From the Cap Times (via First Draft, a blog that’s done an amazing job cover the Madison movement). This insurance plan is something that doesn’t cost the state government anything — but doesn’t profit any of Walker’s friends, so it has to go:
If you need a prima facie example of how this extremist Republican governor is taking the side of the big guys against the little guys, I’ve got one for you.
Hidden in the 1,300 or so pages of his 2011-13 budget is the dismantling of Wisconsin’s little-known State Life Fund, a small state-operated life insurance plan that was enacted 100 years ago this year by progressive Republican legislators in the wake of insurance scandals that rocked the state back then.
The fund costs Wisconsin government nothing, but operates off investing the premiums paid by the 30,000-plus state residents who hold policies with face values ranging from a minimum of $1,000 to a maximum of $10,000. The fund, which isn’t well-known because it is forbidden from doing any advertising, nevertheless earns dividends that substantially reduce the insureds’ premium costs plus build cash values that policyholders can cash in if events in their lives make it prudent to do so.
Continue Reading »
Think what kind of life someone must have had, to think that smoking pot on the beach and reading books about tantric sex (yes, even in the 80s) is living “life on the edge.”
She really needs to get out more.