with occupy movements around the world
calling for a “Robin Hood Tax” of a 1% on financial transactions & currency trades
- CHASE Bank has profited through the recession that it had a big part in causing and was able to compensate Mr. Dimon, to the tune of $20.8 million dollars last year.
- CHASE pays no state taxes on its in-state mortgage interest income. This loophole was created for Washington State based WAMU, but since the “housing bubble” lending binge that crashed our economy and bankrupted WAMU, it now benefits Chase and other banks. Their fair share would add nearly $100 million per year to our State’s sorely strapped budget.
- CHASE acquired billions of dollars during the bailout at a near-zero % interest rate, money that they are now loaning back to the U.S. Treasury at a rate 12 times higher. They are taking more money from taxpayers, rather than investing to create jobs.
- Teachers in Seattle are facing layoffs as the legislature struggles to cover its $5 billion + budget shortfall. In addition, Seattle teachers have seen their pay cut by 1.9%.
- Cuts to bus routs, healthcare, homeless shelters, and other social services have made the lives of 99% of the population more difficult.
- This is not a spending crisis. It’s a revenue crisis that is caused when entities like CHASE pay little to no taxes on their vast fortunes. The money to pay for social services is there. Teachers, other public employees, and the 99% are not the cause of the crisis, and should not pay for it!
Endorsed by the Occupy Seattle General Assembly
If you didn’t get a chance to make it down to the rally Sat Oct 15th, we led an amazing sit-in in front of CHASE Bank. Check this Occupy Seattle video of Jesse Hagopian speaking on stage and clips of the sit-in: http://www.youtube.com/watch?v=HxJ_2iIX4Ow&hd=1