Mondelez a Multi-National Conglomerate
After explaining over 600 U.S. layoffs as due to automation, NOT Out-Sourcing, or Off-Shoring, USA Today reports, "That Nabisco, a subsidiary of Mondelez, paid a worldwide tax rate of 7.5 percent last year. This is well below the United States’s statutory 35 percent corporate tax rate and also substantially below Mexico’s 30 percent rate. If Mondelez is avoiding taxes through its foreign activities, it is more likely that the company’s subsidiaries in the Bahamas and the Netherlands are responsible.
"Call It a Double Whammy
"While losing 600 jobs would deal a body blow to Chicago working families, the $6 billion of profits that Mondelez moved offshore in just the last year (and the needed tax contributions it is able to avoid because of this action) represent yet another way the company is harming working families.
"Mondelez now has a total of $19.2 billion in “permanently reinvested” offshore profits, but the company refuses to disclose how much of those profits are being held in tax havens or whether any foreign tax has been paid on these billions of dollars in profits." (http://www.taxjusticeblog.org/archive/2016/03/double_stuff_oreos_double_wham.php#.Vu2WmeIrKUn)
THIS is yet another example of how Multi-National Corporations, which started here, can so easily turn their back on America and the American workers who built those companies.
AND it's becoming a political football for everyone! (http://money.cnn.com/2016/03/11/news/companies/oreo-trump-clinton/)
No comments:
Post a Comment