Paul Krugman, a long time professor and teacher of economics confirmed in a Times Picayune opinion editorial of 12/13 what PolitiDose reported long ago in commentary. The Trump - GOP tax reform plan is not a plan at all but a scam. He also points out correctly the scam will not pay for itself as Trump and the GOP has been trying to tell with lies and follows the same failed theory of the Reagan and Bush 43 tax cuts that never paid for themselves.
Everyone of those 16 years of the Reagan and Bush tax cuts ended in deficit spending. Krugman also points out that Paul Ryan, speaker of the U.S. House has tried to sell the same lies over the years with tax cuts and it was PolitiDose who pointed out long ago that Ryan and Trump were one and the same on the subject matter.
It was President Clinton who raised taxes on the wealthy, balanced the budget, created a economy for all that produced a record number of jobs. That happened because his tax plan was coupled with a real economic plan that reached all walks of life. The poverty rate dropped on Clinton's watch, stayed the same on Reagan's watch and increased on Bush's watch.
Krugman goes on to say that there was no legitimate analysis made that points to the tax cuts paying for themselves like Trump and his treasure Secretary Steve Mnuchin are trying to sell. The trumpet man and his republican ditto heads exhibit their lack of respect for the average American and the country. America is in its 9th straight year of economic expansion, the world economy is in the best shape in 20 years and moving forward, corporate America is doing well and Trump and the GOP want to reward them and the top 1% with even more in the form of lower taxes that will increase even more the disparity in income between the wealthy and the middle class.
So yes my fellow Americans, Trump and the GOP's tax scam is truly a fraud and scheme no matter the spin they try to put on it and when the republican controlled congress passes the plan and sends to the White House for Trump's signature, he and the GOP will gloat and tell the people how great it will be for America. What a shame that the President and the GOP in a responsible position have to turn to lies in governing. And that really says it all.
This commentary written by Joe Lorio
Thursday, December 14, 2017
Sunday, December 10, 2017
The Economy and Job Creation For November
The U.S. Labor Department reported the U.S. economy created 228,000 jobs in November and the unemployment rate held at 4.1%. It was the 86th straight month of positive job creation and the economy is in its 9th straight year of expansion. Some economist reported to be disappointed since the November job number fell below October's number of 261,000 jobs. Others said they see a slow down in the job numbers.
The Labor Department also reported that ten full months under the Trump administration (February thru November) the economy added an average of 174,000 jobs per month and that during the same 10 months under President Obama in 2016 the economy added an average of 187,000 jobs per month. When and if the republican controlled House and Senate agree on their tax plan and Trump signs into law don't be surprised if the economy and job creation does not meet their predictions. Precedent tell this writer that it won't. So pay little attention to what you hear about the economy from TV shows that specialize in talking about financial matters. They were wrong about both the Reagan and Bush tax cuts.
Slowly but surely we will arrive at a point as to what path the economy will take. The stock market is over priced and is being driven by the 1% who own 90% of all stocks and bonds. It could very well become a market that declines 40% or more as it did during the Bush Presidency. The big shots are urging the feds to increase interest rates and they are led by Trump himself. The economy does not act too kindly to that prospect, especially over the long term.
This writer would feel more comfortable if a democrat was in the White House leading the country because of precedent.
This commentary written by Joe Lorio
The Labor Department also reported that ten full months under the Trump administration (February thru November) the economy added an average of 174,000 jobs per month and that during the same 10 months under President Obama in 2016 the economy added an average of 187,000 jobs per month. When and if the republican controlled House and Senate agree on their tax plan and Trump signs into law don't be surprised if the economy and job creation does not meet their predictions. Precedent tell this writer that it won't. So pay little attention to what you hear about the economy from TV shows that specialize in talking about financial matters. They were wrong about both the Reagan and Bush tax cuts.
