By Steve Rhodes
This is what democracy looks like.
1. Taking Back K Street.
“Rev. CJ Hawking & Krista Rand w/Arise Chicago join Thom Hartmann. The 99% Movement took their message to K-Street yesterday to fight back against all the corporate corruption in our government. Over 1,000 people – including many unionized workers – took part in the day of action dubbed ‘Take Back the Capitol.'”
See also: Why I’m Going To Washington
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2. As Illinoisans Take Back The Capitol, Politicians Run And Hide.
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3. Police Crush Cart.
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4. Too late, dude.
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5. Occupy Our Homes.
“Abandoned homes being occupied in Belmont Cragin and Auburn Gresham on Tuesday – part of a national day of action called by Occupy Our Homes – underscore the failure of banks to deal with the foreclosure crisis,” Curtis Black writes for Community Media Workshop’s Newstips.
“In Belmont Cragin, Communities United Against Foreclosure and Eviction are moving two homeless sisters and their children into a single family home that was abandoned sometime after foreclosure was filed in 2009.”
Also from Curtis Black this week:
“Just as the Occupy movement gives voice to the widespread perception that our economic system isn’t fair and doesn’t work for ordinary people, the growing movement to occupy homes responds to a foreclosure crisis caused by banks that are unresponsive and unfair to homeowners.
“Case in point: Sherri Norris. She’s one of thousands of homeowners who’ve made good faith efforts to deal with mortgage troubles and been stonewalled and misled by banks.
“Thursday she [announced] that, with the support of her neighbors and of Communities United Against Foreclosure and Eviction, she’s staying in her home, despite an eviction order.”
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6. People of Faith.
“A national group of interfaith leaders is calling wealthy Americans to support economic policies that benefit all Americans. The board of directors of Interfaith Worker Justice approved ‘An Open Letter to the One Percent’ at its national meeting in Washington, D.C. this week.”
Here it is:
To Whom Much Is Given, More is Required: An Open Letter to the One Percent
During this time of financial crisis and economic disparity, we affirm the God-given dignity of every person. We believe God loves all 100% of us and wants to use us to create a more just society.
As faith leaders, we appreciate the generosity, charity, and commitment to the common good that many of you embody.
Still, some of you have used wealth and power to benefit the few at the expense of the many. We expect you to work with us to not only give generously, but to advocate for democracy and economic justice that works for everyone.
We call on you to:
* Support tax policies and legislation that require more from you so our nation can create good jobs in America.
* Call for an extension of unemployment benefits for those unable to find work.
As Dr. Martin Luther King, Jr. said, “We are all caught in an inescapable network of mutuality, tied in a single garment of destiny.” We are in this together, all 100% of us.
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7. New Analysis Finds Corporations Paying Few State Taxes.
“Chicago, IL – A comprehensive new study from the Institute on Taxation and Economic Policy while profiles the 265 consistently profitable Fortune 500 corporations finds that 68 companies paid no state corporate income tax in at least one of the last three years and 20 of these corporations averaged a tax rate of zero or less during the 2008-2010 period.
“‘Individual taxpayers and small businesses in Illinois end up having to pick up the tab when these corporations avoid paying their taxes,’ said Illinois PIRG state Director Brian Imus.
“The report, Corporate Tax Dodging in Fifty States, 2008-2010 was produced by the Institute on Taxation and Economic Policy (ITEP) and released in conjunction with Illinois PIRG.
It examines Fortune 500 companies that filed SEC filings with required information on total state taxes paid that year. Only companies that reported profits all three years were included in the study. It includes Baxter International, Boeing and Archer Daniels Midland which are headquartered in Illinois.
“‘Our report shows these 265 corporations raked in a combined $1.33 trillion in profits in the last three years, and far too many have managed to shelter half or more of their profits from state taxes,’ said Matthew Gardner, Executive Director at the Institute on Taxation and Economic Policy and the report’s co-author. ‘They’re so busy avoiding taxes, it’s no wonder they’re not creating any new jobs.’
“Baxter International and Integrys Energy Group, both headquartered in Illinois, are two of the companies covered in the report. Between 2008 and 2010, Baxter International received a net tax payout of 28 million from the state despite reporting a profit of 898 million. Integrys Energy Group reported a profit of 819 million, yet the company paid no state income taxes.
“Corporate Tax Dodging in Fifty States, 2008-2010 concludes that these 265 corporations paid $42.7 billion less in the last three years than you would expect given a weighted average of state’s statutory tax rates.
“State lawmakers enact a variety of tax subsidies that reduce tax bills. Federal tax breaks enacted in the past decade further reduce state corporate income tax revenues since states generally accept corporations’ federal tax numbers as their basis for calculating taxable income.
“Multi-state corporations have also become more aggressive at devising tax-avoidance schemes. Gardner at ITEP notes that state corporate tax revenues have been steadily declining for two decades.
“Illinois PIRG’s own study last year on the use of offshore tax havens found that household tax filers in Illinois pay on average $494 in additional federal taxes to make up for revenue lost due to use of offshore tax havens. That report, titled How Much Did Offshore Tax Havens Cost You in 2010 can be found at this link.”
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8. CME, Sears.
“Illinois House leaders have reconfigured a tax-break package aimed at keeping Sears Holdings and CME Group Inc. from leaving the state, hoping to make it more politically digestible by splitting it in two,” the Tribune reports.
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9. MF Global.
“I simply do not know where the money is.”
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10. Sara Lee Gets Up To $6.5 million To Move HQ To West Loop.
Downers Grove jobs simply become Chicago jobs.
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11. Foreclosed Lake Forest Mansion Listed For $12 Million.
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12. Dispatch From Occupy LA: Family Guy Writer Blogs About His Arrest.
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13. “Somebody’s got to occupy the NBA because the rich are getting richer in the NBA.”
– Tony Kornheiser, Thursday, Pardon The Interruption
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Comments welcome.
Posted on December 9, 2011