Who Pays? OUR COMMUNITIES:
This recent budget cycle saw $4.5 billion in cuts to vital social service programs. Here’s a list of the programs that were cut the most:
- Basic Health – $129 million cut and 20,000 individuals currently on Basic Health will lose coverage
- Elimination of cash assistance from Disability Lifeline – $179 million cut
- Salary reductions for k-12 employees (teachers and administrative positions) – $179 million cut
- Reductions to colleges and universities – $618 million cut, leading to 11-16% tuition increases
- Long term care hours – $97 million cut, representing a 10% decrease in hours
Who Doesn’t Pay? CORPORATIONS AND THE WEALTHY
Chase Bank & Northwest Regional Director Phyllis Campbell:
- Received $94.7 billion in bailout money. Since then, Chase has made $29.1 billion in profits
- From 2009 to 2010, Chase had a 166% increase in income while receiving a 13% decrease in the amount they paid in income tax
- In the first four months of 2011, Chase made $465,000 in ATM charges from welfare recipients. That money is in addition to the $700,000 they already receive every month from the state as a maintenance fee
- Total: $123.8 billion
Bank of America:
- $2.2 trillion in assets and paid $0 in taxes in 2009 and 2010
- Bank of America received $20 billion in US government aid and $118 billion worth of guarantees against bad assets as part of the bailouts
- Total: $2.34 trillion
The Wealthy:
- Washington State loses $12.5 million every two years to a sales tax credit for elective cosmetic surgery
- Washington State gives away $10 million every two years to private jet owners
- Washington State loses $2 million every two years to a sales tax break for country club members
It’s time for corporations and the wealthy to pay their fair share. Middle class and low income families have shouldered the burden of the budget cuts long enough. It’s time that our state begins to prioritize people and well-being over corporate interests and profit.
