Skip to main content

Lepage Seeks Control of Legal Settlement Funds Over Standard & Poor's Credit Rating Practices

Tweet This http://goo.gl/UZHClF
LePage seeks to wrest control of millions from MillsThe governor orders the transfer of $21.5 million from a lawsuit settlement out of an account controlled by the attorney general.BY EDWARD D. MURPHY STAFF WRITER

 Response to Article Above:

In this layperson's opinion Governor LePage, once again exhibits  confusion about the role of government and the rights of individuals. Funds derived from a lawsuit belong to those hurt by the action against which the lawsuit was brought. Such money is not the property of the state to spend for its own purposes. It is appropriate for the Attorney General to be in charge  of dispersing the funds to the intended recipients and inappropriate for the Governor to busy himself with such a task. The drama over who should be in charge of said task gives the appearance  of a Governor blinded by a lust for capital who believes that the lawsuit money is the property of the state and not of the victims of the crime.                                                                                                                                                                                                                                                                                                                                  

LePage resorts to a constitutional argument but only cares about the Maine Constitution when it suits him. In 2013 Lepage didn't mind signing a bill repugnant to the constitution that moved a short paragraph of fiscal information for which the constitution Article IX Section 14 mandates that it will accompany bond questions on the ballot but the 2013 statute Title 21-A, sections 651 orders that information to be placed somewhere outside the guard rail separating the voting area from the rest of the world. If the constitution were honored none of the bonds passed in the last election are ratifiable. All but one of those bonds are targeted to be channeled through state corporations which have come   into being by ignoring Article IV Part Third Section 14 of the Maine Constitution which prohibits the legislature from chartering corporations for state purposes.

In current legislation H.P. 166 concerning allocation of funds identified as a GOVERNORS BILL it states

State - Municipal Revenue Sharing 0020Initiative: Adjusts funding for municipal revenue sharing to bring allocations in line with changes in projected resources resulting from the implementation of a Maine capital investment credit and conformity with the United States Internal Revenue Code of 1986 as amended through December 31, 2014.

That figure is in parenthesis ($345,149)  indicating an amount taken out of Municipal Revenue Sharing to the benefit of a Maine capital investment credit- which I am guessing is the Expanded and Improved Seed Capital "refundable tax credit" which is for an up to 60% refund of private investments. A refundable tax credit means that if no taxes are owed, we taxpayers owe the private investor a cash payout for that up to 60% refund on his investment.




There is also a 1977 statute, §5202-A.Small business investment companies exempt, which as far as I have been able to determine has not been repealed- it grants blanket tax exemption to investment companies investing in Maine- so what does that make the Seed Capital Tax Credit- a "refundable tax credit" of not a direct cash transfer from taxpayer pockets to private investor's bank accounts?



So the trend seems to be to rob the individual and the common welfare (municipal revenue sharing) for the benefit of private investors and sell it to the public as "job creation" and all of this channeled through The Department of Administrative and Financial Services.

I am just a layman but I am telling it as it appears to me. If the money is left under the control of the Attorney General, it has more of a chance of being used to the benefit of those hurt by Standard & Poor's credit rating practices. If the administration controls it, the money will likely be used to the benefit of private investors sharing in the corporate state's capitalistic schemes.

Labels:

Comments

Post a Comment

Popular posts from this blog

Why are social impact investors trying so hard to defeat smaller shelters for the homeless?

  "Social Impact” developers in Portland, Maine seek to squelch a referendum for smaller shelters called for by qualified practitioners with concrete experience in the field. A large sign says Vote C to support the Homeless, small handmade sign next to it says Untrue! That sign is paid for by developers who want / Photo by Jess Falero In   the 1970s under Governor Longley , Maine became a centrally managed economy that expanded Maine’s wealth gap and merged, almost seamlessly, the public and private and the non-profit and for-profit economic sectors into one mutually beneficial wealth-concentration & distribution system. Currently, mutually benefitting factions are coming together once again in hopes of building a mega-shelter for the homeless in a Portland, Maine industrial development district. In addition to beds for the homeless, the project will include, dining, and locker facilities, as well as offices and an attached health clinic. The promotion  describes the ...
Post a Comment
Read more

Mayor LePage on Baldacci Reducing Funding To Municipalities

Tweet This  http://goo.gl/Et0wWS As Governor, LePage seems on track to implement the Steve Woods plan of nudging the inhabitants of rural towns to move into urban centers. Steve Woods was then the would be CEO of the corporate state. In the video Mr Woods explains that the inhabitants of 108 Maine Towns are not serving the corporation as they should be. Mr Woods says the 108 municipalities of Maine are costing the  corporation five times as much as the corporations recieves from these instrumentalities in sales tax revenue. Mr Woods speaks as a man managing a corporation not as a would be Governor of a state. He speaks in calm Obamaesque tones signaling that we can surely trust this erudite man so pro-active for the cause of state corporatism . The corporate state replaced Maine's constitution back in 1976 when Governor Longely called in the heads of Maine industry to restructure Maine as corporatio n, kicking the old fashioned Maine constitution out of ...
Post a Comment
Read more

FaceBook Blocking- in-Q-Tel and the Private Hegemony Of Power

TWEET THIS:  http://goo.gl/9y2MiH  Recently a message appeared  on my screen , being identified as from Facebook. It brought up the Facebook login screen and warned against sending friend requests to people that one does not know in one's circle of friends , family, work, and classmates I first received the message several months ago. The first message included a list of twenty names of people who did not respond to my friend request over all the years that I have been on Facebook. It asked that I delete all the requests and suggested that I stop sending friend requests for a week. The next was a list of 7 names - some of them very recent requests, which I did not think were given adequate response time. The third message to appear  told  that I am blocked for a week from adding friends and displayed a list of five names- all very recent requests- all in response to those with whom I interacted on Facebook- and one within the last hour of receiving t...
5 comments
Read more