Since global income shifting by large US Multinational Corps have had such a devastating effect on US jobs and also on US Federal and State Government coffers, I think it would be wise to perform additional research in order to gather further insights on this issue, which is so critical to turning the horrible US job recession around.
I focused my research here on the large US Multinational Corps, with a substantial foreign presence, which generated Worldwide Pretax Income in excess of $2.5 bil in the most recent year through June 2011 year ends.
I analyzed the 10K SEC filings in the most recent year and also in 2000, the last year of the Clinton Administration.
I found precisely a 52 deck of cards of these US Big Corps, which provided the necessary information on global income shifting.
Amazingly, I found another Mitt Romney-like 100% Flip Flop Situation.
In 2000, these 52 large US Multinational Corps generated 61% of their Total Worldwide Pretax Income (PTI) in the US and 39% in Foreign Countries.
And in 2010, these same 52 large US Multinational Corps generated 39% of their Total Worldwide Pretax Income in the US and 61% in Foreign Countries.
Now that is what I call an absolutely devastating Flip Flop, which has wreaked havoc on the US job situation, on middle class median income, and on US Federal and State Government coffers.
I think this is the kind of research that the brave, perceptive, patriotic Occupying Protesters should use to shape what changes they think should be made to the US economy for it to function more effectively and fairly for everyone.
Below here is the detailed information of the US Pretax Income Percentage Mix in the most recent year and also 10 years earlier. Clearly, this massive Global Income Shift has been a Bush Thing.....occurring predominately all throughout the Bush/Cheney Administration, when there was a widespread laissez-faire environment for huge US Corporations.
And all of the Republicans in the US Senate and US House, as well as all the Republican Presidential Candidates, want to resurrect this "Regulation Free" Big Business Environment? Give me a break! The Occupying Protesters are not going to buy this.
..................2010.......2010....2010 ………..2000.....2000..2000
....................US..........WW.......US ……….....US.........WW......US
....................PTI.........PTI.......Mix ………....PTI........PTI......Mix
.....................(mils of $s)..............................(mils of $s).............
XOM.........7,711.....52,959.....15% ……….9,016....26,772....34%
CVX..........6,528.....32,055....20% ……….5,823....14,049....41%
MSFT........8,862.....28,071....32% ……….9,189.....11,525....80%
JPM........16,568.....24,859....67% ………..5,844......8,733....67%
WMT.......18,398.....23,538....78% ……….9,203....10,116....91%
ConPhil.....6,214.....19,750....31% ……….2,041......3,748....54%
IBM..........9,140.....19,723....46% ………..5,914......11,411....52%
Apple.......5,540.....18,540....30% ………......73.......1,092......7%
AIG........13,208.....17,767....74% ……….6,471.....10,023....65%
JNJ..........6,392.....16,947....38% ……….3,892.......6,868....57%
Intel.......13,926.....16,045....87% ……….11,162.....15,141....74%
PG............8,983.....15,189....59% ………..3,340.......4,616....72%
GE............5,078....14,208....36% ………12,900.....18,446....70%
Citi..............884.....13,184......7% ………12,497.....19,297....65%
GSachs.....7,348.....12,892....57% ………..2,845.......5,020....57%
ORCL.......6,378......11,411....56% ………..2,661.......3,971....67%
HP...........4,027.....10,974....37% ………..1,547.......4,625....33%
GOOG(1)...4,948.....10,796....46% ………....185...........185..100%
Pfizer(2).(2,477)......9,422...(26)% ………4,233.......8,724....49%
CSCO........1,102.......9,415....12% ………...2,544.......4,343....59%
Coke........2,246.......9,265....24% ………..1,497.......3,399....44%
Pepsi.......4,008.......8,232....49% ………..2,574.......3,761....68%
OXY.........3,295.......7,359....45% ………...1,511.......2,991....51%
Ford........4,361.......7,149....61% ………...9,394.......8,390...112%
MCD.........2,763......7,000....39% ………...1,281.......2,882....44%
UntdTech.2,655.......6,538....41% ………...1,511.......2,758....55%
Lilly(3).....2,936.......6,525....45% ………..2,161.......3,859....56%
MorgStan.3,550.......6,202....57% ………..6,361.......8,554....74%
BMY.........3,833.......6,071....63% ………...2,474.......5,247....47%
3M...........2,778.......5,755....48% ………..1,798.......2,974....60%
GM...........2,648.......5,737....46% ………...3,019.......7,164....42%
ABT...........(275)......5,713....(5)% ………..2,773.......3,816....73%
Amgen.....2,217.......5,317....42% ………...1,674.......1,674..100%
Apache....1,328.......5,206....26% ………......654.......1,204....54%
SLB.............638.......5,156....12% ………........48..........937......5%
Mar Oil........559.......5,122....11% ………......659..........896....74%
TXInstr....3,769.......4,551....83% ………...3,944.......4,578....86%
Corning.......975.......3,845....25% ………......692..........621..111%
CAT............778.......3,750....21% ………...1,083.......1,528....71%
MDT.........1,447.......3,723....39% ………..1,062.......1,549....69%
DuPont.......949........3,711....26% ………..1,544.......3,447....45%
Kraft........1,071.......3,642....29% ………...2,188.......3,415....64%
Colgate....1,252.......3,430....37% ………......483.......1,567....31%
Dell............550.......3,350....16% ………....2,451.......3,194....77%
Deere......2,048.......3,025....68% ………......504..........778....65%
Emerson.1,303.......2,879....45% ………....1,615.......2,178....74%
Nike........1,084.......2,844....38% ……….......471..........921....51%
HON........1,249.......2,843....44% ………...1,842.......2,398....77%
DowChem.(821)......2,802...(29)% ……….....861......2,586....33%
HAL........1,918.......2,655....72% ……….......128..........335....38%
EMC.......1,408.......2,608....54% ……….....1,562.......2,441....64%
KMB.......1,609.......2,550....63%……….....1,788.......2,436....73%
Total..208,887...532,300...39% ………172,987...283,183....61%
(1) Google early year information is for 2002.
(2) Pfizer 2000 PTI excludes large Merger-Related Costs.
(3) Eli Lilly US PTI includes Puerto Rico tax haven.
Below here are the Corporate names related to the above 52 Corporate abbreviations.
3M 3M
ABT Abbott Labs
AIG AIG
Amgen Amgen
Apache Apache
Apple Apple
BMY Bristol Myers Squibb
CAT Caterpillar
Citi Citigroup
Coke Coca Cola
Colgate Colgate Palmolive
ConPhil ConocoPhillips
Corning Corning
CSCO Cisco Systems
CVX Chevron
Deere Deere
Dell Dell
DowChem Dow Chemical
DuPont DuPont
EMC EMC
Emerson Emerson Electric
Ford Ford
GE GE
GM GM
GOOG Google
GSachs Goldman Sachs
HAL Halliburton
HON Honeywell
HP HP
IBM IBM
Intel Intel
JNJ JNJ
JPM JPMorganChase
KMB Kimberly Clark
Kraft Kraft Foods
Lilly Eli Lilly
Mar Oil Marathon Oil
MCD McDonalds
MDT Medtronicr)
MorgStan Morgan Stanley
MSFT Microsoft
Nike Nike
ORCL Oracle
OXY Occidental Petroleum
Pepsi PepsiCo
Pfizer Pfizer
PG Procter&Gamble
SLB Schlumberger
TXInstr Texas Instruments
UntdTech United Technologies
WMT Walmart
XOM Exxon Mobil
