Monday, March 28, 2011

2/3rds of US Corporations Pay Zero Federal Taxes: US Uncut Movement Builds to Make Them Pay Up

From coast-to-coast, more than 40 cities joined in a day of action protesting the tax-dodging practices of massive corporations that they see as the real source of the country’s deficit.

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.

2/3rds of US Corporations Pay Zero Federal Taxes: US Uncut Movement Builds to Make Them Pay Up | Economy | AlterNet

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