29 results for author: Jeanne Larson
HUGE TAX GAP
The nonpartisan Congressional Budget Office reported this month that the U.S. has a huge tax gap—tax revenues owed but unpaid. Recent Harvard University research estimates that 70 percent of the gap, approximately $266 billion a year, is due to the top 1 percent not paying what they owe. And that estimate might be low.
How did this happen? There has always been a gap, but the tax gap increased greatly since conservatives, including Wisconsin’s 7th Congressional District Representative Sean Duffy, made cuts to the Internal Revenue Services’ enforcement budget. Because of those cuts, there were fewer audits of the rich and ...
TOO MUCH MONEY IN POLITICS
State Senator Tom Tiffany is running to fill US Representative Sean Duffy's seat in Wisconsin's 7th Congressional District. He served in Wisconsin's Assembly from 2011-2013 and the Senate since 2013.
Since Tiffany says he will "drain the swamp" in Washington just as he did in Madison, it makes sense to look at his record.
Tiffany represented Wisconsinites at midnight on a Friday night in November 2015 when he supported, and the Senate passed, a bill that doubled campaign contribution limits from $10,000 to $20,000 and allowed anonymous donors to coordinate with candidates' campaigns, rendering campaign ...
WHY DON’T YOU FEEL AS THOUGH THE 2017 TAX CUTS AND JOBS ACT HELPED YOU?
Why Don't You Feel As Though the 2017 Tax Cuts and Jobs Act Helped You?
Because unless you have very high income, the federal income tax rate cuts you receive are so tiny they are hardly noticeable. Folks in the top 1 percent income bracket will save $51,000.
Because household tax cuts expire after 2025.
Because you need to own stocks, bonds, real estate investments and corporations to benefit. The biggest winners in the 2017 tax cuts were corporations -- their rate dropped almost 40 percent, from 35% to 21% -- and those getting dividend income from corporate profits.
Because the corporate ...
NATIONAL SECURITY RISKS OF CLIMATE CHANGE
Former Defense Secretary James Mattis has been on talk shows promoting his book “Call Sign Chaos: Learning to Lead.”
In his interviews, in direct contrast to messaging from the White House and most Congressional Republicans, Mattis warns us of the national security risks of climate change and reprimands our political leaders for not tackling the issue.
Mattis long held the opinion that climate change is a threat to the nation and remained resolute in that opinion while serving in the Trump administration. Since resigning as Defense Secretary, it is clear he feels compelled to spread this urgent message.
Mattis connects the dots when ...
HAVE THE TAX CUTS TRICKLED DOWN TO YOU?
HAVE THE TAX CUTS TRICKLED DOWN TO YOU?
By Jeanne Larson
In December 2017, the Republican majority rushed tax-cut legislation through Congress before the Congressional Budget Office (CBO) analysis of the 505-page bill could be properly scrutinized.
On April 9, 2018, reuters.com reported that the CBO estimates the immense tax cuts signed into law -- which Republicans said would pay for themselves -- will balloon the deficit for years to come. In just one year, 2017 to 2018, the deficit expands from $665 billion to $804 billion.
On September 28, 2018, forbes.com reported:
*The tax cuts are fueling a huge increase in the federal ...
AFFORDABLE CARE ACT
The Affordable Care Act (ACA), also known as Obamacare, is insurance-based healthcare legislation designed to improve Americans' access to medical care at lower costs.
Some of its components are:
get everyone in the insurance pool by requiring insurance with the individual mandate;
help low-income folks pay for insurance with government subsidies;
expand Medicaid eligibility to very low-income populations;
let children stay on parents' plans until age 26;
require insurance companies to cover pre-existing conditions;
make participating insurance companies provide decent plans with minimum coverage, no hidden exclusions and no ...
A CLOSER LOOK AT “FAKE NEWS”
In campaign speeches, tweets, and press conferences, Trump counters with, "Don't believe the crap you see from these people, the fake news. Just remember, what you're seeing and what you're reading is not what's happening."
President Trump calls "fake news," a label he pins on nearly all media outlets except Fox News, "the enemy of the American people."
According to the three Washington Post journalists assigned to update a fact-checker database that analyzes, categorizes and tracks every suspect statement made by Trump, as of August 1, 2018, Trump made 4,229 false/misleading claims in the 558 days since being sworn in as president, with nearly ...
ON THE ROAD AGAIN….
In February 2018, US News and World Report ranked Wisconsin 44th in the country for its road conditions. The report, based on 2016-2017 data, noted that 31 percent of Wisconsin's roads are in poor condition compared to Minnesota's 10 percent.
The National Bridge Inventory rates the structural fitness of bridges from 0 to 9; 0 indicates the bridge is closed, 9 is a superior rating. Wisconsin's average bridge rating decreased from 6.5 in 2008 to 6.3 in 2016. If this trend continues, we will have increased numbers of bridges closing or imposing weight limits, negatively affecting industries that haul heavy loads, such as logging and agriculture.
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Tax Fairness
While President Trump, House Speaker Paul Ryan, Representative Sean Duffy and other Republicans are trying to convince us that the December 2017 Tax Cut and Jobs Act is benefiting the working class, more evidence is surfacing that proves it is a tax bill of, by and for the rich.
A recent analysis by Americans for Tax Fairness, a political advocacy group devoted to tax reform, found:
Only 67 of the Fortune 500 corporations have announced plans to share their tax cuts with employees.
Only 4.3 percent of workers will receive a one-time bonus or wage increase tied to the business tax cuts.
Businesses spent 37 times as much on stock buybacks ...
ADVANCE DIRECTIVES
Advance directives are documents signed when we are of sound mind to inform those who will be taking care of us in the future -- usually our power of attorney -- how we want our finances handled and what we would want for medical care under particular circumstances.
Until now, there was no advance directive addressing one's preference for medical treatment when suffering from dementia.
The National Public Radio show "On Point," heard on many public radio stations from 9:00-11:00 a.m. weekdays, recently discussed a new advance directive form created to address one's wishes in the event of the development of dementia.
The form is not legally ...