Tax Day Protests Target US Corporations
Tuesday, April 17, 2012 - 01:35 PM
About 100 protesters gathered outside Foley Post Office in Midtown Manhattan on tax day to rally against U.S corporations, which they claim do not pay their fair share of taxes.
Edgar Andrade, owner of a small business in Bushwick who attended the rally, said it is not right that U.S. corporations abuse tax shelters and loopholes. "The people at these companies are paying less taxes than I'm paying or you're paying," he said.
"If Bank of America wants to put the United States flag outside their building they should put the money back and stop putting their money outside the United States," he added, noting that he had also struggled to obtain loans from corporate banks to help his small business grow.
Some of the protesters later dressed in baseball uniforms and marched down 5th Avenue as “Tax Dodgers,” stopping in front of corporate headquarters of large businesses such as General Electric and Paulson & Co., a hedge fund investment firm.
Many of those gathered said the tax onus is unfairly placed on U.S. citizens.
But critics say the U.S. has the second highest corporate tax rate in the world and it is driving away business.
On Thursday, the House plans to vote on a bill that would provide a 20 percent tax deduction to all businesses with fewer than 500 workers. Republicans say it will spur job creation, but Democrats note that businesses don’t have to hire new employees to get the deduction.
Earlier this week, Senate Republicans killed the “Buffet Rule” bill that would ensured that everyone earning $1 million a year or more pay at least 30 percent of their income in taxes.
With the Associated Press