1) In Iowa Parents Are Lining up for Private Education Options
Amazing. In Iowa, on the first day the online application portal opened for education savings accounts (allowing kids to go to private and religious schools), the website was so overloaded with inquiries from eager parents, the system nearly shut down. Usually, that kind of thing only happens when Taylor Swift announces a new location for her tour.
Families up to 300 percent of the federal poverty level (currently $83,250 for a family of four), are eligible for the 2023-24 school year. Then, it is scheduled to rise to 400% for 2024-25, and to all Iowa families regardless of income 2025-26.
Congrats to one of our favorite governors - Kim Reynolds - for launching this popular and pro-education program. It makes you wonder why every state isn’t doing this.
2) And Right Next Door, Cornhuskers Slash the State Income Tax
As regular readers know, we at CTUP work closely with the folks the American Legislative Exchange Council (ALEC) to promote great state policies that will grow local economies.
So we are thrilled to announce that Nebraska is the latest state to join the 2023 Tax Rate Cut Movement. Jonathan Williams of ALEC provides the details:
“Last week, the Nebraska Unicameral Legislature passed substantial cuts to both personal and business income taxes. The highest income tax rate will be reduced to 3.99% from the current 6.84%. Nebraskans will also benefit from a new tax rate on business income, which will also be cut to 3.99% from the current 7.25% by 2027.”
This is great news, but we are still waiting for a governor/legislature to eliminate the state income tax entirely. Who will be the next Florida, Tennessee, or Texas?
3) The Incestuous Relationship Between AARP, United Health, and the Democratic Party
A major “deficit reduction” measure in Biden’s scam "Inflation Acceleration Act" was to impose price controls on new patented pharmaceutical drugs. This was supposed to SAVE the government more than $200 billion over the next decade, and lower Medicare costs.
But Tomas Philipson, an economist at the University of Chicago has found that Americans will suffer “health losses valued at $18 trillion” due to such factors as lost years of life, due to delaying the introduction of life-saving drugs. So, the societal costs are roughly two orders of magnitude higher than the government’s savings. Great idea, Joe.
What’s doubly scurrilous is that the AARP was a big cheerleader IN FAVOR of drug price controls even though a new McLaughlin poll finds that most seniors were against them because they delay cures for Alzheimer's, Parkinson’s, Cancer, MS, and heart disease.
Why would AARP support a policy that hurts seniors? One reason, as our friends at American Commitment have found, is that AARP receives about $800 million a year from UnitedHealth by receiving a 5% kickback from selling the health insurance giant’s policies to AARP members. In turn, AARP uses millions of dollars of this money to help elect Democrats to Congress.
In other words, AARP serves as a big money bridge between UnitedHealth and the Democratic Party. If you’re a member of AARP, you might want to consider switching to a conservative alternative, such as AMAC or 60 Plus Association.
4) More Evidence of Wall Street’s Woke War on America
Our study – which you can find at PensionPolitics.com – looking at the ESG-friendly proxy voting habits of some of Wall Street’s biggest money managers continues to have legs. Now everyone is coming out of the closet. Anson Fredricks, a former Anheuser-Busch exec, recently confirmed for Fox News our thesis that the pressure for U.S. companies to move left is coming from fund managers at some of the country’s biggest investment firms.
He went on to add that fund execs are also getting pressure from investors like the New York and California public employee pensions plans. According to Fredericks, these large investors are telling firms and managers that “if they’re going to manage their money, they have to commit to things like ESG — diversity, equity, inclusion — and adopt firm-wide commitments that they therefore then force onto all the major companies in corporate America.”
The purpose of our study “Putting Politics Over Pensions” was to create countervailing pressure from the mom-and-pop investors on the anti-woke side. So far, it appears to be working.
5) Why Not Lock Up the Shoplifters, Not the Merchandise?
Retail giant, Target, reports in its first-quarter earnings report that “theft and organized crime” may cost the chain $1.3 billion in losses this year. Who pays for this? The stores and then eventually prices rise on law-abiding shoppers to compensate for the cost of the theft.
So now retailers are retaliating to the shoplifting epidemic. In Chicago, one Walgreens store is experimenting with a new layout that locks away all but two aisles of products from shoppers (see photo). This is the kind of security measure usually restricted to expensive jewelry stores.
The NY Post reports that in the Big Apple retailers are locking away: dishwashing liquid ($2.19), lip balm ($2.79), toothbrushes ($3.99), candies ($3.99), and canned goods. Customers are required to ring a bell and then wait for employees to eventually get the products. Why? Because in New York, shoplifting of less than $1,000 is now a slap-on-the-wrist misdemeanor. No surprise then that retail thefts have spiked by 77% over the past five years.
We call this new leftist policy: crime and no punishment.
