Stop Foreclosures: The last two years saw record foreclosures with one out of seven houses in the U.S. behind in their mortgage payments. A total of 3.8 million foreclosure filings and actual bank repossessions topped 2.8 million in 2010, a 2% increase over 2009 and a 23% increase over 2008. This record is likely to be broken in 2011. The housing market is so bad that now there are reports of banks walking away from houses in foreclosure, leaving problems in communities.
Pay Fair Share of Taxes: Big banks are not paying taxes, while reaping tax payer bailouts. Bank of America did not pay any federal income taxes in 2010. The largest bank in America didn't pay federal income taxes in 2009 either. If Bank of America paid their fair share of taxes, planned cuts of $1.7 billion in early childhood education (Head Start & Title 1) would not be needed. Bank of America avoids paying taxes by using subsidiaries in offshore tax havens. To eliminate their taxes, they reinvest proceeds overseas, instead of bringing the dollars home, thereby undermining the U.S. economy and avoiding federal taxes. Big Finance, like Bank of America, contributes to record deficits that are resulting in massive cuts to basic services in federal and state governments.
Break Up the Big Corporate Banks: If banks are "too big to fail" then they are too big. They dominate the economy and the political system. Ten huge banks now control 60% of the economy. They ensure concentration of capital and concentration of political power. Because of the federal government's protection of the big banks, small and moderate sized banks cannot compete. Failure to break up big corporate banks ensures their dominance of the economy and the government. As Senator Dick Durbin said about the banks controlling the senate, in a moment of honest frustration, "they own the place." It is time for the people to take back ownership of government and politics.
It is urgent that Americans organize, and stand up to the concentrated political/economic power and greed of the financial elite. Join us on April 15 to be part of a people-powered movement that reigns in the power of concentrated corporatism and builds the power of all Americans. Get involved now as we take the steps needed to build a movement that cannot be stopped.
Join us in New York City on April 15, 2011 at 11:00 in Union Square Park.
Kevin Zeese is executive director of Prosperity Agenda.
We need to raise $5,000 for this event to pay for the sound sytem, stage and signs. Please make a contribution now. You can contribute by clicking here.
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
2
2
1
