Former U.S. Comptroller General David Walker is the primary author of a PricewaterhouseCoopers report “designed to shed light on the actual and relative financial position and financial posture of states so that stakeholders will have a better understanding of where their state stands as compared to others.” The Black Rock resident has written often on OIB about financial position and competitive posture of states including Connecticut as the poster child for poor fiscal integrity. The PwC report provides a state-by-state comparison.
From the report:
>While the subject of federal debt and deficits has been well-analyzed and debated, fiscal integrity and competitive posture at the state level has been largely overlooked. A study of state position and posture, however, reveals a number of success stories and in some cases, causes for serious concern. Many states are facing increasing challenges regarding how to reduce waste, constrain spending, improve performance, and maintain reasonable and competitive levels of taxation. In addition, some governments are experiencing serious competitiveness and financial challenges that are driven by a number of factors including: changes in the nature of the economy; outdated and inefficient organizational models and operating practices; unfunded retirement obligations; expanded welfare systems; excessive regulation; deteriorating infrastructure; and outdated tax systems. This paper presents a State Financial Position Index (SFPI) to help understand the nature and scope of the related challenges and to analyze commensurate responses.
The report also illustrates “Connecticut’s low SFPI (State Financial Position Index) ranking is driven in large part by its large unfunded pension and retiree health care obligations” in contrast to “Indiana, with its diverse economy, is an island of fiscal integrity in a region comprised of several states with serious fiscal and competitiveness challenges.”
David Walker has all these great solutions but it never seems to say to government if they are going to give tax cuts to the rich and fight two wars overseas how are we going to pay for it? I find it hard to follow what he writes when he doesn’t address the biggest money issues America has.
In addition, Connecticut ranks near the bottom for competitiveness based on the composite state competitiveness rankings for 2015. Connecticut’s citizens have demonstrated their willingness to “vote with their feet” since many businesses and individuals have exercised their option to move to other states, or have threatened to do so. As a result, Connecticut has become a consistent net outbound state.
Generous benefits, indexed to Connecticut’s costs, encourage pensioners to move elsewhere. Costs go up like clockwork; Bridgeport needs permanent capital to increase income to offset costs and spare the taxpayer.
(thud)
Black Rock’s David Walker on live TV tonight to bring us up to date on our state and city financial situation. Ch 88 at 8pm.
Ron,
The record is clear, I felt the invasion of Iraq, the second round of tax cuts, and the expansion of Medicare in 2003 were fiscally irresponsible. I have also made it clear that invading Iraq created a vacuum that contributed to the current state of affairs in the Middle East.
Dave, thanks for your reply. My question to you was why is it OK for the government not to pay for tax cuts for the rich and not to pay for two wars? We’re talking about trillions of tax dollars that could better serve the American taxpayers because it’s their money. Roads are falling apart, medical care is out of control, heavy tax burden on states and cities and many more issues too many to list but I don’t see where your plans are to resolve the big money issues that could help Connecticut and Bridgeport out.
Ron,
It’s not OK. I have addressed all of those issues and more in various books, publications, articles, speeches, etc.
Then what is your solution for those issues so those tax dollars can come back to Connecticut? The money is with the federal government and Connecticut has paid their portion of taxes so that should be the fight get our money back here.
David Walker continues to blame pensions and retiree health care obligations for the ills of America and Connecticut. He blames welfare for some of those problems while America sends billions of dollars to other countries while Americans go hungry.
Mr. Walker, is it wrong in a Judeo-Christian society to maintain a tax-based system of racism against people of color for the sole benefit of white privilege?
Donald,
When you buy something, do you pay for it at the same time in cash? Do you use a credit card instead for convenience and pay it off fully when the credit card statement comes due? Or do you finance it over months or years at interest rates that are high and add to your overall expense, thus leaving you fewer future dollars to spend? And maybe force more debt financing personally?
OK? Now apply the same logic to what a City Council or State legislature faces in spending and taxing. Retirement benefits are part of most employment compensation packages today in public and private employment. More than 15 years ago, the City was paying firefighters and police retirees on a pay as you go basis. Another strategy was brought forward and adopted. Ganim floated a Pension Obligation Bond for $350 Million that would be repaid over a 30-year period (and we are in year 16, I believe) at $30 Million per year, $16 Million part of the current Police budget and $14 Million part of the Fire budget today. From the fund are taken retiree incomes for about 800 retirees and widows with the balance of the funds invested widely so growth can occur. However, markets go down as well as up and when values were lost in two bad markets in the past 10 years, the size of the Plan A fund values has decreased to less than $90 Million today.
