Protest movement aimed at protecting the poor and middle class is in the works. Cities around the country are preparing for a February 26 Day of Action, “targeting corporate tax dodgers.”
Corporations are beneficiaries of billions in taxpayer dollars under the Troubled Asset Relief Program. Morgan Stanley boasts 273 subsidiaries in tax havens, with 158 in the Cayman Islands alone. Citigroup's got 427, with 90 in the Cayman Islands, and 59 of Bank of America's tax-haven subsidiaries are there as well.
The GAO found 18,857 businesses are registered at just one address in the Cayman Islands -- the "Ugland House."
Obama has directly referred to Ugland House as the "biggest building in the world... or the biggest tax scam in the world"
The report said that "Ugland House registered entities included investment funds, structured-finance vehicles, and entities associated with other corporate activities."
Why should the government not eliminate these 'scams,' and collect from corporations and the outrageously wealthy those monies they're now 'avoiding' paying in taxes... then lets just see how much of a 'shortfall' we wind up with.
An American Uprising? From Wisconsin to US Uncut by Sarah van Gelder
