Thursday, March 31, 2011

Two-Thirds of US Corporations Pay Zero Federal Taxes: US Uncut Movement Builds to Make Them Pay Up

“I’m tired of people calling for shared sacrifice and it’s all coming from the workers and nothing’s coming from the top,” says protester Dave Sonenberg. “I’m sick of companies like Bank of America not paying their taxes.”

Bank of America hasn’t paid a nickel in federal income taxes for the past two years, and in fact raked in an additional $1 billion in tax “benefits.” The bank is enjoying these profits after accepting $45 billion from taxpayers, which the company then got to count as a deduction when they paid back the money.

Big corporations get to play by a whole different set of rules, says tax expert Bob Willens of New York-based Robert Willens LLC.'


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