Slowly but surely we will arrive at a point as to what path the economy will take. The stock market is over priced and is being driven by the 1% who own 90% of all stocks and bonds. It could very well become a market that declines 40% or more as it did during the Bush Presidency. The big shots are urging the feds to increase interest rates and they are led by Trump himself. The economy does not act too kindly to that prospect, especially over the long term.
This writer would feel more comfortable if a democrat was in the White House leading the country because of precedent.
This commentary written by Joe Lorio
Saturday, December 9, 2017
Why President Trump Hates America's Institutions and Regulations.
It is because they are a protection and safeguard for the country and its people against a President who would like to bring his corrupt business practice to the White House and operate as an autocrat with no checks and balances. It is how the trumpet man lives his personal and business life and shows respect to no one.
The CIA and the FBI are the bad ones according to Trump because they are responsible for uncovering Russia's interference with the 2016 Presidential election in favor of Trump and now the subject of an investigation by a special council that leads to the door step of Trump and family members. Four of Trump's campaign people have already pleaded guilty and Trump knows his Presidency is in jeopardy so he tries to destroy the credibility of those two institutions.
Ditto the news media for reminding the people about Trump's every day lies. The corrupt President who first used "fake news" has tried to pass the buck to the news media. It was the news media that made public the tapes that exposed the trumpet man's corrupted actions about how he abused women. He feels he is above the law and can do any thing he feels like doing.
The roll back of so many rules and regulations put into place by President Obama to protect the country and its people against abuse by business falls squarely into his autocrat persona of little or no regulations for business to engage in corrupt acts that directly affect the country and its people in a negative way.
The American people can not allow this President to continue his destructive behavior and should make their voices heard. The greatest threat to America and what America stands for comes from within and not from abroad. The GOP in congress will not help because they and Trump are one and the same. Ten plus months in office and Trump is still the regressive President who created a swamp that is corrupting and UnAmerican. Impeachment is still the only answer for this President.
This commentary written by Joe Lorio
The CIA and the FBI are the bad ones according to Trump because they are responsible for uncovering Russia's interference with the 2016 Presidential election in favor of Trump and now the subject of an investigation by a special council that leads to the door step of Trump and family members. Four of Trump's campaign people have already pleaded guilty and Trump knows his Presidency is in jeopardy so he tries to destroy the credibility of those two institutions.
Ditto the news media for reminding the people about Trump's every day lies. The corrupt President who first used "fake news" has tried to pass the buck to the news media. It was the news media that made public the tapes that exposed the trumpet man's corrupted actions about how he abused women. He feels he is above the law and can do any thing he feels like doing.
The roll back of so many rules and regulations put into place by President Obama to protect the country and its people against abuse by business falls squarely into his autocrat persona of little or no regulations for business to engage in corrupt acts that directly affect the country and its people in a negative way.
The American people can not allow this President to continue his destructive behavior and should make their voices heard. The greatest threat to America and what America stands for comes from within and not from abroad. The GOP in congress will not help because they and Trump are one and the same. Ten plus months in office and Trump is still the regressive President who created a swamp that is corrupting and UnAmerican. Impeachment is still the only answer for this President.
This commentary written by Joe Lorio
Thursday, December 7, 2017
Editorial Opinion Writers: Out of Step and Behind The Times
What PolitiDose published long ago, editorial opinion writers are just now reporting. The sad part is not only their tardiness, but their failure to inform at critical times and allow the fake news to take root. In this case the issues are Donald Trump and the republican party. In the case of Donald Trump, he portrays himself as an outsider who is above it all. In the case of the republican party, they wear the self proclaimed mantle of conservatism and rail against federal deficits.
As it pertains to Donald Trump, editorial writers are now of the opinion that Trump and the republican party are one and the same. Surprise, surprise!!!!! They have seen the light of Trump and the President's position on the issues since the election. But readers of PolitiDose knew that PolitiDose published several commentaries during the 2016 campaign describing why and how Trump and the party are one and the same.
