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Protesters ‘Occupy’ Downtown in rage over corporate tax breaks

The Brooklyn Paper
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Occupy Wall Street protesters — some in costume — hit Downtown on Thursday, rallying outside JP Morgan Chase’s offices to condemn tax breaks that gave the wealthy bank hundreds of millions in subsidies even though the company did not retain the thousands of jobs it promised.

“Deliver your promises or give us our money back,” said organizer Kristi Barnes, one of three-dozen protesters who cited a decades-old deal with the state’s Industrial Development Agency that created $237 million in tax breaks to retain 5,000 jobs by 2013.

Fewer than a third have been kept, protesters said.

“It’s an egregious example of a large corporate giveaway,” said Bettina Damiani. “This is just a microcosm of a bigger problem.”

Nearby, protesters chanted, “Good jobs are what we need! We don’t need no corporate greed!”

One man, Austin Guest, donned a walrus mustache and top hat — and toted a cartoonish bag of money — to satirize the greedy bankers.

“I can’t help notice all you rabble rousers are a little confuddled about my bank,” he said. “But, please, just shoo!”

Other protesters handed fake “past due notices” to executives leaving the building, asking them to pay back what they “owe the people.”

Executives did not acknowledge the protesters, though some security guards laughed.

JP Morgan Chase spokesman Michael Fusco said that the agreement cited by protesters was dropped and renewed in 2004. He said the company is now required to have only 2,500 full-time employees and recently hired 800.

“We’re in compliance with the city and remain in good standing with IDA,” he said.

Protesters disagreed.

“We’re working people here in Brooklyn,” said George Finley, who wore pins with slogans and waved a sign. “And this is almost criminal.”

It’s not the first time that the Occupy Wall Street movement has hit Brooklyn. More than 100 protesters and elected officials gathered in Grand Army Plaza last month to rally for economic justice.

Reach reporter Natalie O'Neill at noneill@cnglocal.com or by calling her at (718) 260-4505. You can also follow her Tweets at twitter.com/#!/inkonthepad.

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Reader Feedback

Isa from Greenpoint says:
These guys are selfish bastards but they get away with this because laws allow them to. Occupy Washington D.C.! Occupy Albany! Occupy City Hall!
Nov. 11, 2011, 1:01 pm
StevenRosenberg from Park Slope says:
Where are the protests against the Obama Administration, and their crony capitalism practices? Solyndra? Money for research for fake problems like "climate change"? The OWS people are either Democrat plants, of freelance socialist morons who should be ignored or laughed at.
Nov. 11, 2011, 1:02 pm
Mike from Bay Ridge says:
If it was OK during the Great Depression to call similar camps "Hoovervilles," then why don't they call these what they really are: "Obamavilles?"
Nov. 11, 2011, 1:57 pm
Jose from Sunset Park says:
How about occupying a job?
Nov. 11, 2011, 3:54 pm
Tal Barzilai from Pleasantville, NY says:
I thank OWS for their protests over corporate welfare. Also, I am glad to hear that they are also against the AY complex as well especially when they placed a sticker about what it really was about. It's about time that the RAT starts paying his fair share and start using his own money rather than someone else's. Overall, the Bush tax cuts need to end. As for StevenRosenberg, Bush did a lot worse than Obama did especially when he lied us into a war in Iraq that had nothing to do with terrorism, plus he was the one the who believed that the rich deserved to have tax breaks.
Nov. 11, 2011, 3:57 pm
Pierce Hardwwod says:
Who wants to go occupy the front yard of Areck Baldwins 17 million dollar West Village townhouse with me??
Nov. 13, 2011, 1:25 am

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