Protesters rally in downtown LA against 'corporate tax dodgers'

LOS ANGELES

The protests included hanging banners off the 110 Freeway. One could be seen hanging earlier in the day, which read: "Save California: Tax the Rich." About 1,000 came together for the rally centered in downtown's Financial District.

The federal tax rate for corporations is 35 percent, but according to the watchdog group Citizens for Tax Justice, 280 of Forbes 500 companies are at half that rate, benefiting from tax shelters and loopholes. That impacts workers. Fewer federal dollars means services cut and fewer opportunities.

The so called "Buffet Rule" proposed by Democrats aimed to impose a minimum tax rate on those making more than $1 million a year was shot down. Republicans will propose their measure Thursday, which they say will cut taxes 20 percent for businesses with fewer than 500 people.

Eyewitness News contacted some of the companies protesters say have benefitted most from the current tax code - Wells Fargo, Apple and Microsoft - but received no answer.

Activists at the downtown protest planned to help gather signatures in support of Gov. Jerry Brown's proposed tax package.

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