Wisconsin CU League News Release - 08/12/11
Banks urging government to heap taxes on consumers
Pewaukee, Wis. – “There they go again,”
said Brett A. Thompson, President & CEO of the Wisconsin Credit
Union League. He was reacting to suggestions being tossed out again by
the Wisconsin Bankers Association (WBA) that more taxes be wrung out of
the already tax-burdened Wisconsin citizens who own the credit unions
where they borrow and save. Credit unions are cooperative financial
institutions that pay millions in taxes annually while saving their
members over $200 million a year compared to what they would have to pay
“In the recent past, banks took huge bailouts from taxpayers.
Until they were stopped, many held billions of dollars of assets in
other states to avoid paying their share of Wisconsin taxes.
According to a recent Capital Times report, Associated Bank,
headquartered in Green Bay, paid no state income tax from 2000 to 2009,
in spite of booking $2.6 billion in profits over that period.
©2005 Wisconsin Credit Union League. All rights reserved.