Union Picketers Target Middletown's Bank of America

Carrying signs and chanting, “we pay taxes, why don’t you?” about 60 protesters rallied outside Main Street Middletown’s Bank of America branch early Saturday in support of local labor union members who charge the corporation has failed to pay taxes in Connecticut.

“The position is the state employees union wants to make sacrifices when corporate America makes sacrifices,” said demonstrator Eric Brysgel of Newington. “Bank of America is just one. Its headquarters is not in Connecticut, so they can avoid taxes.”

The Connecticut State Employees Association/Service Employees International Union Local 2001 organized the event, which coincided with similar demonstrations in New Haven, Waterbury, Norwich and Bridgeport.

The rally, organizers say, was held in the spirit of “shared sacrifices” called for in Gov. Dannel P. Malloy’s proposed state budget, which includes “major cuts to public services and some increase in taxes to stabilize our state and get our economy moving forward.”

Picketers marched outside the bank, chanting, “We pay taxes, why don’t you?” and carrying handmade signs reading, “With BOA, we’re SOL,” “They take our Gov bailout $$ yet pay no taxes,” “Our state is not your ATM” and “Too big to fail, $60,000,000,000 bailout.”

Bank of America, according to the CSEA/SEIU, by “holding more than $1 of every $5 deposits in the state, is by far Connecticut’s largest bank.”

T.J. Crawford, senior vice president of media relations at Bank of America, countered protesters’ charges that the corporation pays no federal or state taxes.

“Over the last 10 years, Bank of America and Merrill Lynch have paid more than $40 billion in income taxes in the United States,” Crawford explained. “In 2010, our total corporate tax expense was $915 million, with more than a third ($359 million) going to state and local governments. At the federal level, we had a tax benefit in 2010 because we did not have taxable income.” 

At the same time, three laborers were on their knees, setting a railing for a handicapped ramp entrance to the bank, where the protesters gathered. Alex Carrasquillo, who asked several to stand back from the freshly set concrete, was matter-of-fact about the distraction. “You’ve got the right to do what you want to do,” he said.

CSEA/SEIU literature says Bank of America limits job-creating loans to small businesses, drives down home values, and is given tax refunds instead of making tax payments, among other charges.

Bank of America, Crawford says, “extended $92 million in credit to small and medium-sized businesses nationwide in 2010, exceeding our $86 billion goal.”

In Connecticut, he says, BOA awarded two grants — $125,000 to the Community Economic Development Fund and $112,500 to the Connecticut Community Investment Corporation.

Lois Villa came from East Hampton to join protesters. “I’m here as a Connecticut resident. I also believe everybody has a place to do their share in this, but corporations making huge profits have to do their share.”

“In 2010, we made more than $3 million in charitable contributions to nonprofit agencies and organizations making a difference here in Connecticut,” Crawford said.

Steve Krevisky spoke on behalf of the Congress of Connecticut Community Colleges. “We’re being blamed for the problems we didn’t create. Corporate greed created this mess. People are fighting back and this is just he start of it. We’re angry, but in a good way.”

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