Bank of America paid no taxes in 2009 and likely will not pay any this year, either. How did they manage to pay no taxes while making billions in profit? Because of tax deductions, loopholes and offshore tax havens, Bank of America probably won’t be paying taxes for a long time.
We pay our taxes; why doesn’t Bank of America?
If corporations profit here, shouldn’t they pay here?
Bank of America is just the tip of the iceberg. Nearly two-thirds of U.S. companies and 68% of foreign corporations do not pay federal income taxes, according to a report released by the Government Accountability Office—despite having a combined annual $2.5 trillion in revenue.
While corporations are now enjoying record profits cuts to critical programs are being made by Congress. If corporations paid their taxes rather than using abusive tax loopholes and offshore tax havens, many fewer cuts would be necessary.
This Saturday, February 26th, US Uncut will stage protests at Bank of America branches across the country to draw attention to the fact that despite ruining the economy with their reckless greed, Bank of America has consistently avoided any form of accountability to the American taxpayer