Thousands plan to rally on Wall Street against big banks

A coalition of more than three-dozen labor and community groups will bring a “spirit of Wisconsin to Wall Street” Thursday afternoon with a rally that the group expects to attract about 10,000 people.

Their message: Wall Street banks, millionaires and corporations are getting unfair tax breaks and not paying their fair share to help the city’s budget woes.

Mayor Michael Bloomberg is looking for $400 million in agency cuts to fill a budget deficit that will result in about 6,000 teacher layoffs, firehouse closings and other belt-tightening measures in the fiscal year starting July 1.

Participants of the "On May 12" rally will meet at 4 p.m. at eight assembly spots, including City Hall and Bowling Green Park. From there, they’ll march to Wall and Water streets, before ending in Battery Park after 5:30 p.m.

The nonprofit Human Services Council said the city budget proposal already cuts $400 million in human services for immigrants, youth, child care and other groups.

“The mayor has said he has no choice but to cut services for the poor and middle class,” said Chris Winward, senior policy analyst at the Human Services Council.