True son: The BIG companies went to the government and got exceptions or credits to offset the tax hikes. So they are not paying the full load of taxes.
I remember Cat threating to leave if they did not get the state to back off of them.
Here is excerpt of one article about theses tax credits.
"Deere & Co., Boeing Co. and Caterpillar Inc., whose leader severely criticized lawmakers for tax hikes, were among dozens of companies that received more robust tax breaks. Some companies' deals also allowed them to be in line to receive tax incentives even while laying off workers or lowering wages.
The EDGE program allows a business to claim a credit against its corporate income tax liability if it agrees to create and/or retain jobs and make an investment in the state of at least $1 million, for companies with fewer than 100 workers, and at least $5 million for larger companies.
Once accepted into the program, which typically lasts 10 years, a company applies on an annual basis for a tax credit certificate, similar to a voucher, which it can claim when it files its taxes."
The link below is to the full article.
The trouble is the smaller companies and individual owned business do not get these tax credits. This is the trouble. The government is stacking the deck against the smaller business guys.
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