If Banks Paid Their Full Taxes, We Could Rehire All 130,000 Teachers Laid Off During The Recession

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Asking corporations to pay more, what a unique idea during the deficit talks...

Corporate lobbyists have a terrible idea they’re pushing during the budget debates. They want to lower the corporate tax rate while also cutting benefits for Social Security and Medicare beneficiaries. Most Republicans and an unfortunately significant number of Democrats have endorsed this bad idea.

But what if instead we asked corporations that are dodging taxes to actually simply pay the statutory rates asked of them?

In the spring of 2011, National People’s Action and the Public Accountability Initiative put out a report looking at tax dodging by the nation’s biggest banks. It found, shockingly, that if these big banks simply paid the rates that were asked of them — much as many Americans pay their tax rates without exploiting excessive deductions and loopholes — we could re-hire all 132,000 teachers laid off during the recession for another year of teaching — twice:

Read more: http://boldprogressives.org/if-banks-paid-their-full-taxes-we-could-re-hire-all-130000-teachers-laid-off-during-the-recession/

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