US Uncut: Protest Against Bank of America
Novi, MI - Saturday, February 26, 2011
US Uncut, an organization that is taking action against what they view as unnecessary and unfair cuts to public services across the US, today, launched a nationwide protest targeting Bank of America branches to protest against what they claim is BOA's tax-cheating.
The group reports that, in 2009, Bank of America actually received a net tax benefit. According to US Uncut, last year, the federal government gave Bank of America $2.3 billion. They say that the money alone could almost completely cover the proposed $2.5 billion cuts to the Low Income Home Energy Assistance Program (LIHEAP), which helps low-income families pay their heating and cooling bills and affects 34 million households. They also assert, Bank of America is the largest bank and 5th largest corporation in the country, holding over $2.2 trillion in assets, and yet pays less in taxes than the average American household, which made between $35,400 and $52,100 and had an effective tax rate of 14.2%.
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