As it pertains to the republican party, editorial writers just recently discovered that republicans could care less about deficit spending when their tax bill adds $1.4 trillion to the national debt. In fact, they wrote about how the party was the party of conservatism and opposed deficit spending in the past. But the facts of the past do not back that up since no republican administration has balanced the federal budget since Ike in 1960. PolitiDose long ago and in several commentaries demonstrated how the party was not conservative in fiscal matters at all and even wrote a special commentary about their record deficit spending habits.
Yes, editorial writers should have know long ago Trump and the GOP are one and the same and that the party itself has actually been a deficit producing machine since President Eisenhower. And yes, you read it here first in PolitiDose, your daily dose of political commentary and long ago.
This commentary written by Joe Lorio
As it pertains to Donald Trump, editorial writers are now of the opinion that Trump and the republican party are one and the same. Surprise, surprise!!!!! They have seen the light of Trump and the President's position on the issues since the election. But readers of PolitiDose knew that PolitiDose published several commentaries during the 2016 campaign describing why and how Trump and the party are one and the same.
As it pertains to the republican party, editorial writers just recently discovered that republicans could care less about deficit spending when their tax bill adds $1.4 trillion to the national debt. In fact, they wrote about how the party was the party of conservatism and opposed deficit spending in the past. But the facts of the past do not back that up since no republican administration has balanced the federal budget since Ike in 1960. PolitiDose long ago and in several commentaries demonstrated how the party was not conservative in fiscal matters at all and even wrote a special commentary about their record deficit spending habits.
Yes, editorial writers should have know long ago Trump and the GOP are one and the same and that the party itself has actually been a deficit producing machine since President Eisenhower. And yes, you read it here first in PolitiDose, your daily dose of political commentary and long ago.
This commentary written by Joe Lorio
Monday, December 4, 2017
President Trump and The GOP Senate Pass Their Tax Scheme and Fraud - -Then Claim It Was An Accomplishment.
The trumpet man and the GOP lead congress have been AWOL on governing our great country since they took control of all three branches of the government in January, so they were hard up to take credit for any accomplishment. And true to their nature and ideology, they are talking accomplishments since the Senate passed their tax bill even though the bill is a scheme and fraud that does not measure up and adds more than $1.4 trillion to the national debt over the next 10 years which is in addition to the projected $10 trillion already predicted for that period.
The House and Senate will have to reconcile the difference in the two bills. The Senate voted to pass their bill 51-49 with all democrats voting no and one republican no vote. All of Louisiana's republican reps in congress voted for the two bills and little boy Steve Scalise made the silly statement that the bill will jump start the economy. Scalise is so out of touch and full of it and a insult to common sense. The economy is actually in the ninth straight year of economic expansion and job creation and economist say the economy is near full employment. That, thanks to the policies of President Obama and the democratic controlled congress who passed the President's plan when they controlled both houses of congress in 2009 and 2010.
Over 10 months in office, Trump and the GOP answered the question asked by PolitiDose in a commentary dated 12/24/16 titled, "What Will The New Year Bring," A Continuing Story. Trump and the GOP have chosen a regressive path on every issue facing America and will harm the country and the people in due time for all to see.
This commentary written by Joe Lorio
The House and Senate will have to reconcile the difference in the two bills. The Senate voted to pass their bill 51-49 with all democrats voting no and one republican no vote. All of Louisiana's republican reps in congress voted for the two bills and little boy Steve Scalise made the silly statement that the bill will jump start the economy. Scalise is so out of touch and full of it and a insult to common sense. The economy is actually in the ninth straight year of economic expansion and job creation and economist say the economy is near full employment. That, thanks to the policies of President Obama and the democratic controlled congress who passed the President's plan when they controlled both houses of congress in 2009 and 2010.
Over 10 months in office, Trump and the GOP answered the question asked by PolitiDose in a commentary dated 12/24/16 titled, "What Will The New Year Bring," A Continuing Story. Trump and the GOP have chosen a regressive path on every issue facing America and will harm the country and the people in due time for all to see.
This commentary written by Joe Lorio
Saturday, December 2, 2017
Another Trump Appointee Pleads Guilty In The Russian Investigation.
