It is the Governor Douglas “hidden” tax hike, which will be assessed to every Vermonter.
Like every other state in the country, Vermonters are facing tough economic times. Bush’s tax cuts to the wealthy and increased tax burden upon the middle class in the midst of escalating medical insurance costs, job loss, and the financial debacle facing banks and mortgage lenders have left the economy almost in ruin.
Vermonters are seeing those financial constraints first hand in cuts to vital social services as state jobs are cut to balance the budget, while Governor Douglas retains a $400,000 taxpayer supported PR staff, according to Shay Totten of Seven Days (http://www.7dvt.com/2008blame-game). Now in the latest insult to injury, the Governor claims that he has the right to campaign on taxpayer dollars. This story first broken by Shay Totten (http://www.7dvt.com/2008governors-free-ride), has been thoroughly expanded on Green Mountain Daily by Nate Freeman http://greenmountaindaily.com/showDiary.do?diaryId=3521. After being bombarded by rallies across the state, http://greenmountaindaily.com/showDiary.do?diaryId=3532, Douglas suddenly claimed that he was repaying the state for his campaign phone calls and copying costs. Of course in typical Douglas fashion, there are no records…
But wait, it gets worse, much worse.
Those issues pale in comparison to the Guv’s biggest whopper. Yes, it is the Douglas’s unbridled support of Entergy Nuclear Vermont Yankee LLC. Read those last three initials again – LLC. Those three initials that stand for Limited Liability Corporation. Aye, there’s the rub, to quote Hamlet as he contemplates suicide. Talk about financial suicide, because ENVY is an LLC with no assets to support Vermont Yankee’s cleanup, Governor Douglas would rather add a tax burden of $1,000 to each and every Vermonter (yes, every man, woman, and child) than to tell ENVY it is time to fill the fund. Take a look at this graph, and then say in unison, “THANKS JIM!”
The graph shows the gap between what Entergy has saved and what it will owe to dismantle Vermont Yankee’s carcass. Why does Entergy Nuclear Vermont Yankee (ENVY) get to make over $150,000,000 each year and then leave us holding the bag for more than half a billion dollars in clean up costs? Do the math. That is a tax of at least $1,000 for each and every Vermonter. Lets all say in unison, “Thanks Jim!”
In April your Legislature passed a bill to requiring Entergy to fully fund Vermont Yankee’s Decommissioning Fund. Governor Douglas vetoed that bill claiming that it would be an unfair burden for Entergy. An unfair burden for Entergy? Seems to me that his is just more Bush corporate economics… give to corporations and take from the middle class taxpayer!
Almost one year ago, when I did the original analysis regarding the lack of money in ENVY’s Decommissioning Fund, the Douglas administration claimed that I did not know what I was talking about and that my allegations were simply untrue. I imagine the Douglas PR minions will make this claim again. FYI, my allegations bore up under the full scrutiny of the Legislature. In response, the Legislature passed the Bill that would have had Entergy put money into OUR fund. Yes, it is OUR fund. Each and every Vermonter paid into that fund. And, Entergy has not added any of its profit to that fund since it purchased the plant in 2002. Check that graph out again, and say “Thanks Jim!”
In response, the Douglas administration claims that the NRC will enforce Entergy’s duty. Not true. Entergy is already claiming that the responsibility is that of the Vermont Yankee’s original owners, thus Vermonters will pay for decommissioning and dismantling the carcass of Vermont Yankee, while Entergy continues to make its $150 Million in excess profit per year.
The Courts have sustained the fact that state residents must pay when a decommissioning fund is short. Doubt me? Ask the residents of Connecticut who had to pay more than $400 Million when Connecticut Yankee’s decommissioning fund came up short. Ask Massachusetts residents who had to pay for the extra decommissioning costs of Yankee Rowe.
Protect your family from hidden taxes, VOTE AGAINST Douglas on Tuesday.