Saturday, October 23, 2010

Richard Neal (D-MA2), Up for Re-election in 2010, Catches Heat for HR 3424, Taxing Reinsurance Carriers from Florida Press!

Congressman Richard Neal (D-MA2) is currently involved in the first challenge to his Congressional “career” since 1988. Neal is facing Republican, Tom Wesley, an international businessman and veteran on November 2nd. Wesley, who has recently been endorsed by former Massachusetts Governor Mitt Romney and Senator Scott Brown(R-MA), believes in fostering an atmosphere which is business friendly in order to keep and attract new business to both Massachusetts and the nation. Specifically, he opposes any tax increases which would prevent a business from being able to hire new employees.

With the U.S. having the highest corporate tax rate in the world (Tax Foundation) , and Massachusetts, separately taxing businesses, to the point where in the Massachusetts 2nd District, The City of Chicopee recently had to try to save 150 jobs at Calloway Golf. They Mayor, Michael Bissonette, offered to financially offset the tax corporations state and federal tax burden. Apparently between union demands and corporate tax rates, the company felt it would stand to survive in Mexico, where the tax rate is lower and there are no unions. Mayor Bissonette, even tried to work with Congressman Neal, in order to “hammer out a new type of taxation on locally made goods". Too Little to Late?

With the tax burdens of all businesses rising through taxes imposed by the House Ways and Means Committee, of which Neal is currently a member and hopes to become Chair, it is not unlikely that more jobs will be lost. More companies are likely to pull up stake across the Bay State and the nation, with Mr. Neal’s latest attempt at shaking down businesses - specifically Reinsurance Carriers.

According to the Florida Sun Sentinel Congressman’s Neal recently introduced HR 3424, which said bill, would tax the insurance that insurance companies carry to offset large claims. Re-insurance affects everyone - from homeowners to certain larger employers who self-fund their employee benefit packages and which are underwritten by reinsurance carriers. This tax, according the Sentinel article will make the availability of reinsurance in the State of Florida (and one can imagine any state, scarce, as companies decline to underwrite policies in the U.S. and or raise premiums,). This move will put an additional estimated burden of 800 million dollars on businesses and individuals in Florida alone.

Neal’s HR3424 is a short but telling read: when the nation’s unemployment is near 10%, the smart move, according to Neal, is to add additional taxes. This may be why a growing number of constituents are seeking new representation in the District. Although no formal polls have been taken, anonymous sources from inside the company hired to conduct a poll for the camping, suggest that Neal is in the fight of his life and may soon be retired.
As Tom Wesley states on his Issues page on his website www.tomwesley.com,
“We need to reduce the tax and regulatory burdens on businesses, especially small businesses. Complicated tax credit formulas don't create jobs; increased demand does. We also need to lower corporate income taxes that compel corporations to export jobs to lower tax jurisdictions. We can bring jobs back to this country”


Wesley has also made that point in every debate (the one debate on Public Television held in the Western side of the District and a debate on Channel 22, WWLP, where Neal declined to attend, giving the floor to Tom Wesley.)

Perhaps Neal was busy working on a new tax bill that will break the bones of business while campaigning on the fact that the stimulus he supported, as well as the Health Care Reform Act, have not lost jobs (which is documented to be false) rather has created jobs (government employees) for the district.

Neal, is known outside of his MA2 District as Nancy Pelosi’s and Irelands Tax Man on the Hill “ with good reason. The aforementioned moniker with article is available here, and is a suggested read for anyone in the MA2 who is on the fence as to whom to vote for on Nov. 2nd.

On the one hand one has a deeply entrenched (i.e. experienced) politicians who, as Neal recently stated in the only television debate he chose to participate:

Neal knows about Medicare and Social Security (as he is at retirement age and also cut billions in Medicare benefits), with good reason).

Who has voted in the last two sessions of Congress with the Nancy Pelosi.

Who has not had to spend this much time in the district since he left, in the 1980’s. (due to Mr. Wesley’s increasingly encroaching campaign and the allegedly high polling number of constituents who are prepared to elect anyone other than said Neal).

Wesley, on the other hand, never having held an office, has the right experience for both the District, the Commonwealth and the nations needs at this point.

Rather the devil one knows than the Boy Scout (Wesley, no kidding) one doesn’t, won’t work in this election. The Wesley campaign has a grass roots organization that has been building to Scott Brown proportions within the past two weeks, and with street teams knocking at doors, district wide, the people will have a chance to view Mr. Wesley’s resume and make an informed decision. There has also been an increase in local press coverage, which had been missing for the greater part of the cycle. Although to be fair to the press, it is difficult to get both sides of a story, when one of the subjects (Neal) is consistently not available.

Lastly, Mr. Wesley might want to thank Mr. Neal for his radio campaign; Neal who is running an advertisement on local station mentions being reelected, but not an opponent. Within the past week, the search for who is running against Richard Neal has grown to 25% of this blogs daily unique visitor searches. (Traffic ranges between 400 to 800 unique visitors per day). With few exceptions, those visitors are form cities and towns in the district.

To summarize: Taking the backdoor approach to taxing ones health, auto, homeowner and life insurance policies (which will necessitate an increase), in this economic climate, makes one believe the years of experience do not necessarily translate into making the right decisions to bring and keep jobs in the district, which is vital at this point. This blog (Tina Hemond) endorses Tom Wesley for Congress because he is honest and forthright (Boyscout), and smart (MIT - among other notable degrees) - it's time to vote for real resume and some change beyond only "hope".

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