TAX WALL STREET DAY OF ACTION - Apr. 15, 2010

SOUTHERN OREGON JOBS WITH JUSTICE, 14.04.2010 21:09

For 30 years, corporate CEOs and Wall Street speculators have put the squeeze on workers with globalization, privatization and union-busting.

They used their rising profits to buy Congress, convincing them to hand out tax breaks to the rich and gut banking regulations and consumer protections. Then they invented unscrupulous mortgage and investing practices, turning our financial system into a casino. When their speculation didn't pay off, they got Congress to bail them out to the tune of $15,000 for every household in America.

A tax on the speculators of the Wall Street casino could put 3 million people to work fixing our infrastructure, teaching our children, making our factories sustainable and improving our public services.

* * * * TAKE ACTION TO MAKE THEM PAY * * * * WE NEED JOBS NOW! * * * *

TAX DAY: APRIL 15, 2010
1PM - US POST OFFICE, 120 N. 1st St.
ASHLAND, OREGON

Currently there are 29 actions around the country * to learn more or find an action near you:  http://www.taxwallstreet.org

Banksters' storefront in Ashland

TALKING POINTS
WHY WE NEED TO ACT ON THE BANKS

Working families need good jobs now—and big wall street banks should pay.

• In this great recession, working families are losing their jobs, health care, retirement savings and
homes and need to see real results from Washington. We have to focus on jobs, jobs, jobs—
because there is no such thing as a jobless recovery.
• Since the recession started, America has lost nearly 9 million jobs when we needed to create
more than 2 million just to stay even. We’re 11 million jobs in the hole.
• Big Wall Street banks helped create our jobs crisis and should pay to create the 11 million jobs
America needs. A modest financial speculation tax will help curb harmful Wall Street
practices—and raise $100 billion to $300 billion annually, which could pay for 3 million
jobs. Taxes on excessive bonuses, accumulated wealth and making hedge fund managers pay
the same tax rate as ordinary workers would also make our tax system more fair and pay for a
real recovery.

Big Wall Street banks helped cause the financial crisis.

• Big banks helped plunge the nation into the worst financial crisis since the Great
Depression. They lobbied for deregulation and corporate tax breaks, then went on a reckless
gambling spree, creating complicated, risky mechanisms to make profits off of destabilizing the
economy. They have tightened lending for consumers and small businesses, and they have
refused to modify home mortgages. Millions of Americans have lost their homes, their jobs and
their retirement savings.
• These same big banks are skimming money from state and local governments (by getting no-
interest money from the federal reserve then charging interest to the states for short-term
operating loans) as well as taking a cut from unemployment benefits that are delivered via
debit cards.

Big Wall Street banks took trillions in taxpayer bailouts.

• These big banks took $15,000 from every household in America in bailouts. The $700 billion
Troubled Asset Relief Program (TARP) bailout was only the tip of the iceberg, as the Federal
Reserve has given them trillions in aid. Even the banks that have repaid their TARP loans paid
far below market interest on that money, a public subsidy of billions.


Big Wall Street banks went right back to business as usual.

• While refusing to stop evictions or lend money to families and small businesses, big banks
increased their bonus pools to record levels in 2009. Last year, they handed out an estimated
$145 billion in pay and bonuses. These big pay-outs would not have been possible without the
taxpayer bailout.


Now big Wall Street banks are spending millions lobbying against financial
reform and a recovery for the rest of us.

• Despite causing the biggest economic mess since the Great Depression, big banks now are
trying to block commonsense rules to prevent it from happening again. Big banks and their
industry groups are lobbying against needed regulations like creating an independent consumer
financial protection agency.

We’re telling the big Wall Street banks:

1. Stop refusing to pay your fair share to restore the jobs you destroyed.
2. Stop fighting financial reform and a recovery for the rest of us.
3. Stop evicting people due to foreclosures. Drop the debts instead.

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