October 10, 2012
From: The Federation of Connecticut Taxpayer
Organizations
Contact: Susan Kniep,
President
Website: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032
2012 Presidential Debate ...Schedule
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Higher education chief 'mistakenly' ordered 21 executive
raises without board approval
$49,000 increase granted recently to Michael P. Meotti,
the executive vice president of the Board of Regents for Higher Education
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State debt more than 37,000 Dlrs
per private worker, 13,000 Dlrs per capita
State Budget Solutions' third annual State Debt Report released in August showed that
together, state governments together face a crushing debt of more than $4
trillion. This report examines state debt on a per capita basis and reveals
that state debt amounts to $13,425 for every man, woman and child in America.
The debt total equals $37,486 for every private sector worker. It is almost a
third of private sector Gross State Product….The largest per capita debt figure
for all fifty states is Alaska, where each person's share of their state's debt
stands at $31,141. New Jersey, Hawaii, Connecticut, and Illinois make up the top five states with the
highest per capita share of the state debt.
Check out Connecticut at
View the data spreadsheet here.
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Analysts: Market has not priced in fiscal cliff - The Hill's
On The Money
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FISCAL CLIFF LOOMS LARGE
CT military industry jobs hang in limbo as
deep budget cuts loom
By Howard French - Journal
Inquirer - October 9, 2012
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Moody's warns United States of rating
cut as fiscal cliff looms ...
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IMF: New global recession risk increases
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GOT
HEALTHCARE?
TAXPAYERS
PAID
OVER
$5.7 BILLION FOR STATE OF CONNECTICUT
HEALTHCARE
COSTS IN 2012!
In Connecticut, state
taxpayers are paying over $5.7 billion to provide healthcare to prisoners,
state employees, state retirees, Medicaid recipients, and others as the
following chart illustrates.
The Federation
extends its appreciation to the State Comptroller’s office and others who
assisted the Comptroller in providing the Federation with the following
information.
The healthcare
debate has been fueled with passion by both those who support a reformed
national healthcare policy and those who are opposed.
Relevant to the
debate is what taxpayers on a local, state and national level are currently paying
for government subsidized healthcare. It
is interesting to note that some workers who are currently paying these costs do
not have access to affordable healthcare for themselves or their families.
|
.
State
of Connecticut Department
|
Amount
|
|
CME49500 Off of the Chief Med
Examiner
|
5,236,901.74
|
|
DDS50000 Dept Of Developmental
Services
|
1,013,182,365.57
|
|
DPH48500 Department of Public
Health
|
80,906,633.66
|
|
MHA53000 Mental Health &
Addiction Svcs
|
692,807,760.19
|
|
PSR56000 Psych Security Review
Board
|
301,491.93
|
|
Husky Program (state share)
|
11,763,237.50
|
|
Medicaid (state share)
|
2,357,152,841.00
|
|
Charter Oak Health Plan
|
11,070,000.00
|
|
CT Pharmacy Assistance to
Elderly
|
297,643.00
|
|
Healthy Start
|
1,412,376.00
|
|
DMHAS Medicaid
Disproportionate Share (state share)
|
52,967,500.00
|
|
Disproportionate Share-
Medical Emergency (state share)
|
134,243,423.50
|
|
CT Children's Medical Center
