Published on Apr 6, 2014
PROVIDED BY CNNNEXT.COM
"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:
thehill.com/blogs/on-the-money/domestic-taxes/202200-caterpillar-avoided-24b-in-taxes-charges-sen-levin
