Preserving The American Political Philosophy

TWEET THIS  http://goo.gl/otcDDo Introduction: Below is a post formerly published on the former Augusta Insider. It concerns relatively recent Maine Legislation . The summary in the legislation states "This bill is modeled on statutes in Arkansas, Iowa, Michigan, Montana and Utah. It authorizes the establishment of the Maine Fund of Funds within the Small Enterprise Growth Board for the purpose of increasing the availability of venture capital to the Maine economy. " The legislation does not provide the specific statutes of the states that are used as a model for this investment scheme. I looked up the constitutions of Iowa and Arkansas to see what their statutes say about the creation of corporations. Iowa's constitution is very strict about prohibiting the creation of corporations by special acts of legislation, while Arkansas's allows for more latitude than the Maine State constitution. There are several states that use the same language prohibiting the forma

TWEET THIS   goo.gl/bDXMYY There is a noteworthy article in the Portland Press Herald by staff writer WHIT RICHARDSON Pay Day At the Mill tells the story of how investors from out side the state lobbied the legislature to create new program Maine New Markets Capital Investment program, written by their own lawyers to include the ubiquitous refundable tax credit found throughout economic development programs devised by the Maine legislature In the end, here’s what really happened: Two Louisiana financial firms arrived in Maine with a plan to create such a program, hired lawyers and lobbyists to get it passed in Augusta, then put together the Great Northern deal using one-day loans that made an $8 million loan look like a $40 million loan. While they claim they did this to leverage more investment, the result is that Maine’s taxpayers are going to pay $16 million to banks and investment firms that invested only half that amount. And all of it was legal. Whit Richardson Payday A

Tweet This   http://goo.gl/br7pv0 Beacon POD Cast June 12, 2015 – The New Markets scam Download file  | Duration: 31:54 | Size: 29.2M In this episode of the Beacon podcast, Maine People’s Alliance political director Ben Chin interviews  Joel Johnson , an economist for the Maine Center for Economic policy, and attempts to make the deliberately-complicated New Markets tax credit scam (through which out-of-state corporations have fleeced the Maine taxpayers of more than $30 million) a little more understandable. This Beacon POD Cast is presented by Mike Tipping, Bangor Daily News Journalist  and Director of the  Maine People's Alliance , who tells us in his introduction that Chin and Johnson are going to "dig a little deeper" into the New Markets Tax Credi t and repeats the ubiqutous media line that one of the reasons why the scam hasn't caused more public outrage and government action is because it is "so deliberately complicated". This line is th

Featuring The Maine Capital Corporation of 1976  Established in the wake of a newly centralized United States Economy,  Image for post Image by Mackenzie Andersen using public domain clip art Legal status disclosure: This is an opinion of a layperson. independent researcher ,and private citizen of Maine. My generation, aka the baby boomers, did not create the great wealth divide that advantages the few at the expense of the many, but we allowed it to take place. In order to understand a great effect, one needs to understand the molecular response occurring at the scale of individual human interaction.This story posits that the centralization of the American economy was a large contributing factor in the creation and escalation of the wealth gap and examines how it manifested on location to the benefit of the private capital interests of the few. The story takes a step back in time to the when the first act of legislation passed after the centrally managed economy of Maine was declared