Instead of banging away at white privilege or any other color, why not focus on the GREEN? We are paying for a system where benefits have increased, but the public has never been given a chance to understand what the expense will be. How do you feel about that? You are more intelligent than to apply racist rhetoric against a broken system where some local and State governmental systems increase compensation, lessen work hours or responsibilities, expand retirement benefits and protect former workers from all risks associated with future incomes, etc. Why don’t we focus on the machinery itself, call for greater accountability where the thing purchased and the price to be paid are far more in evidence so that the taxpaying public can see what the choices are? Dave Walker can speak for himself, certainly, but when his attempt at sharing how our State compares to other states today is targeted as an attempt to maintain white privilege, if that is what you are alleging, it must be challenged. Donald, when you pay your state tax, or your City property tax, do you get a bill that identifies your race, and forces you to pay accordingly? Time will tell.
JML, why do you and David Walker always start at taking the working persons’ benefits away and never look up at who is really getting paid government benefits. What the federal tax dollars from Connecticut, what about America paying for the tax cuts that go to Wall Street and the tax cuts to the rich, or for two wars being fought overseas, why are they not being paid for? John, let’s deal with some real money, big money first because that money also comes from Bridgeport and the state of Connecticut, let’s start there instead of your starting point.
Ron,
You keep accusing me (as well as others of taking something away) of something I cannot remember saying. Can you research this often repeated comment (and that does not make it true) and show me where you think I am taking things away? That would be fair, no?
When private corporations took a look at retirement plans, they shifted risks, not at the expense of those currently retired, for the most part, but for others who were entering the pipeline and building up new employment benefits. Surely you are familiar with the concept? And, thank you I will stay with local subjects for the most part, because so few people are dealing with facts and then opinion. Most people go for opinion first and then fit facts to their rhetoric. Does not help focus on the real problems, and perhaps solutions. Anyone game for reality? Time will tell.
JML, I’m sure you are aware of something called a contract and collective bargaining where the union and the employer sit down in negotiation in good faith. Well, that’s what the firefighters and police unions did, good faith is the term that has a legal standing.
JML here is your posted figures. From the fund are taken retiree incomes for about 800 retirees and widows with the balance of the funds invested widely so that growth can occur.
How many of the 800 in plan A are widows and how many are retired cops and firefighters?
Andy, page 54 of CAFR 2014 indicates 799 retirees receiving benefits that would include widows of retirees receiving 50% benefits I would expect. The number is not further split out. Should the CC talk to the actuary for all the plans at least every other year for such info with public present to listen at least? Time will tell.
Donald,
You are way off base and obviously not very well informed about my views nor the tax system. The report is fact-based. Some people do not like to acknowledge the facts. The first step to creating a better future is to acknowledge you have a problem that needs to be solved; hopefully, sooner versus later.
Donald,
The report is about the states and not race or religion. With regard to retirement plans, the fact is, Connecticut overpays its state workers versus the private sector on a total compensation basis by more than any other state. This is directly attributable to its benefit plans versus cash compensation. Connecticut makes promises it can’t afford, does not fund and, as a result, may not be able to keep.
Selma was the best thing that ever happened to Donald Day. It scared the daylights out of white America. Fifty years later we have a $19 trillion debt and an inflation rate of 700% since 1965. What makes me an expert on this situation?
Answer: It made me a loser and DD a winner. It’s not a racial thing, it’s a human thing.
Of course you forgot to mention America’s wealth came from over 350 years of FREE labor, now tell how much is that amount and when will it get repaid?
This guy is tough on those who challenge me:
twitter.com/door24
How do you figure 350 years? Are you saying from the time of the first settlement until the present time white America has benefited from free labor? Please Ron, stop the rhetoric. While you’re at it, don’t forget the indentured people who came here from England. They were slaves only they had a target date to freedom. Ron, I don’t owe you or anyone else one red cent. For those who say I owe them, go to school and get a job.
www .youtube.com/watch?v=eh9WayN7R-s
Andy, first I’m not blaming you for anything. Think about this, at what point in American history did blacks become equal with whites? How many whites would trade their life to be in the same place as someone black who has the same thing that you they have in life, making the same pay, living in the same area, everything being the same, how many whites would say they wouldn’t mind being black?
