Auburn residents confront Chase bank

On Saturday, May 21st, a group of Auburn residents, led by Patti Larsen, a teacher in the Auburn school district, went to Auburn’s Chase bank branch to talk to Chase about  an issue that is affecting those in Auburn and all across the state. The lack of tax revenue has affected everything from schools, to job creation, to healthcare for the needy and other public services.

Those needs can be addressed by increasing the tax revenue the state brings in. The $81 million in state tax revenues lost last year to a loophole exploited by Chase and other big banks as well as the $1.4 billion federal tax refund Chase is seeking now only results in harm to our fellow community members who need taxpayer-funded services the most.

Chase’s pattern of voraciously pursuing state and tax loopholes and refunds in the midst of tremendous community suffering brought on by pinched state and federal budgets is what Patti and our crew went to Chase to address.

In addition to passing out information on the concerns of their community organization, Working Washington, this delegation delivered a letter to the local branch manager at Chase and asked him to pass it along to his boss in Seattle.

In this letter, this delegation from our community asked Chase to give back its share of the $81 million Chase and other banks pocketed last year through a Washington State tax loophole,  so that those precious taxpayer resources instead can be invested in the communities here in Washington who so desperately need it.

The letter presented to the bank manager appears below:

We are a group of concerned Auburn residents writing to request that Chase bank pay back its share of a Washington state tax loophole which depleted Washington’s state tax revenues last year by $81 million in order to stop the cuts to quality education for our kids.

In Auburn alone, $5.3 million was cut last year from our school district. The cuts have increased class sizes, jeopardized music, science and math programs, and will make it more difficult for Auburn children to get the quality education they deserve. The school district is facing another $5.6 million in cuts this year.

On top of that, higher education is suffering. Tuition is rising at our local Highline Community College. Students continue to face steep debt in order to get a college opportunity.

Our kids deserve a good education, and a chance to build a better future. Yet, during these difficult economic times, Chase has exploited a tax loophole depriving this community of tax revenues it desperately needs only to pay, its CEO $20 million, and rake in $29 billion in profits since the bailout.

Chase claims to give back to the community, but our community is still suffering while Chase is prospering. We demand that Chase do the right thing and pay its fair share.

Please ensure this letter is forwarded to JP Morgan Chase Chairman Phyllis Campbell so she can schedule a time to meet with us to discuss how Chase plans to return this loophole money to the community.

Sincerely,

Auburn community members

Remember to stay up to date with everything Working Washington does by subscribing to our social media networks.

Facebook

Twitter

Our blog

June 4th - Let's Stop Getting Chased

March to Chase Bank in Seattle Meet at 11am at the Othello playground

(Corner of S Othello St & 43rd Ave S. One block from Othello and MLK Light Rail stop)

We're fighting back against big banks like Chase that wrecked our economy!

Can you commit to join us? Just click here and commit.

Standing Up and Speaking Out at Chase

Nothing is going to change in this economy until people like us start to speak out. That’s why a group of Auburn residents took some time out of our busy Saturdays to deliver a letter to the manager of a local Chase branch.

The letter called on Chase to meet with people like us and explain what it intends to do with the $1.4 billion tax refund Chase is due.

Why isn’t that money going back into communities like Auburn to create jobs?

Why is Chase paying so little in tax when our public services like schools, higher education, and healthcare are facing massive cutbacks?

“I thought it went very well,” said Patti Larsen, the leader of our Working Washington delegation.

“I feel very good about the contact we made with Chase,” added Vernon Hill, who had a chance to talk to several customers about the special tax loopholes Chase gets.

Chase needs to continue to hear from us so it understands that we’re angry about the damage that big banks have done to our communities. They need to do their part to create jobs and rebuild our economy.

Make sure you sign up for text alerts to find out about the next step in our campaign to hold Chase accountable.

Why Chase? Why Now? (Part 1)

Why should Washingtonians pay attention to what Chase Bank is doing to our state’s economy? Because of the Great Recession.

The financial crisis of 2008 was like a tsunami.  Officially, it’s over.

But ordinary people in Washington are still picking up the pieces. People are still facing foreclosure and bankrupty because bankers’ greed flattened our economy.

How do we fix the damage? Where do we start?

First, we need to make sure that massive Wall Street banks like Chase that were a central part of wrecking our economy are held accountable.

These banks got a gigantic favor from taxpayers like us when our tax dollars bailed them out.

Big banks like Chase have a huge advantage over smaller banks because they were considered  “too big to fail”. That mean that Wall Street executives at major banks like Chase take it for granted that the federal government will bail them out if they got into trouble.

Banks like Chase made reckless and greedy decisions to boost their profits.  When they got into trouble, our tax dollars saved them.

