CHASE pays no Washington state taxes through a loophole that allows banks based in WA to avoid paying taxes. Though CHASE is not based in WA, WAMU whom they acquired during the bailouts was and thus they are still given the credit.
CHASE acquired billions of dollars during the bailout at a zero % interest rate, money that they are now loaning back to the Government at a 5% interest rate—they are actually making money off taxpayers.
Teachers in Seattle are already facing layoffs that are likely to increase as the state balances the over $5 billion budget shortfall. In addition to this the legislature is considering a pay freeze for teachers.
This is not a spending crisis. It’s a revenue crisis that is caused when entities like CHASE and wealthy individuals like Bill Gates pay little to no taxes on their vast fortunes. The money to pay for social services is there. We are being asked to sacrifice but this sacrifice is not shared and is not equal. Teachers and other public employees are not the cause of the crisis, and should not pay for it!
Sponsored by the Seattle Education Association, Social Equality Educators and King County Jobs with Justice.
Endorsed by: El Comité Pro-Reforma Migratoria y Justicia Social, International Socialist Organization, Moveon.org, USUncut Seattle, and the Washington Fair Trade Coalition
Time
Saturday, May 21 · 11:00am - 2:00pm
Location
CHASE Bank 1919 North 45th Street, Seattle, WA 98103 (Corner of N. 45th St & Meridian Ave N.)
We plan to rally outside the bank to show solidarity for our teachers in the area. Teachers who have been affected by the layoffs and those who want to show support for their fellow teachers will be there as well.
Disclaimer: I am an organizer for US Uncut Seattle and we are endorsing this event so I am trying to spread the word! Please join us if you can. We expect a good turnout due to the fact that so many groups are endorsing and supporting this effort. There is talk about the fact that Dennis Kucinich will be in town for the Green Festival that weekend and one of our supporting groups is trying to get him to attend this event, so we are hoping for good media coverage if he does.