My point about bringing up slavery was in reply to LE post to Donald Day. As far as how long slavery lasted, you pick a number. As far indentured people they had a chance to get their freedom after a set amount of years but more important they had protection, that protection was their skin color because they were the same color as their oppressors so they could move, change their name and start over in life. A black slave had his ID all over his body, they could never blend in.
The topic was about David Walker’s plan, and his plan always start with attacking union and public employee pensions and never the big-ticket money items where that money could have been better used in health care, pensions, tax cuts to the middle class.
Free labor morphed into Emancipation. But this is how Ron Mackey spells it: freedumb.
Emancipation from what, Jim Crow laws, separate but equal schools, employment signs that said blacks need not apply where blacks had to pay a poll tax in order to vote, or where the Constitution has the 3/5th clause where blacks were counted as 3/5th of a white person for taxing purpose.
JML, if America doesn’t talk about race, what are the important things being left unsaid? And what impact is race having on modern American life, politics and culture?
Fifty years after the March on Washington, our country is still dealing with inequities based on skin color and ethnicity, in voting rights, criminal justice, education and jobs. In spite of hard-won progress, we cannot fulfill our country’s potential until we squarely address the reality of racism and its consequences for our daily lives.
JML, you seem to be the voice of Bridgeport’s Republican conservative individuals. When someone criticized Ricky you spoke out, when I had the temerity to question David Walker you speak out. These are grown men who have a voice they have used on numerous occasions to express their opinions. I’m sure these two eloquent men can speak for themselves without the need for you interpreting what they are saying or answering the concerns of others. Time may tell, but you don’t have to.
Don, seeing as John Marshall Lee is a member of the NAACP here in Bridgeport, maybe he will bring these issues up at one of their meetings for a open discussion seeing as he can’t talk about it on OIB.
Will you be there tonight? Main Library 6:30 PM for general meeting of membership. I happen to be reading the American Slave Coast, a very haunting and provocative history of slavery in the US mainly, though the origins of the trade in Africa at the hands of Africans and the markets for such persons as property was also received in other countries including the islands to the South of the US for example.
I will challenge folks when I think their explanations are too simple and self-serving, for example. If you select Rick Torres and Dave Walker for your verbal grief while keeping your mouth generally closed about local abuses by Finch et al., then it may seem I am defending Republicans. But that is merely accidental, and a cheap way for you to characterize me as I go about trying to explain in detail how our City is working, how it is supposed to work, and how it may function better in the future, subject matter for all of us, including public safety folks who are retired. Each time Walker begins to get too close to your pet subjects, you raise issues that may be true but which do not help the understanding Walker hopes to share. When David ultimately leaves town, whenever that may be, and I have no privileged info, will any of you critics begin to lament the fact no administration had the guts, cojones, or wisdom to work with him on a given City fiscal problem? A lost opportunity? And Ron and Don, how many times have I suggested we break bread or have a cup of coffee together? More than a few? It’s still 203-259-9642. When will you call? Maybe we can talk about bias, stereotypes, and Whistling Vivaldi. Time will tell.
Donald,
You are the one playing the race card. Some people obsess with race. Please don’t be one of those people.
I’m sorry Dave, but as a black man in America everything that happens or goes on in America is about race. You would know that if you were perceptive or a black man, of which you are probably neither. Finally, I’m not familiar with this playing the race card thing with which you speak. Can you explain that to me?
Donald,
Thanks for your response. I am not a black man but am viewed by others as having strong emotional intelligence skills. I respect your views. My comment was based on the fact that you, Ron and others were posting race-related comments. Others posted religious-related comments. The report is not about either.
Dave, I was making a reply to LE’s post that had nothing to do with your subject and I saw a need to reply.
I don’t see how this report has anything to do with race. Granted, it could be something I am not seeing.
How does this report tie back to sins of white great great great great grandfathers that were perpetrated on black great great great great grandfathers?
Help me out here.
Dave, let’s talk about where the real blame should be placed. The majority of blame goes to the paid-off professional politicians in Washington. They have allowed ALL the major US companies to move all over the world because the other countries are company friendly and have lower business taxes. Ford motor company is building an assembly plant in Mexico that will make more cars there than Ford makes here.