Michael Flynn, Donald Trump's national security adviser during the 2016 campaign and who was later appointed as Trump's National Security Adviser when Trump took office pleaded guilty to lying to the FBI concerning his previous statements to the FBI in relation to his contacts with Russia. This is the fourth person convicted by the investigation of special prosecutor Robert Mueller of people who worked for and with the Trump campaign.
According to Flynn's statement filed with the court he indeed met with Russian officials and discussed the sanctions placed on Russia by President Obama because of their involvement in the 2016 Presidential election and also discussed having Russia vote against a U.N. resolution condemning Israel or postpone it until Trump took office. He lied about both originally. His statement to the court also said a high level official in Trump's transition team asked him to make the contact with Russia and other foreign officials. All was covered in a Huffington Post story dated December 1.
There appears to be no doubt that Trump's campaign colluded with Russia and tried to undermine President Obama's orders while he was still President. That is the act of a traitor and this writer believes a rational person would conclude that Trump, who was President elect at the time knew of and approved those contacts by Flynn. It fits in with Trumps asking FBI director James Comey to drop his investigation of Flynn and the most recent disclosure that Trump asked the republican controlled Senate Investigation Committee to end its hearings into the Russian collusion matter.
When will the next guilty plea or indictments come down from Mueller's investigation? Time will tell and probably will be soon. When it does, it just might be the one that points the finger at Trump clearly.
This commentary written by Joe Lorio
According to Flynn's statement filed with the court he indeed met with Russian officials and discussed the sanctions placed on Russia by President Obama because of their involvement in the 2016 Presidential election and also discussed having Russia vote against a U.N. resolution condemning Israel or postpone it until Trump took office. He lied about both originally. His statement to the court also said a high level official in Trump's transition team asked him to make the contact with Russia and other foreign officials. All was covered in a Huffington Post story dated December 1.
There appears to be no doubt that Trump's campaign colluded with Russia and tried to undermine President Obama's orders while he was still President. That is the act of a traitor and this writer believes a rational person would conclude that Trump, who was President elect at the time knew of and approved those contacts by Flynn. It fits in with Trumps asking FBI director James Comey to drop his investigation of Flynn and the most recent disclosure that Trump asked the republican controlled Senate Investigation Committee to end its hearings into the Russian collusion matter.
When will the next guilty plea or indictments come down from Mueller's investigation? Time will tell and probably will be soon. When it does, it just might be the one that points the finger at Trump clearly.
This commentary written by Joe Lorio
Thursday, November 30, 2017
The Oil Industry and Price Manipulation.
Everyone who drives an automobile realizes the price of a gallon of gas has been on a steady upward trend. Prior to this upward trend gas prices were steadily going down below the $2 mark for a regular gallon of gas because there was a huge surplus of oil and gas on the world market and growing. So the oil producing countries decided to cut back production by 1.8 million barrels a day of crude oil to work off the surplus so prices for a barrel of oil and gallon of gas could increase. Their agreement expires in March 2018. The price of a gallon of regular gas in the Metro New Orleans area averages around $2.25 a gallon.
Now we read where those oil producing countries are meeting again and want to extend the cuts that expire in March to the end of 2018 to continue working off the surplus and keep the upward trend for the price of oil and gas. They will meet again soon for a final decision. PolitiDose has commented about this price fixing many times in the past and even explained why the U.S. would never achieve oil independence.
The oil and gas industry are able to have it both ways. They can over produce at high prices and then when prices begin to fall because of that over production, they meet and decide to cut that production and never really pay a price for their manipulation of the market. And for that, the American oil industry receives billions of dollars in tax breaks.
What the U.S. should be doing is following Europe and Asia's lead in developing alternate fuels for the present and future in a big way. That new industry will fuel the economy and jobs for many years to come. But Trump has other ideas, he is turning the oil industry loose to develop oil and gas in the most pristine places in the U.S. and suspending safety regulations imposed on the industry for good reasons.