|
10,050,240.00
|
|
UCONN Health Center
|
108,458,794.00
|
|
Retired Teachers' Health
|
35,259,003.00
|
|
Inmate Medical Services-
Corrections
|
91,025,952.00
|
|
Grants for Psychiatric
Clinics- Children
|
13,920,319.00
|
|
State Employee Health Service
Cost
|
551,613,943.00
|
|
Retired State Employee Health Service
|
549,063,351.00
|
|
$$ TOTAL STATE
HEALTHCARE COSTS $$
|
5,720,733,776.09
|
**********************
Governor
Malloy Receives an F - Fiscal Report Card on America's Governors: 2012, Cato White
... Paper No. 35 Four governors were awarded an "A" in this report
Sam Brownback of Kansas, Rick Scott of Florida, Paul LePage
of Maine, and Tom Corbett of Pennsylvania. Five governors
were awarded an "F" Pat Quinn of Illinois, Dan Malloy of Connecticut, Mark Dayton of Minnesota,
Neil Abercrombie of Hawaii, and Chris Gregoire of Washington. Continued at …… http://www.scribd.com/doc/109347697/Fiscal-Report-Card-on-America-s-Governors-2012-Cato-White-Paper-No-35
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Overseas Cash and the Tax Games
Multinationals Play By VICTOR
FLEISCHER Oct 3, 2012 More
than a trillion dollars in cash and short-term investments sits in offshore
holding companies, awaiting a repatriation tax holiday. In the meantime, tax
professionals spin out ways to manipulate the system. The tax code provides
multinationals based in the United
States with many incentives to shift income
to foreign low-tax jurisdictions. In theory, American corporations are taxed at
35 percent on their worldwide income. But income earned by an active controlled
foreign corporation is not usually taxed until the cash is repatriated to the
parent company in the United
States as a dividend. From a policy
perspective, the problem is not so much that tax on foreign income is deferred,
but rather that United
States income is being masqueraded as
foreign income. Continued at ….. http://dealbook.nytimes.com/2012/10/03/overseas-cash-and-the-tax-games-multinationals-play/
Meningitis outbreak toll: 119 cases, 11 deaths
Regulator has link to firm implicated in outbreak By Kay Lazar, Todd Wallack and Liz
Kowalczyk Globe Staff / October 9, 2012
The owners of the Framingham company at the heart of a nationwide outbreak of
meningitis also own a related pharmacy, one of whose executives is a board
member of the state agency that regulates pharmacies. Continued at …… http://www.boston.com/whitecoatnotes/2012/10/09/number-patients-with-fungal-meningitis-grows/Hvx10xTZi0zGoPKGjznHYI/story.html
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TOWN WINS UNION LABOR CHALLENGE
State Labor Board Rules in Woodbury's Favor A 2011 complaint against the town by a union is now
resolved. Woodbury's first selectman is happy with the outcome but a former
Public Works employee is not. By Jaimie Cura Email the author
Woodbury-Middlebury Patch October 5, 2012 More than a year after CSEA, SEIU, Local 2001
filed a complaint with the Connecticut State Board of Labor Relations, a
decision in favor of the town was rendered on September 24, 2012. "We are
happy that this question has been resolved," said First Selectman Gerald
"Jerry" Stomski in an e-mail to Patch. The
following timeline is from the state of Connecticut Labor Department's decision
in the matter of the town of Woodbury
and CSEA, SEIU, Local 2001. Continued at
…..
http://woodbury-middlebury.patch.com/articles/wdby-labor-draft
**********************
U.S. Files Civil Mortgage Fraud Suit Against Wells Fargo -
Bloomberg By Chris Dolmetsch and Dakin Campbell -
Oct 10, 2012 Wells Fargo & Co. (WFC) was sued by the U.S.
