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Press Release: Americans Target Bank of America to Stop Corporate Tax Dodging

Posted on Mon Feb 28th 2011, 5:13am UTC

For Immediate Release:
February 28, 2011

Contacts:

Blair Fitzgibbon 202-503-6141, blair@fitzgibbonmedia.com

Carl Gibson 601-454-6443, usuncut@gmail.com

Joanne Gifford 707-758-1699, worksalot2@me.com

Ryan Clayton 202-656-2116, uncutclayton@gmail.com

Marco Ceglie 718-483-6616, marco@marcoceglie.com

Americans Target Bank of America to Stop Corporate Tax Dodging

New Nationwide Movement Begins with Thriving Protests in 50 American Cities


2 Bank of America Branches Shut-Down in DC & California


Groups of citizens in more than 50 cities protested inside and outside Bank of America branches this weekend in an effort to get corporate tax dodgers to pay their fair share. These actions are affiliated with US Uncut, a new grassroots movement organized through social media networks such as Twitter and Facebook. Saturday’s protests were held in concert with similar actions that took place across the United Kingdom, organized by the group UK Uncut.

“In DC, we turned a Bank of America lobby into a classroom for a day, because when they don’t pay their taxes, valuable public services like schools and libraries get shut-down,” said George Taghi, an organizer for the US Uncut DC ‘teach-in’ protest. “If they’re not going to pay their fair share of taxes, then maybe we’ll just turn their corporate storefronts into our classrooms because we won’t be able to fund our schools and libraries anymore.”

Bank of America, the largest bank and 5th largest corporation in America is reported to have paid zero federal income tax in 2009, funneling its income through 115 foreign tax-haven subsidiaries. US Uncut stresses that the February 26th protests were only the kickoff for many more nationwide actions that will target Bank of America and others.

In over 50 cities across the country, Americans showed up on the doorstep of Bank of America to demand they pay their fair share in taxes before we cut valuable public services. As a wildly successful first day of action, local organizers are already posting the next events to target Bank of America on www.USuncut.org.

“I got a call from the Marketing Department of Bank of America,” said Gibson, “I wonder what they want to talk about. Maybe some jobs have recently opened up there in that department.”

"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."

US Uncut calls for an end to corporate tax avoidance instead of cuts to valuable public services. Anger is rising as Americans are being forced to endure brutal budget cuts at both the federal and state-level. Recent events in Wisconsin have inspired hard-working Americans to make their voices heard, and this populist message is spreading like wildfire across the country.

"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 stop the $100 billion in cuts to college loans too."

For more information, including protest pictures and videos, please visit www.USuncut.org

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