Sat Aug 11, 2012, 04:08 PM
xchrom (90,555 posts)
Caterpillar CEO Oberhelman To Campaign On U.S. Government Debt
Caterpillar Inc. (CAT) Chief Executive Officer Doug Oberhelman said he will campaign later this year for a cut in U.S. government debt because the issue affects customers of the largest maker of construction and mining machinery.
“It’s starting to hold us back,” Oberhelman said in an interview yesterday with Bloomberg Television’s “Street Smart” at the company’s demonstration and learning center in Edwards, Illinois. “For the contractor base and customers in this country, it’s worrisome. It has a chill in the air.”
Customers of Caterpillar are “scared to death” that tax rates will rise as public expenditure stalls, he said. Higher taxes and cuts in spending on government programs amounting to $607 billion as measured by the Congressional Budget Office will take effect at year-end without congressional action.
The looming so-called fiscal cliff is “holding back our customer base in the United States more than it is us,” Oberhelman said.
Oberhelman is a member of the Campaign to Fix the Debt, said Jim Dugan, a spokesman for Peoria, Illinois-based Caterpillar. The organization is a bipartisan group of former lawmakers, business leaders and budget experts that also includes former World Bank President Robert Zoellick and Honeywell CEO David Cote.
***TAX THE FUCK OUT OF THE RICH***i mean, if you're seriously going to 'campaign on the debt.
other wise -- you're another rich wanker wanting something for your self while taking from me.
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Caterpillar CEO Oberhelman To Campaign On U.S. Government Debt (Original post)
Response to xchrom (Original post)
Sun Aug 12, 2012, 01:30 AM
Monk06 (5,606 posts)
5. Put a 20% capital gain tax on the derivative market and the debt is gone in ten years.
And that would not have the slightest detrimental effect on brick and mortar manufacturers like Caterpillar.
BTW Caterpillar was near bankrupts in 2003 and not only survived but prospered during the mining bubble between 2003 and 2008 when the mortgage collapse killed the stock markets. They have no economic reason at all to complain about the national debt. They are not going to put a cent toward bringing it down.
People have to realize that corporations have no country and hence no national allegiance. If costs get to high for Caterpillar they'll move to China or sell off to Hyundai Heavy Industries.