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Registered: 01-2012
Posts: 3302
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The 1 percent wins again.


Oreo cookies! America loves Oreos! It appears Oreos does not love America as much.

Oreos has four plants in the U.S. The main plant is in Chicago. Been there for 100 years turning out Oreos.

Nabisco owns Oreos. The corporate conglomerate owning Nabisco is called Mondelez.

Nabisco recently announced that Oreo was moving 600 jobs from the Chicago plant to a new one in Mexico. Some jobs would remain in Chicago.

Reasons given include it would be cheaper to build a new plant in Mexico than remodel the Chicago plant at a cost of $130 million. The other reason is taxes. Corporate taxes are too high in the U.S.

The tax argument fails.

Although the corporate tax rate is 35 percent, Mondolez paid only 13.5 percent in 2014. 2013 was even better. They only paid 2.5 percent.

Six hundred men and women will be out of jobs. The corporation bullshits the public with the tax issue. No one challenges the corporation. The 1 percent wins again.

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3/24/2016, 3:28 pm Link to this post Email CT Bookworm   PM CT Bookworm Blog
 


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