Dave, you never go after the big guys, it’s always the cops, firefighters and average workers. You talk about our pensions and about our other benefits. Here is what I got along with my retirement, COPD, open-heart surgery, a pacemaker and blindness in one eye, almost if not all of these ailments are job related.
Hey Dave, tell me about the hedge fund managers and other corporate friends of yours making millions upon millions and paying a lower percentage in taxes than most working people.
Andy,
I have a lot of friends from many socioeconomic backgrounds. You obviously have not read my tax reform proposals that would improve tax equity while helping to grow the economy, create jobs, improve our competitive posture, and reduce debt/GDP to a reasonable and sustainable level over time. You also are evidently also unaware of the political reforms I advocate and my involvement in No Labels.
You are right, I have not read them but neither have I read how government plans on bring the jobs back to the USA that it has allowed to be outsourced all over the world. Just once when I have a computer problem I would like to speak to someone who speaks clear English and does not live in India.
Andy,
Thanks for acknowledging you have not read them. You are not the only person on this blog who makes comments that are inconsistent with my published views. By the way, current tax and regulatory policy serves to encourage rather than discourage offshoring. In addition, our current education and training system is not geared towards making sure that people have the skills and knowledge that can meet the needs of and capitalize on the opportunities offered by U.S. employers.
That’s a crock and a half.
They do not have the education and training to be call center operators.
Oh, and by the way, they all make a hell of a lot less than US minimum wages. But if Americans agree to make less, if the federal and state governments base minimum wage on supply and demand and not an actual number, if America is willing to bring back sweat shops, then we will find them jobs.
Bob,
You missed my point. I am not taking about call center operators. I am talking about higher skilled and higher paying jobs.
That is pure hogwash. The companies went off shore to avoid taxes and get basically slave labor (by US standards). If my views are inconsistent with yours, so be it. When did you become all-knowing? Qualified US labor never was the problem, it was taxes and wages and you know it.
City and state workers are not getting rich to be first responders in emergencies, fix schools, plow roads, etc. yet pensions and benefits are always being brought up.
Great saying the Republicans should remember, next time you are in need of a cop, CALL A CRACKHEAD.
Frank,
What does being a Republican have anything to do with what the report says? News flash, there are many government workers who are also Republicans! In addition, one of my brothers was an undercover drug agent and a Fire Marshall in Florida. I am well aware of and respect his service. At the same time, check out Florida’s statistics in the report and compare them to Connecticut’s. Benchmarking is key and that is what the report is based on.
I think it’s important readers read about this company to see what they are truly about, PricewaterhouseCoopers.
Ron,
PricewaterhouseCoopers (PwC) is the largest professional services firm in the world. PwC Public Sector, which I am associated with, is the only professional services firm in the world to win the prestigious Baldridge Quality Award.
Must read Dave Walker
www .nytimes.com/2015/12/21/us/politics/hospitality-and-gambling-interests-delay-closing-of-dollar1-billion-tax-loophole.html
Plenty of blame to go around without mentioning unions, wages or benefits. Shame on both the Democratic House and the Republican House, not to mention the Senate.
A billion dollars in tax loopholes to casino owners, real estate developers and Wall Street.
A billion dollars to build a Navy destroyer the Navy says it doesn’t need.
$640 million for the Coast Guard the Coast Guard says it doesn’t need.
And these are just the most easily found pieces of pork.
But instead of dwelling on this, let’s pick on the working stiffs and their salaries and benefits. It’s much more fun to do so.
Bob,
I stated publicly the bills were fiscally irresponsible.
Dave, once again, where is your plan to deal with those irresponsible federal spending? Okay, you don’t agree, show us what you are doing and saying to change those federal spending problems.
Bob Walsh, great piece and do you notice how Dave Walker never addresses the big money issues on OIB, he just states “I stated publicly the bills were fiscally irresponsible.” But he has a lot to say about Bridgeport and about Connecticut but not about the federal government he worked for.
Auditing giant PricewaterhouseCoopers was slapped with a $25 million fine for helping a Japanese bank launder money for terrorist states like Iran, Sudan and Myanmar. PwC helped the leading Japanese bank hide its ties to the terrorist states by whitewashing the language in its audit report to make it less likely it would draw the attention of Ben Lawsky, superintendent of the New York Department of Financial Services, and other regulators.
PWC has a financial interest in being known as the consulting service that does the right things for its clients and that means providing biased reporting in favor of the banks. This is the rule, not the exception. What say you, Mr. Walker?
