Do You Pay DC Taxes? Guess Who Doesn't?
The World Bank, the IDB and the IMF!
The World Bank, the Inter-American Development Bank (IDB),
and the International Monetary Fund (IMF) own over $1.3
billion worth of property in DC. Every year,
they earn combined net profits of over $4 billion;
the IMF also holds over $30 billion in
gold reserves. As Public International Organizations,
charged with making the rules for the global economy,
they are exempt from ALL TAXES by federal
law. Yet they receive DC services like Police and Fire
protection, street maintenance, snow removal, and emergency
planning -- FREE! They do not contribute
a cent to the $312,284,128 in local funds
to be spent in 2004 alone for DC loan repayments!
World Bank and IMF headquarters in Washington, DC
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The World Bank and IMF serve the
corporate, not the public, interest.
World Bank projects force people from
their homes and poison the environment. World Bank and IMF structural
adjustment programs often force the privatization of public health and
education, which leads to the denial of services to poor, low-income and
working-class people.
The closing of DC General Hospital, the second most
important trauma center in the District, is an example
of structural adjustment here at home! The life
expectancy of low-income residents in DC is decreasing,
and the District's infant mortality rates are nearly
twice the national average! Meanwhile, lower income and
working-class DC residents, like their counterparts
around the world, are denied basic healthcare services
because they can't afford to pay!
The World Bank and IMF's annual unpaid taxes total over $430
million and could cover more than 200% of DC General's
annual cost to DC. This uncollected tax bill could wipe out D.C.'s
heavy debt burden in one year, with $60 million to spare.
Like Harvard University, and the Port Authority of New York, the IMF,
IDB and World Bank should voluntarily make Payments In Lieu Of Taxes
(PILOTs) to the District of Colombia. Help us demand that these
institutions PAY THEIR FAIR SHARE!
50 Years
Is Enough: U.S. Network for Global Economic Justice
Phone 202.463.2265
á Fax 202.636.4238 á info@50years.org á www.50years.org
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