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Problem: 
Wall Street is the problem.

Our economy only works for the wealthiest individuals, Wall Street, and corporations. They make record profits at the expense of our jobs, homes, families, schools, and cities and states. Wall Street takes our money however they can get it to make more money to enrich themselves. Then, they use the money to play in our democracy as if they own it.
Solution: 
The Solution is You.

Tell Wall Street to Pay US Back what they owe. We are organizing to compel Wall Street and our government to reinvest in America, including the hardest hit communities, to reverse the wealth and power grab, and put resources back in our hands. We must rebuild our families and communities and take our country back from Wall Street.

It’s a Revenue Crisis, Make Wall Street Pay: Approximately 26% or $375 billion of the current annual national deficit can be attributed to the tax cuts enacted during the GW Bush administration.

Our Demand: Raise the marginal tax rates on the wealthiest individuals by ending the Bush Tax Cuts and enacting Rep. Schakowsky’s Fairness in Taxation Act.

The Details: The Schakowsky plan would raise $78 billion per year and allowing the Bush Tax Cuts for the wealthiest would raise $40 billion per year . Together, that’s $1.5 trillion over 10 years, or more than what the super-committee is charged with finding.

It’s a Revenue Crisis, Make Wall Street Pay: According to a new report by the Institute for Policy Studies, 25 major U.S. corporations last year paid their chief executives more than they paid in federal income taxes.

Our Demand: Close corporate tax loopholes and offshore havens and institute a small Financial Speculation Tax on risky Wall Street trading. All corporations should pay their fair share.

The Details: Corporations and the people who run them are avoiding paying their fair share in many ways. For example, unlike the sales tax we pay on basically all everyday purchases, Wall Street pays nothing when they engage in speculative trading. Even a very small – under ½ of 1% - financial speculation or transaction tax would generate $150 billion annually and would have the added benefit of cutting down on the speculative gambling on Wall Street that makes our economy less stable.
Closing corporate loopholes is also necessary. For example, ending the corporate practice of deferring taxes on income US companies hide abroad would generate close to $40 billion annually.

It’s a Jobs Crisis, Make Wall Street Pay: 25 million Americans are out of work or underemployed while our nation’s infrastructure is crumbling all around us.
Our Demand: Enact real a real jobs program that will put millions back to work repairing and upgrading our crumbling physical and social infrastructure.

The Details: According to the American Association of Civil Engineers, if we continue to defer the $1.7 trillion in necessary maintenance just on our transportation infrastructure, it will cost us $3.1 trillion dollars over the next nine years. Our public housing stock requires an investment of $20 to $30 billion. We need to hire back and hire more teachers, more social, healthcare and child care workers and more public safety personnel. The Obama jobs plan is a start, but the needs are so great that it is only a step in the right direction when what we need is a leap.

   

 

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