Donald,
You are showing your ignorance. The point you raise has nothing to do with this report, PwC Public Sector, or me. By the way, PwC Public Sector does not do audits. In addition, we funded this report internally. Finally, I have been associated with PwC Public Sector since March of 2015. I am proud of that association. Hopefully, you are proud of yours.
So Walker starts with a report about comparing States and the resident editorial board is making him responsible for Congressional gridlock and choices, for failing to see how the institution of slavery in the US from the early 17th Century through a law banning slave imports in 1808 and later the Emancipation Proclamation served to create a terrible history that precedes our country in many ways into the 21st Century. Is it better to not know, to remain ignorant? Or to learn and battle injustice as it shows up today? Is injustice the province of one political party, the Republicans with Lincoln having signed the Emancipation Proclamation? And would that mean Bridgeport for instance, with such a solid Democrat identity is full of racial harmony and free of discord and injustice? Ron? and Don? Time will tell.
JML, you know better than that and to think you would say something like you wrote is really sad.
Ron,
Give me a call, please. I said many things in this thread. What is it that caused you ‘sadness’ at this joyous season? Time will tell.
By Mychal Massie on July 6, 2015 in Daily Rant, Race & Politics
On July 4, 2014, I was a guest speaker at the Racial Reconciliation and Healing event hosted by Rev. James David Manning of ATLAH Ministries held at Gettysburg Battlefield, in Gettysburg, PA. In the course of my speech, which I gave from the same place President Abraham Lincoln gave his Gettysburg Address, I quoted Booker T. Washington saying: “We went into slavery a piece of property; we came out American citizens. We went into slavery pagans; we came out Christians. We went into slavery without a language; we came out speaking the proud Anglo-Saxon tongue. We went into slavery with slave chains clanking about our wrists; we came out with the American ballot in our hands.” (Address to Hamilton Club, Chicago, 1895)
Are we to believe that blacks today have it harder than those Booker T. Washington referenced or are we supposed to believe he didn’t understand the true nature of his situation? My point being, considering the unlimited opportunity blacks have in America today how can anyone ascribe to the debilitating heterodoxy that the white man is impeding black progress.
The transplendent truth encapsulated in those historic words from Booker T. Washington speaks for itself. In the course of my speech, I, like Washington, reminded the attendees gathered on that hallow site, which included persons from India and Great Britain, that if there is to be healing, blacks must realize what they have and what the hand of “Providence” did for them. I know that it is more popular to wallow in apathy and self-victimization, but that is the very antithesis of what “Providence” has provided.
What I had in my speech but did not share, having made the point differently, were the following words from the Emancipation Proclamation issued by President Lincoln January 1, 1863: “And I hereby enjoin upon the people so declared to be free to abstain from all violence, unless in necessary self-defense; and I recommend to them that, in all cases when allowed, they labor faithfully for reasonable wages.”
The point here should be obvious: blacks were not freed to become dependents on the government plantation. Quite the opposite.
It is not the white man who has prevented blacks from seizing upon the opportunity available to all. It is the debilitating animus, blame, self-segregation, and self-victimization they wallow in. Those are without question harsh words, but they are not untrue. Booker T. Washington understood the need for blacks to be self-determinative and he understood that the way same was accomplished was by learning a trade and embracing the “God of Providence” for the blessings “He” had bestowed upon them.
But instead, blacks cursed the “God of Providence” as a white man’s God and wholistically bought into the message of immiseration.
Lincoln implored blacks in the Emancipation Proclamation that they “abstain from all violence, unless in necessary self-defense.” But instead, blacks have elevated the killing of one another to pandemic levels. In Chicago over the same July 4th weekend that I gave my speech, 80 people were shot resulting in 12 fatalities, nearly all of whom were black.
It gets even worse. According to Rich Lowry writing for National Review: “Overall, according to Chicago magazine, the rate of nonfatal gunshot injury in Chicago was 46.5 per 100,000 from 2006 to 2012. But it was only 1.62 per 100,000 for whites. For blacks, it was 112.83 per 100,000. For black males, 239.77, and for black males aged 18–34, 599.65, or ‘a staggering one in 200.'” That’s one in every 200 black males between the ages of 18-24 being shot. Blacks can hate whites and blame former President George W. Bush, but neither George W. Bush nor white people are roaming the streets and mini-marts murdering black teenagers. It’s not whites selling the drugs that are destroying black families and black neighborhoods. It is not whites who are pimping black women drug addicts. It is not whites breaking into black homes. It is their black neighbors and the black hoodlums who look exactly just like them and who live next door to them.
