Jail the Tax Cheats

ThinkProgress » If Banks Paid Their Full Taxes, We Could Rehire All 132,000 Teachers Laid Off During The Recession — Twice

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.

ThinkProgress » If Banks Paid Their Full Taxes, We Could Rehire All 132,000 Teachers Laid Off During The Recession — Twice