New Nationwide Effort to Make Corporate Tax Dodgers Pay Up
Protests in more than 50 cities, including Washington, D.C., New York City, Los Angeles, and Chicago
Groups of citizens in more than 50 cities will sit-in and protest at Bank of America branches on Saturday, February 26 in an effort to get corporate tax dodgers to pay their fair share. The actions are loosely affiliated with US Uncut, a new grassroots movement organized through social media networks such as Twitter and Facebook.
WHAT: Sit-in protests at Bank of America branches
WHEN: Saturday, February 26
WHERE: Bank of America branches in cities across the country – www.USuncut.org/actions
WHO: Groups of people who self-organized events using – www.USuncut.org
Anger is rising as Americans are being forced to endure brutal budget cuts at both the federal and state-level. Recent events in Wisconsin represent the need for hard-working Americans to make their voices heard and demand an end to unfair measures. US Uncut instead calls for an end to corporate tax avoidance.
“The $3 in my wallet is more than ExxonMobil, GE and Bank of America paid in taxes last year, combined,” said Carl Gibson, founder of US Uncut Mississippi. “There’s a direct connection between corporate tax dodging and what’s happening to real people’s lives. Because of overseas tax havens and other tax loopholes, US corporations are making profits in America but barely paying taxes here. If we close those loopholes, we wouldn’t have to be cutting back on firefighters, library hours and student loans.”
Gibson, a 23-year-old resident of Jackson, Miss., was moved to start his chapter two weeks ago after learning about corporate America’s unpaid tax bills and how a similar movement, UK Uncut, has swept across England and successfully brought tax dodgers to justice through sit-ins at stores and bank branches. “I work 3 jobs and can barely cover my $450 per-month rent,” Gibson said. “But I still pay my taxes. All I’m asking is that the wealthiest corporations pay what they owe, too.”
“If Bank of America alone paid their taxes, we could ‘uncut’ $1.7 billion in early childhood education,” said Ryan Clayton, a DC-based media analyst, “Big corporations dodge up to $100 billion every year, and if they paid their taxes this year like the rest of us do, we could also stop the $100 billion in cuts to college loans.” [see sources below]
“These cuts are unnecessary. The money is there.” said Joanne Gifford a self-described soccer mom from Napa Valley, Calif. who will be paying a visit to her local Bank of America branch on Saturday. “We The People just have to make sure that these tax-dodging corporations pay up.”
For more information, please visit http://USuncut.org
For time & locations of all the actions: http://USuncut.org/actions
Study says most corporations pay no U.S. income taxes
Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005.
More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said.
During that time corporate sales in the United States totaled $2.5 trillion, according to Democratic Sens. Carl Levin of Michigan and Byron Dorgan of North Dakota, who requested the GAO study.
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