At the time the slaves were set free, Lincoln said in the Emancipation Proclamation: “that in all cases where allowed, [blacks should] labor fruitfully for reasonable wages.” The operative words were then and are now “labor fruitfully for reasonable wages.” They did not mean then nor do they mean now blacks should become government dependents. Nowhere in the Emancipation Proclamation was it suggested in any way that the government would provide special dispensation based on the skin color of the slaves.
I also said in my speech that day that it was time for whites to get over guilt for that which they are not guilty nor had any part in. I also proffered the question of where anger and resentment of whites has gotten blacks? I asked blacks if they were better off harboring such emotions?
Neither July 4, 1776 nor January 1, 1863 nor June 19, 1865, was Independence Day for the slaves. Independence Day for the Africans brought here as slaves was the day they were captured by the Ashanti and Dahomi African tribes (of modern day Benin and Ghana) and sold to Muslims slave traders, who in turn sold them to slave traders doing business in America. Because as I reminded a young man who argued with me pursuant to the importance of racial assignations (for blacks at any rate) based on Marcus Garvey’s Back to Africa movement–the legacy of Garvey is Liberia, i.e., economic despair, unimaginable poverty, brutality, disease, ad nauseum.
It is a certainty that blacks, have as did the Irish and others coming to America suffered. But it is equally as true, if not more so for blacks, that they were brought here many long years ago “with the chains clanking about [their] wrists; but [they] came out with the American ballot in [their] hands.” Would Oprah Winfrey be a billionaire if her ancestors had stayed in Africa? Who would Jesse Jackson and Al Sharpton be shaking down for money if their ancestors had not come here? How many of the inventions and innovations directly attributable to blacks would America and the world enjoy today if African ancestors had not been brought here?
As I closed my speech at Gettysburg on July 4th, I called those in attendance to remembrance that the very grass their feet were standing upon had been grown in the blood-soaked soil of freedom. Something race-mongers would have us forget.
Rev. James David Manning of ATLAH Ministries, you have got to be joking, right? OIB readers please look up James David Manning of ATLAH Ministries and you decide if anyone could even respect or believe him. This guy is a jerk.
Quentin, you quote ATLAH, probably the most homophobic, asinine, imbecilic piece of garbage ever created. REALLY. You quote this garbage to buttress what point of view? You should be ashamed of yourself.
DD and Ron, you’re right and I apologize!
I let this race baiting get the best of me.
*** Point fingers all day but bottom line is the 1%-ers need to pay more of a fair share in taxes instead of the middle class! ***
Ron,
I have written books, reports, articles, speeches, testimonies, Town Hall Forum materials and many other things on these issues, including outlining proposed solutions. I do not have the time nor the space to address these issues in depth on this blog. People need to do their own research if they really care. Most don’t. By the way, the report is about the states and not the federal government. The only connection is CT and other troubled states need to get to work to restructure their finances and improve their competitive posture before the federal government does.
Dave, you find plenty of time to tell Bridgeport and Connecticut officials what they should do but you can’t find time on OIB to tell us what the federal government should do with our tax dollars from Connecticut and Bridgeport and that’s where the real motherlode of tax dollars are. You were employed by the federal government so you know what the financial issues are but not you, no you want to go after the low-hanging fruit, unions and middle class workers and not the billions of tax dollars that is given away or goes to unpaid-for wars and tax cuts. Start there Dave, where the real money taxpayers pay is.
Ron,
With all due respect, clients and decision makers understandably get more of my time and thoughts. I only have a limited amount of time for blog posts. You obviously don’t know what I have proposed for federal tax reform based on your comments. For example, we need to streamline and simplify our tax code. We need to dramatically reduce tax preferences for both corporations and the wealthy while lowering tax rates and improving the international competitiveness of our corporate tax structure. From an individual tax perspective, we need more people to pay some income taxes and we need the wealthy to pay a higher effective tax rate.
Ron,
How reasonable is it to ask a financially trained individual with unique experiences in private accounting and Federal service to hold forth on the subject you wish to engage him on, when you aren’t willing to get out of your armchair to meet a Bridgeport neighbor or two? Time will tell.
