MIAMI (CBS4) – On the day taxes are due; there’s been an outcry for fairness.
Across Florida and the nation, protesters are marching in front of mega companies they call, “The Deadbeat Dozen.”
“Everybody should pay their fair share,” said Connie Lynd from Moveon.org. “I pay my fair share, how come they can get tax loopholes?”
Across Florida, Bank of America is one of the targets. Protestors said they’re paying nothing in state taxes, and a fraction in federal tax – leaving the rest of us to pick up the tab.
“They’re supposed to pay 35%, bank of America paid 0,” claimed Niomi Devereux from Fight Back Florida. “If you look at this chart, aside from having 115 off shore accounts, they would have been paying billions if they paid properly.
Bank of America says that’s not true. Spokeswoman Christina Beyer released the following statement…
- Bank of America takes its role as a corporate citizen very seriously and pays taxes when taxes are owed. In fact, over the last 10 years, no U.S. company has paid more taxes than Bank of America.
- Our tax payments extend far beyond federal income taxes to include state and local taxes, payroll taxes, property taxes, sales and use taxes, and other taxes. In fact, over the last 10 years, Bank of America and its legacy companies have paid more than $60 billion in taxes. These taxes, which are included in our operating expenses, are a significant source of funding for U.S. federal, state and local and foreign governments.
- Bank of America is also responding aggressively to help meet the needs of communities across the country. Our community support includes loans, investments and philanthropic giving to companies and nonprofits serving low- and moderate-income and minority communities. Last year we extended nearly $52 billion in loans, investments and grants to companies, nonprofits, government entities and anchor institutions, such as hospitals and schools that play a vital role in the health of our communities.
Today’s rallies are directed at lawmakers in Tallahassee and Washington.
Right now, Governor Rick Scott is pushing to phase out corporate taxes in Florida. In Washington, conservatives want to extend tax breaks to everyone, including the wealthy.
The idea is if companies and people have more money to spend; that will lead to jobs and a bigger tax base.
Protestors said history shows that is a flawed plan.
“Whenever they took care of the big boys,” said Devereux, “it did not create the jobs. If you look at graphs, it just didn’t happen.”