So in the U.S., the merry go round continues on the price of a gallon of gasoline and barrel of oil because of manipulation. Prices at the grocery store, the malls, on line and other retail purchases stay within the norms of price fluctuations and all those outlets offer price reductions on a regular basis. Competition rules, but in the oil industry, prices are manipulated by the greedy oil companies.
It is really a sad story that our elected officials have failed to address. And to top it off, the industry is allowed to destroy the environment with impunity by their operations. Thank goodness Trump and the GOP were not in power when the BP oil explosion and spill took place in the Gulf of Mexico.
This commentary written by Joe Lorio
Now we read where those oil producing countries are meeting again and want to extend the cuts that expire in March to the end of 2018 to continue working off the surplus and keep the upward trend for the price of oil and gas. They will meet again soon for a final decision. PolitiDose has commented about this price fixing many times in the past and even explained why the U.S. would never achieve oil independence.
The oil and gas industry are able to have it both ways. They can over produce at high prices and then when prices begin to fall because of that over production, they meet and decide to cut that production and never really pay a price for their manipulation of the market. And for that, the American oil industry receives billions of dollars in tax breaks.
What the U.S. should be doing is following Europe and Asia's lead in developing alternate fuels for the present and future in a big way. That new industry will fuel the economy and jobs for many years to come. But Trump has other ideas, he is turning the oil industry loose to develop oil and gas in the most pristine places in the U.S. and suspending safety regulations imposed on the industry for good reasons.
So in the U.S., the merry go round continues on the price of a gallon of gasoline and barrel of oil because of manipulation. Prices at the grocery store, the malls, on line and other retail purchases stay within the norms of price fluctuations and all those outlets offer price reductions on a regular basis. Competition rules, but in the oil industry, prices are manipulated by the greedy oil companies.
It is really a sad story that our elected officials have failed to address. And to top it off, the industry is allowed to destroy the environment with impunity by their operations. Thank goodness Trump and the GOP were not in power when the BP oil explosion and spill took place in the Gulf of Mexico.
This commentary written by Joe Lorio
Wednesday, November 29, 2017
President Donald Trump: Still Living In The Shadows Of Hillary Clinton
Hillary Clinton has not held an elected office in over nine years and last served as Secretary of State in 2012 after being appointed to that position by President Barack Obama. Her past accomplishments in public service are well known and her comments now as a civilian on the issues of the day are still informative and timely. And she told the truth about the Trumpet man during the 2016 campaign that has long been confirmed by Trumps own actions.
So after more than 10 months in office, crooked Trump is still living in the shadows of Hillary and strikes out against her with the same fake charges he made during the campaign. His ego has been damaged beyond repair because Hillary won the popular vote by a margin close to 3 million votes, a record for a second place finish in a Presidential election. His tweets about her continue and would like to see her prosecuted because three republican controlled investigations found no evidence to prosecute. The FBI came to the same conclusion in their investigation.
But Trump still has his supporters who fell for his fake news concerning Hillary and also fell for the Russian fake news against her on Facebook, Twitter and Google. And believe it or not, a post came over my Facebook page just the other day by Trump supporters who are trying to drum up support to prosecute Hillary concerning her emails. They are still swallowing Trump's and Russia's fake news and could care less that Russia supported Trump and tried to influence the election in Trump's favor.
The trumpet man has become more unstable every day and the personal attacks against the military and individuals with extreme remarks represent a person who continues to have no respect for anyone. Trump's statement last week that our military was not winning until he took office is a statement of a coward and a disturbed President who does not deserve to be called Commander in Chief.
Donald Trump will never move out of Hillary's shadow because he is a person that does not measure up in political, public or daily life. Impeachment of this President can not come soon enough.
