by Nate Jackson
Your taxes should be based on how much you earn — it’s only fair. So why are there 30 big corporations who make big profits but haven’t paid their fair share for years? Could it have something to do with the millions they invest in lobbyists who push for special tax benefits?
Wells Fargo Bank is the worst corporate tax evader in the Dirty Thirty, and it’s time they paid their fair share. That’s why on Tuesday, January 31st we’re having a rally and march to the bank.
Since the big banks got bailed out in 2008, Wells Fargo has spent nearly $14 Million on a lobbying effort that has bought them an effective Federal income rate of 0%. In fact, they managed to get a $681 million Federal income tax refund on their $50 billion profit.
It’s the same story for the rest of the Dirty Thirty. These giant corporations, including General Electric, FedEx, and a slew of energy firms, have gamed the system to avoid paying their fair share. Basically, they’ve paid out millions in lobbying fees to evade billions in taxes.
It’s a good investment for them, but a disaster for us. All together they’ve sidestepped $200 billion in Federal Taxes. If these big corporations would pay their fair share, we’d have the resources we need to invest in our schools, rebuild our infrastructure, and secure a better future for our communities.
Join us on Tuesday, January 31st at 12 noon to tell Wells Fargo it’s time for them to pay their fair share. We’ll rally at Westlake Park and then march to the big bank and tell them with all our voices that we’ve had enough of their paying lobbyists to win special tax benefits from our elected officials.