for hundreds of millions of dollars in damages over claims the bank made
reckless mortgage loans that caused losses for a federal
insurance program when they defaulted. The complaint filed yesterday in federal
court in New York, which alleges misconduct spanning more
than a decade related to the bank’s participation in a Federal Housing
Administration program, follows similar cases against other lenders, including Citigroup Inc. (C) and Deutsche Bank AG. (DBK) Read complete article at http://www.bloomberg.com/news/2012-10-09/u-s-files-civil-mortgage-fraud-suit-against-wells-fargo.html
**********************
New Details From Libya Consulate Attack: State Department
Abandons Claim Of Protest Outside Gates By AP/The Huffington Post Oct 10, 2012
The deadly September attack on a U.S. consulate in Libya was not
precipitated by an anti-American protest, as had originally been reported, the
State Department disclosed Tuesday night. According to reports from ABC and the Associated
Press, the State Department now acknowledges that "gunfire and explosions
near the front gate" were the first signs of danger precipitating the
attacks that killed Ambassador Christopher Stevens and three other Americans.This revelation stands in contrast to the story originally reported
by the Obama administration and others, who claimed
that a protest against the anti-Islam film "The Innocence of Muslims"
outside the American consulate was co-opted by violent extremists. The
administration has come under harsh criticism from conservative critics in
recent weeks over its actions before and after the attack. The first congressional hearing
on the subject is scheduled for Wednesday. Below is a detailed chronology of
the attack, as the State Department now claims it played out (via the AP):
Article is continued at ….. http://www.huffingtonpost.com/2012/10/09/libya-consulate-attack-protests_n_1953057.html
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Study: Costs will rise on mid-size firms from new healthcare
law ... By Sam Baker - 10/08/12 President Obama's healthcare law won't erode employer-based health
insurance — but it will raise some companies' costs by nearly 10 percent,
according to a new analysis from the Urban Institute. Although the law's critics
usually focus on small businesses, the new paper says medium-sized firms will
see the biggest cost increase. Mid-sized businesses — firms that have between
101 and 1,000 employees — would have seen a 9.5 percent jump in their total
healthcare costs if the Affordable Care Act had been fully in place this year,
the paper says. (Many of the law's key provisions don't take effect until
2014.) Read complete article at ….. http://thehill.com/blogs/healthwatch/health-insurance/260831-study-some-employers-would-see-major-cost-spike-under-healthcare-law
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Goldman Turns Tables on Obama Campaign - WSJ.com By LIZ RAPPAPORT and BRODY MULLINS
October 9, 2012, 6:07 a.m When Barack Obama ran for president in
2008, no major U.S. corporation did more to finance his campaign than Goldman Sachs Group Inc. GS +0.13%
This election, none has done more to help defeat him. Prompted by what
they call regulatory attacks on their business and personal attacks on their
character, executives and employees of Goldman Sachs have largely abandoned Mr.
Obama and are now the top sources of money to
presidential candidate Mitt Romney and the Republican Party. Continued at ….. http://online.wsj.com/article/SB10000872396390444752504578024661927487192.html
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73 members of Congress have championed bills that could
directly benefit themselves or their families by Kimberly Kindy, David S. Fallis and Scott Higham,
October 7 A California congressman helped secure tax breaks for racehorse
owners — then purchased seven horses for himself when the new rules kicked in.
A Wyoming
congresswoman co-sponsored legislation to double the life span of federal grazing
permits that ranchers such as her husband rely on to feed cattle. And a Pennsylvania
congressman co-sponsored a natural gas bill as Exxon Mobil negotiated a deal
that paid millions for his wife’s shares in two natural gas companies founded
by her great-great-grandfather. Those lawmakers were among 73 members of
Congress who have sponsored or co-sponsored legislation in recent years that
could benefit businesses or industries in which either they or their family
members are involved or invested, according to a Washington Post analysis. The findings
emerge from an examination by The Post
of financial disclosure forms and public records for all 535 members of the House and
Senate. Continued at …..
http://www.washingtonpost.com/politics/congress-members-back-legislation-that-could-benefit-themselves-relatives/2012/10/07/c2fa7d94-f3a9-11e1-a612-3cfc842a6d89_story.html
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PAC Track: What and where are the super PACs spending?
Connecticut firm at center of new 'Citizens United'
controversy By Michael Beckel, The Center for Public Integrity Oct 5, 2012 A million-dollar donation by a
foreign-owned corporation to a Republican super PAC has raised legal concerns
and opened up the controversial Citizens United Supreme Court decision to new
criticism. Restore Our Future, the super PAC supporting
Republican Mitt Romney's run for president, received a $1 million donation in
mid-August from reinsurance company OdysseyRe of Stamford, Conn., a
"wholly-owned subsidiary" of Canadian insurance and investment
management giant Fairfax Financial Holdings Limited. Fairfax Financial's founder is Indian-born V. Prem
Watsa. Watsa serves as CEO
and chairman and owns or controls 45 percent of the company's shares. He is
also the chairman of the board of OdysseyRe, the American
subsidiary. The law says that any foreign national is prohibited from
"directly or indirectly" contributing money to influence U.S.