This commentary written by Joe Lorio
So after more than 10 months in office, crooked Trump is still living in the shadows of Hillary and strikes out against her with the same fake charges he made during the campaign. His ego has been damaged beyond repair because Hillary won the popular vote by a margin close to 3 million votes, a record for a second place finish in a Presidential election. His tweets about her continue and would like to see her prosecuted because three republican controlled investigations found no evidence to prosecute. The FBI came to the same conclusion in their investigation.
But Trump still has his supporters who fell for his fake news concerning Hillary and also fell for the Russian fake news against her on Facebook, Twitter and Google. And believe it or not, a post came over my Facebook page just the other day by Trump supporters who are trying to drum up support to prosecute Hillary concerning her emails. They are still swallowing Trump's and Russia's fake news and could care less that Russia supported Trump and tried to influence the election in Trump's favor.
The trumpet man has become more unstable every day and the personal attacks against the military and individuals with extreme remarks represent a person who continues to have no respect for anyone. Trump's statement last week that our military was not winning until he took office is a statement of a coward and a disturbed President who does not deserve to be called Commander in Chief.
Donald Trump will never move out of Hillary's shadow because he is a person that does not measure up in political, public or daily life. Impeachment of this President can not come soon enough.
This commentary written by Joe Lorio
Sunday, November 26, 2017
The Latest Reason Trump and The GOP's Tax Plan Is A Scheme and A Fraud.
The nations's Television talk shows, news media and the Wall Street Journal continue to promote Trump and the GOP's tax plan as tax REFORM, but the latest news from the financial sector tells us that corporate America and the wealthy are doing extremely well and that the tax proposal working its way through congress is actually a scheme and fraud.
Now comes a report that Amazon's founder and CEO Jeff Bezos net worth climbed above $100 billion on Friday as Amazon's stock closed at $1,186.00 per share. The stock has gained 58% so far this year. And so far Bezos' net worth increased $32.6 billion just this year. Just think, all that increase for Bezos and his company took place under the current tax structure and now Trump and the GOP's tax plan, if passed, will take another 15% off their corporate tax bill. The report also said Bezos is selling approximately $1 billion of his stock to invest in another one of his companies. Bezos also owns the Washington Post.
Bill Gates, the founder of Microsoft has a net worth of $88.9 billion according to Bloomberg's index and Warren Buffett's net worth is now $78.9 Billion. It is a sure bet that Microsoft and Buffett's companies do not need a 15% reduction in the corporate tax rate either. But Buffett is already on record as saying the present tax structure is not a road block to companies for making a profit and that corporation should actually pay more in taxes.
When 2017 comes to an end it will be a record profit year for corporate America which will once again demonstrate how Trump, the GOP and corporate America are committed partners in the continued scheme and fraud of transferring wealth from the middle class to the wealthy and corporate America under the fake news of tax REFORM. And that really says it all.
This commentary written by Joe Lorio
Now comes a report that Amazon's founder and CEO Jeff Bezos net worth climbed above $100 billion on Friday as Amazon's stock closed at $1,186.00 per share. The stock has gained 58% so far this year. And so far Bezos' net worth increased $32.6 billion just this year. Just think, all that increase for Bezos and his company took place under the current tax structure and now Trump and the GOP's tax plan, if passed, will take another 15% off their corporate tax bill. The report also said Bezos is selling approximately $1 billion of his stock to invest in another one of his companies. Bezos also owns the Washington Post.
Bill Gates, the founder of Microsoft has a net worth of $88.9 billion according to Bloomberg's index and Warren Buffett's net worth is now $78.9 Billion. It is a sure bet that Microsoft and Buffett's companies do not need a 15% reduction in the corporate tax rate either. But Buffett is already on record as saying the present tax structure is not a road block to companies for making a profit and that corporation should actually pay more in taxes.
When 2017 comes to an end it will be a record profit year for corporate America which will once again demonstrate how Trump, the GOP and corporate America are committed partners in the continued scheme and fraud of transferring wealth from the middle class to the wealthy and corporate America under the fake news of tax REFORM. And that really says it all.
