Today a landmark merger happened here in Houston and we made our mark! El Paso Corp held its shareholders meeting to announce the merger with Kinder Morgan. We had an army of a hundred who represented the voice of the people inside and outside the shareholders meeting. We let El Paso, the tax dodging, job cutting, corporation know it’s time they pay their fair share. El Paso knows that the pressure is on and the we, the 99%, are on to their tax dodging tactics and are aware of the fuzzy math they use to calculate the supposed income taxes they paid.
Earlier this week reps from El Paso told the press they paid over $750 million in federal, state and other taxes during the period 2008-2010 and had an effective tax rates of 24 percent for 2008, 46 percent for 2009 and 29 percent for 2010. Booooo! We looked at the reports and the money does NOT add up. What they forgot to mention is that they made $1.2 billion in profit and received a federal tax refund of $4 million, a -0.3% federal tax refund. They also didn’t mention how they skipped out on the bill to repair roads, provide infrastructure and keep our city safe when they didn’t pay their fair share.
We’re no longer going to let these corporate pigs bring home the bacon with out paying their fair share.
Check us out in action outside of El Paso: