Rev. Pinkney: Picket the NAACP Image Awards!

Below is a press release from Rev. Edward Pinkney, director of BANCO Organization and former president of Benton Harbor, Michigan NAACP.  Rev. Pinkney announces a boycott against Whirlpool Corporation products and plans to picket the NAACP Image Awards in Hollywood, California on February 1, 2013.

FOR IMMEDIATE RELEASE   
STOP PIMPING OUR COMMUNITIES!

Boycott all Whirlpool products Amana, Estate, Gladiators, Garage Works, In-sperience, Jenn-Air, Kitchen-Aid, Magic Chef, Maytag, Roper,Acros, Inglis, Bauknecht, Brastemp, Amiral, Ikea Appliance and Kenmore. Boycott starts November 1, 2012, at midnight.

Whirlpool steals money from the people!

Whirlpool Corporation will not pay anywhere near the U.S. statutory tax rate of 35% on those profits. Its effective rate is 0%.

Whirlpool has stock more than $500 million in tax credits. Remember that U.S. Rep Fred Upton, who is the heir to Whirlpool fortune, is the chair to the U.S. Energy Committee.

The firm get a production tax credit of up to $200 per refrigerators, $225 per washer and dryer and $75 per dishwasher.

Think of these energy efficiency tax carve out as a version of the earned income tax credit for corporate America. Except Whirlpool Corporation is not poor.

The deal gets sweeter. Those credit can be carried over from one year to the next for up to 20 years. Whirlpool is collecting so many credits that it may not have to pay a dime of corporate income tax for years and years. The lost revenue alone from Whirlpool far exceeds the $78 million revenue cost over 10 years that Congress's joint committee on taxation predicted for the credit...

Special favors like these also create a business constituency against tax reform that would benefit the overall economy. Whirlpool carries its $500 million of unused tax credit as an asset on its balance sheet, so cutting tax rates shrinks the book value of that asset.

"We are not opposed lowering tax rates," say Scott Hodge, president of the tax foundation.

The White House claims to want to reduce corporation tax rates in a neutral way by closing loopholes. Yet it is hard to take that commitment seriously when its new budget propose to extend the green-credit wind fall for another year. Whirlpool is one case study in the case for corporate tax reform.

Whirlpool has purchased the National NAACP, State NAACP, Benton Harbor NAACP, and placed the local inside of their building. The NAACP is no longer relevant and does not support the Black community.

We will protest the NAACP Image Awards in Hollywood California February 1, 2013. We are asking everyone to join us in this fight.

As of today, 2,122 members of the NAACP have burned their NAACP membership cards. We are asking 200,000 members to burn their membership cards. Burn baby burn! Next Sunday at 5:30 pm during the Rev. Pinkney Blogtalk Radio Show, I will burn my NAACP HAT!

Join us every Sunday at 5pm Eastern Time at http://www.blogtalkradio.com/rev-pinkney

Website bhbanco.org  Contact Rev Edward Pinkney (269) 925-0001