Kanye-inspired “Gold Diggers" remix hits Bank of America's "Fix the Debt" campaign for tax scheme

You may have seen their ads on TV or been accosted by a Fix the Debt canvasser on the street – they claim to be a grassroots effort promoting steps to reduce the national debt. But the truth is,Fix the Debt is just another corporate-financed DC lobbying group looking for taxpayer handouts.

That revelation prompted a flashmob-style demonstration today outside the New England headquarters of a major Fix the Debt funder and beneficiary, Bank of America. More than 75 workers and retirees, police in tow, descended on the financial giant’s Federal Street building to call Fix the Debt corporations out for what they really are: gold diggers.

The action comes on the heels of a report from the non-partisan Institute for Policy Studies (IPS), which reveals that Fix the Debt’s legislative agenda has little to do with the national debt at all. In fact, the bulk of the group’s lobbying activities have focused on securing billions in new corporate tax breaks at the expense of American workers and seniors.

Make no mistake, Fix the Debt does support cuts to Social Security and other vital programs – as well as raising the retirement age – as a way to reduce federal spending, But according to the IPS report, Fix the Debt plans to use those savings to fund more than $134 billion in tax giveaways for its 63 publicly-held member corporations -- including Bank of America, Verizon (NYSE: VZ) and General Electric (NYSE: GE). Keep in mind, 24 of these Fix the Debt companies already pay their CEOs more than they paid in federal corporate income taxes. Twenty-two spent more on lobbying than they did on their tax bill.

So much for “fixing the debt.” As it turns out, the corporate-financed Fix the Debt campaign amounts to old school gold digging at its worst. Might want to mind your pocketbook.

Want to put a stop to Corporate America’s gold digging? Tired of your tax dollars paying for Bank profits and CEO bonuses? Visit MassUniting.org/GoldDiggers to sign up and take a stand against corporate greed!

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Stephany is the spokesman for MassUniting – a coalition of community groups, faith organizations and worker advocates united in the fight for good jobs, corporate accountability and stronger communities.