Hey, there! Log in / Register
'Tax Evasion 101; lecture by Prof. John Miller at Bank of America on Tremont Street, Sat., March 12
By Anonymous on Mon, 03/14/2011 - 12:08am
]Bank of America, the largest bank in the US, pockets Billions in profits and bailouts but pays $0 in American taxes. If Bank of America and the 2/3 of US corporations that pay NO taxes here would pay up, just like everyone else, America would not need to cut $100 Billion in college grants. If this one company pays a tax bill, millions of kids could go to college.
The solution is simple: make them pay their fair share so we don’t need to cut this valuable public service.
On Saturday March 12, Professor John Miller gave a lecture on this topic at the Bank of America branch on Tremont Street in the South End and recorded a video for your edification and viewing pleasure.
This was the second event the Boston chapter of US uncut conducted. The first one was Saturday, February 26 in Cambridge.
Follow @USuncutBOS on twitter.
Neighborhoods:
Topics:
Ad:
Support Universal Hub
Help keep Universal Hub going. If you like what we're up to and want to help out, please consider a (completely non-deductible) contribution.
Comments
Video of other actions taken
Video of other actions taken by US Uncut.
What an awful idea. Those
What an awful idea.
Those pesky socialist, communist, leftist non-profits (churches, schools, "community" organizations) should be forced to pay their fair share before we burden business with these over-reaching and unconstitutional financial obligations.
Why destroy the profit of job-generators when we don't expect the groups that knit together our social fabric to contribute to society!??!?
TERRIBLE JOB.
::giggles::
Bank of America broke tax laws?
They're paying $0 for a reason, right? If the laws are written for them to pay $0, that's on lawmakers, not on the payer.
They probably could do more.
But I'm thinking: If you make them pay taxes, interest rates on loans for the small guys are just going to increase. Cut taxes on these banks, and the rates are lower and more competetive. As long as the BOA billionares are paying income taxes, things can wash out.
Nope
We've tried the whole "cut corporate taxes and they'll make it easier for the rest of us and keep their profit margin at the same place, right?" approach. 10...20...30 years of it now.
If you cut their taxes, all they do is pocket more profit and keep everything else at the same place. Then when times get tougher, they cry that they can't compete and ask for more tax breaks. Not once has the economy benefited the little guy since the 70's.
my rant
The reason they don't pay taxes is becuase they hire lots of highly paid lobbyists who successfully lobby US Congressmen and US Senators to carve out loopholes in the tax code that benefit their businesses.
Lobbyists are a great investment for business and their work has distorted the tax code beyond any semblance of economic justice.
Our own representatives do this! Why does the GOP budget that passed the house HR1 include a $40 billion dollar Corporate Welfare payment to ExxonMobil? (They don't need it: they are the most profitable company in the history of the world.) Because a majority of congressmen in the House of Representative voted to do it(Republicans.)
Corporations hire lobbyists. Individuals like you and me don't. The number of lobbyists in DC have soared.
Take for example, Scott Brown. As a US Senator he had the solitary influence to derail the Wall Street Reform Act, (the power the senate gives a single US Senator by rule is another issue for another time but) he used his power to shift the $19,000,000,000 Billion Dollar cost of regulating investment instruments like CDOs from Wall Street to US taxpayers. This is the guy who ran on 'our taxes are too high'. Now we know what's more important to Scott Brown, saving Wall St $19 Billion or keeping our taxes low. It is common for the industry to bear the cost of its own regulation.
One such loophole is when large multinational corporations use off-shore tax havens to shelter their US income. That's what Bank of America does.
If we can pressure US corporations to pay their fair share, we can eliminate the draconian cuts Republicans are making to spending on programs that help our own people.
Half of every Federal tax dollar spent, is spent on military. It's unbelievably excessive. We spend more than the rest of the world combined on defense. Less war. More education, more social security, more health care. More basic research.
Who upsets that apple cart?
Why would the lawmakers change the laws to increase the payer's tax load if the $0 tax payer is the one bankrolling the lawmaker?
Someone has to be the one to upset that apple cart and it's clearly not the payer nor the lawmaker in that scenario.
Because trust fund anarchists
Because trust fund anarchists and academic communists really know how to run an economy...................into the ground!
Of course the same could be said for the ivy league graduates in powerful management positions. But most of them are either former trust fund anarchists at some point or were 'educated' by unapologetic academic communists anyway.
Those dirty hippie chicks put out like the Discovery Channel, can't really blame them.
Really?
Looks to me like a TRUST FUND POLITICIAN, who was repeatedly bailed out of his failed business ventures by Saudi Arabians currying favor with his father, did a darn good job running up the national debt with adventure wars and letting friends loot the treasury on no-bid contracts.
The power elite... there is a
The power elite... there is a little overlap, but it's mostly a separate career track from the college trustafarians.
Define "Professor"
I don't have the patience to watch this with the sound on. Exactly where is this guy a "Perfessor"?
And, I guess I'm not clear on the obvious(?) joke. They did a "sit-in"? Meaning, they were trespassing?
God, where is my pepper spray?
Pepper spray requires a gun
Pepper spray requires a gun permit in this state. Because some asshole bouncer once assaulted a patron with the stuff every would be rapist now has free reign to attack unarmed women. Unintended consequence of regulation.
Too lazy to watch a video?
Too lazy to watch a video? You're might me too lazy to do your own google. Looks like UHub has its own trolls.
The Boston teach-in Mar 12 is
The Boston teach-in Mar 12 is featured on the front page of US uncut: http://www.usuncut.org/