elections. That means no campaign donations, no donations to super PACs and no
funding of political advertisements. But campaign finance law is not as clear
for U.S.
subsidiaries of foreign companies as it is for individuals. Article is
continued at …… http://www.ctmirror.org/story/17658/connecticut-firm-center-new-citizens-united-controversy
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Dark Money Group Told IRS It Wouldn't
Be Political-Then Spent $1 Million on Campaign Ads by Justin Elliott | @elliottjustin ProPublica, Oct. 4,
2012, A dark money nonprofit group that has run more than $1 million in ads in
the Ohio race for U.S. Senate told the IRS last year it did not plan to spend
any money to influence elections when it applied for recognition of its
tax-exempt status. ProPublica first reported on the group, the Government Integrity
Fund, after information from television station political ad files became
available online (see our Free
the Files project),
showing extensive spending by the Fund. New details emerge about the
Government Integrity Fund, which has run ads attacking Sen. Sherrod Brown in
the Ohio U.S. Senate race. Continued at …… http://www.propublica.org/article/dark-money-group-told-IRS-wouldnt-be-political-spent-million-on-ads
How Nonprofits Spend Millions on Elections and Call it Public
Welfare
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Excellent Resouce On Voter ID Laws throughout the Country by ProPublica: Updated: Everything You've Ever Wanted to Know
About Voter ID Laws by Suevon Lee
ProPublica, Oct. 2, 2012 Voter IDs laws have
become a political flashpoint in what's gearing up to be
another close election year. Supporters say the laws — which 30 states have now enacted in some form — are
needed to combat voter fraud, while critics see them as a tactic to
disenfranchise voters. We've taken a
step back to look at the facts behind the laws and break down the issues at the
heart of the debate. …….. When did voter ID laws get passed — and which states
have the strictest ones? The first such
law was passed as early as 2003, but momentum has picked up in
recent years. In 2011 alone, legislators in 34 states
introduced bills requiring voters show photo ID — 14 of those states already
had existing voter ID laws but lawmakers sought to toughen statutes, mainly to
require proof of photo identification.
The National Conference of State Legislatures has a helpful breakdown of states' voter ID laws and
how they vary. Continued at ….. http://www.propublica.org/article/everything-youve-ever-wanted-to-know-about-voter-id-laws
The New York Times - Temporary Voter Relief in Pennsylvania
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STATE COMPTROLLER LEMBO PROJECTS $26.9-MILLION DEFICIT FOR FISCAL
YEAR 2013
Report: Many nonprofits that help the
needy near fiscal cliff
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Visit the Federation’s Website for Previous Publications
http://ctact.org/
Which include:
Obstacles for Obama's health panel
- The Hill's Healthwatch
Merrill's Billboards Mix Public Service, Self-Promotion
Big stakes loom behind quiet races for
the General Assembly
GOP Sens. McCain and Graham tell
contractors to issue layoff notices
Capitol Assets: Congress's wealthiest mostly ... - shielded
from effects of deep recession Washington Post
Jobless rate falls below 8 percent for the first time in
nearly four years
RECOMMENDED: What's the real
unemployment rate?
Housing still impediment to U.S. growth: Fed officials
Click to read Labor Report:
www.ctdol.state.ct.us/csblr/decisions-pdf/1995/3290.pdf
Chicago teachers vote to approve 3-year contract
'Dysfunctional'
Public Pension Plans Need Radical Fix Now (Frank Keegan / State Budget
Solutions)
Connecticut Republicans run from Romney on Medicare
Himes:
Democrat on a tightrope
Four Takeaways From Jobs Report
Special Report: The casualties of Chesapeake's land grab across ...
Compare the Mill Rate in Your Town With Other Towns
Florida opens criminal probe into
voter registration firm