On Uncut's International Day of Action on March 26, Philadelphia Uncut will be protesting at the intersection of 10th and Chestnut street at Noon, outside of the Bank of America and FedEx locations there. Before the protest, we will meet together at the Marathon Grill, located at 10th and Walnut Street, at 11:00 AM.
Despite ruining the economy with their reckless greed, Bank of America has consistently avoided any form of accountability to the American taxpayer. In fact, in 2009, Bank of America actually received a net tax benefit. Yes, last year, the federal government gave Bank of America $2.3 billion. JUST HALF OF THAT MONEY could pay for every cut Governor Tom Corbett has proposed to the Pennsylvania State Budget, and every proposed cut to Basic Education could be paid for with LESS THAN A THIRD of the benefit. Bank of America is the largest bank and 5th largest corporation in the country, holding over $2.2 trillion in assets, and yet it 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%.
FedEx has twenty-one subsidiaries in jurisdictions listed as tax havens (Antigua, Bahamas, Barbados, Bermuda, three in the Cayman Islands, Costa Rica, Grenada, two in Hong Kong, three in Ireland, two in Netherland Antilles, Singapore, St. Kitts, St. Lucia, Turks and Caicos Islands and the US Virgin Islands). Such revenue sheltering practices place FedEx in the big leagues of corporate scam artists. It also classifies its employees as "independent contractors," allowing it to dodge Social Security, Medicare, and Unemployment Insurance taxes, which the IRS estimates allows it to evade hundreds of millions of dollars in taxes each year.
Come out and be part of the Global Resistance to Global Corporate Malfeasance. If you have any questions, feel free to email us at USUncutPhilly@gmail.com