This commentary written by Joe Lorio
Friday, November 24, 2017
Oil and Gas Offshore Oil Royalties For Louisiana: Slowing Disappearing Like Louisiana's Wet Lands and Coast.
The federal Interior Department notified Louisiana officials that oil royalties due Louisiana for offshore drilling in the Gulf of Mexico in accordance with the "Gulf of Mexico Energy Security Act" or (GOMESA) would be only about half of the $140 million expected late this year or early next year. The money is slated to be used for coastal restoration and protection and counted on in Louisiana's 50 year, $50 billion coastal restoration program.
It should be noted that President Trump in his budget called for rescinding GOMESA and putting its revenue else where in the budget. Louisiana's U.S. Senator Bill Cassidy said he asked his staff to review the Trump administrations accounting of the money and how the interior department calculated the payout. One would think Louisiana's representatives in congress would already know the answers if they were looking out for Louisiana's best interest. Mary Landrieu, the state misses your representation in congress and needs it more than ever before.
The real shame in all of this is Louisiana's failure to hold the oil and gas industry accountable for the damage their operations caused to Louisiana's environment over a long period of time. Louisiana should not have to depend on royalty payments to reclaim that damage. The industry is no friend to Louisiana and its people just because they employ people and pay taxes. Every business does that but every business does not destroy the state's environment by their operations.
More and more it is clear Governor David Treen had the answer with "CWEL", Coastal Wetlands Environmental Levy" which he proposed and explained over 20 years ago. If "CWEL" had been adopted and passed, the state would be 20 plus years ahead of where we are today with the problem. And PolitiDose was in the fore front with commentary on "CWEL." The state's news media gave very little publicity to Treen's plan at the time and are now devoting more time to the environment problem but are 20 years too late and never mention "CWEL." What a shame.
And now we have a President and GOP controlled congress who are proposing to reduce the corporate income tax rate by 15%. The oil companies are always some of the most profitable companies, still receive billions in tax breaks and will soon have a huge tax reduction if passed by congress. Their CEO's are no longer laughing all the way to the bank, they are now doing flips.
Cassidy and all of Louisiana's elected officials in the state and federal level should join Governor John Bel Edwards in supporting legal action against the oil and gas industry for their flagrant disregard of the state's environment and the damage their operations have caused.
This commentary written by Joe Lorio
It should be noted that President Trump in his budget called for rescinding GOMESA and putting its revenue else where in the budget. Louisiana's U.S. Senator Bill Cassidy said he asked his staff to review the Trump administrations accounting of the money and how the interior department calculated the payout. One would think Louisiana's representatives in congress would already know the answers if they were looking out for Louisiana's best interest. Mary Landrieu, the state misses your representation in congress and needs it more than ever before.
The real shame in all of this is Louisiana's failure to hold the oil and gas industry accountable for the damage their operations caused to Louisiana's environment over a long period of time. Louisiana should not have to depend on royalty payments to reclaim that damage. The industry is no friend to Louisiana and its people just because they employ people and pay taxes. Every business does that but every business does not destroy the state's environment by their operations.
More and more it is clear Governor David Treen had the answer with "CWEL", Coastal Wetlands Environmental Levy" which he proposed and explained over 20 years ago. If "CWEL" had been adopted and passed, the state would be 20 plus years ahead of where we are today with the problem. And PolitiDose was in the fore front with commentary on "CWEL." The state's news media gave very little publicity to Treen's plan at the time and are now devoting more time to the environment problem but are 20 years too late and never mention "CWEL." What a shame.
And now we have a President and GOP controlled congress who are proposing to reduce the corporate income tax rate by 15%. The oil companies are always some of the most profitable companies, still receive billions in tax breaks and will soon have a huge tax reduction if passed by congress. Their CEO's are no longer laughing all the way to the bank, they are now doing flips.
Cassidy and all of Louisiana's elected officials in the state and federal level should join Governor John Bel Edwards in supporting legal action against the oil and gas industry for their flagrant disregard of the state's environment and the damage their operations have caused.
This commentary written by Joe Lorio
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