JML, what does one have to do with the other? He puts himself out there as an expert, he writes on OIB without me or anyone else and tells us what Bridgeport and Connecticut needs to do without anybody asking him. So, why can’t this self-proclaimed expert share with OIB readers how it’s okay the federal government doesn’t have to balance the federal budget and still spend money that Congress passes.
Ron,
You really do need to read more things than this blog.
Dave, I understand you can’t answer my questions but what you should do is what you said you were going to do and that is for you to finish moving from Bridgeport. Don’t be concerned about what I read or what I say, just like I’m not concerned about what you read.
Ron,
I did answer your question and if you took the time to read Comeback America, Connecticut at Risk and my many other publications you would find answers to your many other questions.
Dave, I find it strange when I read things you are suggesting, nowhere are you telling the mayor or the governor to read Comeback America, Connecticut at Risk instead you write about certain things like cutting health care and pensions but when I ask you about where the real big money is your reply is to read your book, well, that’s what you should state here on OIB, just tell everybody to read your book and leave it at that.
Ron,
The book I mentioned was a National Bestseller and was read by a number of top federal government officials and several members of the Simpson/Bowles Commission. Many of their recommendations were consistent with material in the book. The other publication was read by a number of key officials in CT. Unfortunately, the biggest deficit in government today is a leadership deficit. You obviously haven’t read the book and publication or you would not be asking some of the questions you have on this blog. That is your right just as it is my right to not answer questions that I have already addressed in the publications I have referenced. Good night.
Dave, that’s great but I asked you about America fighting two wars overseas that were never paid for. I asked about tax cuts to the rich and for Wall Street that were not paid for and that were approved by both the House and the Senate and there is no plan to pay for them now. Now I didn’t ask you if you agree with what happened but tell us a few suggestions that you provided the federal government to solve those issues. Your answer to me is read your book. States are hurt by that type of careless spending taking tax dollars from Connecticut which could be better used in the states that send that money to Washington but you want the cities and states to cut their workers benefits but nothing is said about the federal government, oh that’s right read your book but you can tell us what on OIB what to do here.
Ron,
Do you read my posts on OIB in full? I already said I opposed the tax cuts and invasion of Iraq in 2003 and both were a mistake and fiscally irresponsible. I also outlined a high-level framework for tax reform. I really don’t have time to play your games. I have not seen you be directly involved in any federal, state or local reform efforts in recent years. I am involved in all three. You should be too in whatever way you can be. The stakes are high and our future is at stake.
Dave, this is not about me, you are new to Bridgeport so you have no idea of who I am what I’ve done, what involvement I have had with anything. I’m here to talk about Ron Mackey.
Your starting point in talking about financial issues doesn’t go back far enough. You only discuss David Walker’s viewpoints and they are the only answers needed. I’ve included your 60 Minute interview and I’ve also included David Stockman’s point of view. Mr. Stockman addresses the questions I asked you. You limit the main problem as Medicare, Medicaid, health care and union pensions. Where is the discussion on how to fix these problems besides cutting them first? What is the moral way a society should deal with those who are elderly and sick? Where is the leadership and leaders in trying to find answers with the candidates running for President of the United States? You make some really good points but where is the desire and need to solve these problems?
“Former U.S. Comptroller General David Walker on The Federal Fiscal Crisis”
youtu.be/xjmCiDB_72g
David Stockman: The US Is Fiscally, Morally, Intellectually Bankrupt
youtu.be/4oTAcRJxx8k
Ron,
You are wrong again. The book and my unprecedented 10,000 mile Fiscal Responsibility bus tour through 37 states in 2012 addressed budget process and controls, taxes, defense, Social Security, Medicare and Medicaid, health care, government organization and operations, and political reforms. The proposed solutions I outlined achieved 68-90+ percent support for representative groups of voters. I have also conducted a search for your involvement over the years and there is not much there other than in connection with discrimination issues. I tried to reason with you but I am done. Happy Holidays.
Dave, thanks and Happy Holidays to you and yours. I don’t hear or see anyone on the national level talking about your solutions.
Ron,
You need to look harder and recognize the difference between primary and general elections in a Presidential race. The President is key to making real change happen at the federal level just like the Governor and Mayor are at the state and local levels. Leadership makes all the difference. I know most of the Presidential candidates from both parties. As JML would say, time will tell! Happy 2016!