TWICE
http://thinkprogress.org/2011/03/07/if-banks-paid-taxes/-snip-
In one particularly shocking statistic, the report notes that the six biggest banks in the United States together paid “income tax at an approximate rate of 11″ percent in 2009 and 2010. If they had paid 35 percent, which is the legally mandated rate without loopholes, the federal government would have received “$13 billion in tax revenue” — a sum which would cover the salaries, for two years, of every single one of the 132,000 teachers laid off since the beginning of the economic recession:
Six banks – Bank of America, Wells Fargo, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley together paid income tax at an approximate rate of 11% of their pre-tax US earnings in 2009 and 2010. Had they paid at 35%, what they are legally mandated to pay, the federal government would have received an additional $13 billion in tax revenue. This would cover more than two years of salaries for the 132,000 teacher jobs lost since the economic crisis began in 2008.
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In addition to shutting down a local Bank of America branch, Make Wall Street Pay protesters also demonstrated outside the convention of the National Association of Attorneys General, demanding action on the foreclosure crisis. They also flooded the offices of Minority Leader Mitch McConnell (R-KY) and House Speaker John Boehner (R-OH), demanding that both support policies that would make big Wall Street banks like Goldman Sachs and Citigroup pay their fair share before attacking investments and crucial services in Main Street America.
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Update Scores of protesters flooded Boehner's office, telling him they "found the money" we need to tackle our debt without laying off teachers and gutting crucial services:
there is a pic
Update The protesters also encamped outside McConnell's office: and another pic
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