Well maybe that will happen if a retired Wall Streeter and Vermont resident who spoke to the annual meeting of the famously conservative Associated Industries of Vermont has his way. Bruce Lisman maintains that Irene recovery costs must side-track other state policy initiatives. The Irene recovery an “all in” bet (as he calls it) is so big it should preclude what he considers two other “all in” bets, specifically single-payer and investment in renewable energy. Lisman told the AIV …
“…But maybe this is not the moment to introduce two all-in bets [single payer, renewable energy investment] that would freeze, well, people like you [manufacturers, financiers and entrepreneurs], who might make decisions about expanding a business or adding people or thinking about new capacity or new markets. Maybe not this moment.”
Not surprisingly he doesn’t entertain the possibility of even a modest upper income tax increase.
Practically a living mirror opposite of the Occupy Wall Street movement, Lisman sits on the board of National Life Group, is retired chief of JPMorgan’s Global Equity Division and served as Senior Managing Director of the defunct investment bank Bear Stearns, and plans to launch the Campaign for Vermont.
His campaign will champion what he claims are “centrist, down-the-middle, common-sense” policies and focus on prosperity. While no specific policy initiatives were offered it was made clear according to the vtdigger.com article that scrapping both single payer and renewable energy investment are paramount features of the campaign. He brands both efforts “large, profound” and “maybe intrusive in a fashion”.
A recent poll shows a plurality of Vermonters supporting the new health care law. So maybe it isn’t a surprise his argument found less than enthusiastic support even among business types.
Said one business leader when asked if he agreed with Lisman that Irene’s recovery cost should make it necessary to scrap healthcare reform and stop investment in renewable energy: “Let’s focus on Irene, get ourselves set, but the other issues are critical and important to the state and I don’t think we can ignore them.”
Another attendee took exception to the “all-in bet” can’t-walk-and-chew characterization of the problem: “I don’t know that I agree with that. I think there’s room for small bets in more than one area.”
Looks like Lisman’s Irene-based campaign to scrap healthcare and renewable energy investment aka Campaign for Vermont hasn’t found the moment and is more than half a bubble off-center.
Always look only at one side of the financial equation. It does explain how they can be so colossally poor at managing money, though.
For example: Switching health care systems and committing to renewable energy in VT will create jobs – good paying jobs for Vermonters. Working Vermonters will PAY TAXES. Those taxes will offset the costs of implementation for the new systems. At the same time, the ongoing costs of health care and energy will drop, saving money for Vermonters.
We’re creating virtuous cycles:
More employment from implementing new health care and new energy = more revenue = reduced overall tax burden per individual.
Savings from lower health costs + savings from lower energy costs = more money to supply the demand side of the economy = more jobs = more revenue = reduced overall tax burden per individual.
If you look only on one side of the ledger (the cost to implement) and ignore the other side (the gains resulting from implementation), you will forever be doomed to failure, because you will always avoid taking the steps that lead to winning.
Yes…he forgot the Christian spin–If God wanted us to have Health Care, He wouldn’t create natural disasters. And also, this is why the poorest people in the poorest housing suffer and die in natural disasters. Because God loves the Rich. If God didn’t love the Rich, how’s come Halliburton headquarters in Houston ain’t been hit by a killer tornado? Think about it. Rick Perry’s thinking about it right now.
from its real potential to stand-out from the crowd of competing states with a healthcare solution that levels the playing field for innovative start-ups.
We’ve already fallen way behind on the renewable energy horizon, thanks largely to Jim Douglas’ hostility to Efficiency and other innovative approaches that might have distinguished us to the right kind of employers…those whose grasp of the future predicts that they will be around to continue providing quality jobs for decades to come.
At work.
What of this can do look out for another we’ll git r done 7 generations of Vermonter or you don’t count mentality? Oh, Where’d that go? Conveniently only Republican truck drivers have those qualities post Irene.
Now is the time. There is no right and perfect time for anything.
happens if we follow Mr. Lisman’s advice?
The current health care system is eating our economy (almost 20% of the gross state product). Even some members of the AIV get that. It is obvious to (almost) everyone that we cannot continue on this path.
How many more people will delay needed health care due to inadequate coverage or high deductibles (and how much will that cost in later interventions)? How many more small businesses will be forced to cut back coverage for their employees? How many more families will be forced into bankruptcy due to overwhelming medical bills?
Anyone who suggests that we need to wait should be required to answer these and other questions.