mutlinational? Where does its allegiance lie? That being said, governments should only spend on vital services and reduce overlap and generous pensions. Sadly government stifles people because it is a bureacracy and not a meritocracy.
    26 Mar 2011, 10:49 PM Reply Like
  • FreeMarketsNow
    , contributor
    Comments (3) | Send Message
     
    Most people are foolish anyhow. Look at Connecticut. Gubernatorial candidate Democrat Dan Malloy says, I will raise your taxes to cover deficit spending and not cut spending. People voted him in and now 63% of voters are unhappy with his tax increases. If someone says they will hit you on the head if you give them a bat, why would you still give them a bat? I think Democrats are just the dumbest people on earth, next to pacifist Israelis.
    26 Mar 2011, 10:55 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    Connecticut vs Illinois,

     

    Which sucks more?

     

    www.chicagonow.com/blo...
    27 Mar 2011, 09:40 PM Reply Like
  • firstinsnow
    , contributor
    Comments (480) | Send Message
     
    Caterpillar is welcome in Onondaga and Oswego counties central New York State. Taxes are low here for industry. Major interstate highways criss-cross the area. Oswego is a deep water port on Lake Ontario, perfect for shipping. Power facillities are major and local. CSX railroad is up and running. Housing is reasonalbly priced and available. The men and women who live here are hardy industrious people, that are trained and trainable,ready for a new challange.
    No big city traffic, yet all the amenities are here, including an International airport that never closes down for a few feet of snow.
    This location used to boast, a 12,000+ GE, Carrier Air Conditioning, GM trim plant, Crouse-Hinds [largest traffic light company], New Process Gear [ transmission plant ] and many more industrial facillities.
    We can handle it, check us out.
    28 Mar 2011, 12:15 PM Reply Like
  • wkl
    , contributor
    Comments (289) | Send Message
     
    The key words in your comment. "This location used to boast"
    28 Mar 2011, 07:18 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    WKI,

     

    FirstinSnow's
    area also has that big problem, named; "The Buffalo Bills"
    28 Mar 2011, 08:18 PM Reply Like
  • FreeMarketsNow
    , contributor
    Comments (3) | Send Message
     
    FirstinSnow. Good idea but geographically, most of the lake areas in NYS and Ohio and Michigan have outlived their usefulness. That is why Buffalo, Western NY continues to deteriorate. Have to foster and use education centers or select industries to keep jobs in area. Big cities like Rochester and Buffalo are going to shrink with little reason to grow.
    30 Mar 2011, 08:11 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    WKI,

     

    FirstinSnow says;

     

    "Wont you come into my parlour said the spider to the fly"
    28 Mar 2011, 07:26 PM Reply Like
  • firstinsnow
    , contributor
    Comments (480) | Send Message
     
    Syracuse and Oswego are not large metropolitan areas. They are uncrowded mostly rural less than 10 miles from their centers, hence the great advantage to moving commerce and everyday life.
    The reason we lost so many of these big companies, was the rush to manufacture products in sweatshops in developing countries.
    Our local taxes for companies that manufacture here, are lower than people have been misled to believe.
    Yes, metropolitan New York City is a mess, but we are not NYC, thats 200 + miles from here.
    Yes, we have 'herd' of the Buffalo Bills, but they are way out west of here.
    We have the Syracuse Orange to root for in lacrosse, basketball, football, track, soccer and the rest.
    Oh yeah, I almost forgot, a fantastic supply of clean clear water.
    Maybe thats why Budweiser has one of its largest plants just 3miles from my house.
    29 Mar 2011, 06:49 AM Reply Like
  • spald_fr
    , contributor
    Comments (2705) | Send Message
     
    You probably don't know this yet, fis, but you've lost the Syracuse Symphony. They've eaten through their endowments and now have no funding outside of local government and ticket sales (there are fewer corporate supporters of the arts, as you have stated). The musicians are unionized and they refused to alter the payscale in the face of bankruptcy, which, in this case, represents the self-destructive collectivist mindset potential corporate investors in the Syracuse community fear the most.

     

    I know the area well.
    29 Mar 2011, 08:21 AM Reply Like
  • firstinsnow
    , contributor
    Comments (480) | Send Message
     
    Most of the arts in this area have to be self-sustaining, just like the people who stayed here to make their living.
    The loss of the symphony is regrettable, but like everything else here, we will reinvent another way to replace its void.
    Come on back and show us your stuff, if you got the where with all, we can use another enterprising individual with 'good hands and heart'.
    What we don't need is 'haters' and 'negativity' purveyors.
    29 Mar 2011, 10:57 AM Reply Like
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