The “UK Uncut” anti-austerity activities have brought British banks and stores to a standstill as activists demand that the beneficiaries of government bailouts pay their share of taxes. The success of the actions has inspired American activists to stage their own “US Uncut” measures with the first, targeting Bank of America, set for February 26, 2011. The organizers are recommending that participants watch the British video on how to do a “Bail-In”:
The group explains why BoA is the first U.S. target:
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. That 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. Bank of America is the largest bank and 9th 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%.
We pay our taxes, why don’t they?
On February 26th, citizens across the country will be targeting Bank of America branches and peaceably but forcefully showing them that they can’t get away with such egregious tax-cheating.