Now  they have recovered nicely, generating over 29 billon in profit since 2008.

In fact, as Chase’s profits went up from 2009-2010 by 166% .

But the the amount they paid in taxes actually went down by 13%.

Our tax dollars bailed them out. But now that our schools, roads, healthcare programs, and other vital public services are facing cuts, Chase isn’t giving back or even paying their fair share.

Instead, Chase is taking care of Chase. Jamie Dimon, Chase’s CEO is making $10,000 per hour and he was given an additional $28 billion in bonuses and compensation.

We did our part to help Chase and other banks during the crisis. Why aren’t they doing their part to help us now?

That’s why Chase matters.

Crossing the Moat and Storming the Castle at Chase Shareholder Meeting

The JP Morgan Chase office building in Columbus, Ohio is surrounded by a moat—literally. But that didn't stop hundreds of Americans from finding a way across and storming the castle.

With all entrances blocked by police, what's a group to do? Build a bridge!

Dressed as Robin Hood, hundreds of homeowners, clergy and workers successfully crossed the moat and sent a direct message Chase and other big banks: stop hoarding resources and pay your fair share!

A group of proxies were also inside the Chase shareholder meeting. One member of National People's Action asked Jamie Dimon directly: "As a person of faith, my God believes you shouldn't take advantage of people when they are down. CEO Jamie Dimon, do you believe in the same God I believe in?"

Dimon answered: "That's a hard one to answer."

Jamie Dimon went on, "[for any errors that were made] "we deeply apologize. We are doing everything we can to keep people in their homes that should stay in their homes."

------------- The Showdown in Ohio was being organized by National People's Action and the Ohio Organizing Collaborative, and is part of a series of protests at big bank shareholder meetings nationwide as part of the New Bottom Line Campaign. For more information, visit: http://showdowninamerica.org/ohio and http://newbottomline.com

Working Washington Takes on Chase Bank

Working Washington members recently attended the May Day Immigration March. We had a stage set up along the march route and members were chanting, waving signs and telling stories about how Chase’s practices have affected them. Check out these great pictures from the rally:

[gallery link="file"]

Thousands Protest Expected Budget Cuts in Lower Manhattan

MANHATTAN — Thousands gathered in Lower Manhattan Thursday to protest the mayor's proposed budget cuts, calling on the city to spare social programs and "make big banks and millionaires pay."

The crowd, which included activists from education, housing, transportation and several other industries that would be affected by the budget cuts, was estimated to have reached 20,000, according to organizer Dan Levitan.

Participants convened in eight meeting places around Lower Manhattan and began marching towards Wall and Water streets in the Financial District about 4:30 p.m.

Read more about the protest

Renton Neighbors Tell Their Representative: Do Your Part to Help Create Jobs

Why is the economy not working for ordinary people?

Where are the good jobs?

Those were big questions that people from around Renton asked at a meeting of the new Renton chapter of Working Washington on May 3rd. We agreed that the odds are stacked up against working class Washingtonians when it comes to finding a good job with a secure future in this economy.

We decided that the people who speak for us in Washington, D.C. need to hear from us–not lobbyists for for corporate special interests who usually have their ear.

Luckily, Congressman Adam Smith was holding a town hall that same evening. We decided to move our meeting to the Congressman’s town hall to speak out together.

Working Washington member R.L. Stewart spoke at the town hall. He told Congressman Smith that people in Renton are still hurting. We need more jobs. And we need to stop giving tax breaks to corporations that aren’t creating jobs here in Washington.

When R.L. spoke, other Working Washington members stood up, surprising Rep. Adam Smith with our show of unity. Congressman Smith told us that he heard our message and that he would work on addressing our issues.

Now it’s up to us to hold elected officials accountable.

Tiempo para poner en las sombras de ojos verdes

Es hora de la verdad con el presupuesto del Estado, y cuenta hasta el último centavo. Pero ¿por qué no empezar a actuar del gobierno como unnegocio? Esa es la pregunta formulada por el representante estatal Andy Billig de Spokane, en este editorial invita a la reflexión. Es tan obvio.Descuentos significa menos dinero que in Cuando un negocio está teniendo un momento difícil, se vuelve a examinar los descuentos queofrece. Pero el Estado ha puesto lagunas del impuesto de sociedadesfuera de los límites. Y eso es sólo una receta para una mala gestión.

President Obama Meets with Participants in the 1968 Memphis Sanitation Strike

President Obama invited the surviving participants in the 1968 Memphis Sanitation Strike to honor their fight on behalf of all workers for safe workplace conditions, respect in the workplace, and a better life for themselves and their families. Dr. Martin Luther King, Jr., was killed while in Memphis trying to support the striking sanitation members, who were working toward forming a union.

See a timeline of the strike.