Organizing Notes

Bruce Gagnon is coordinator of the Global Network Against Weapons & Nuclear Power in Space. He offers his own reflections on organizing and the state of America's declining empire....

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Location: Brunswick, Maine, United States

I'm back to work for the Global Network. Will continue to help Lisa Savage for US Senate campaign on my free time. Trying to self-isolate as much as possible. Best wishes and good luck to you all.

Tuesday, January 23, 2018

Opposing General Dynamics $60 million Tax Subsidy

Letter to Editor 

I wish to alert the public that the State Legislative Taxation Committee Public Hearing in Augusta for LD 1781 – the bill to give General Dynamics $60 million in corporate welfare - will be held on Tuesday, January 30 at 1:00 pm inside Room 127 at the State House.

It is important that the public attend and let our state legislators know how we feel about the proposal to give a fat subsidy to the 5th largest weapons corporation on the planet just a month after Congress dramatically reduced corporate taxes.

General Dynamics had $31.3 billion in revenues in 2016 and gave a healthy 9.4 percent return to investors.  They’ve had so much cash on hand that between 2009-2016 the corporation bought back $12.9 billion of its own stock. Stock buybacks are bad for workers and average shareholders because the real beneficiaries are slick traders who can time their sales and corporate execs with pay packages tied to stock performance.

Contrast that with Maine’s current fiscal problems.  The state can’t properly fund education, health care is still not available for thousands of our fellow citizens, roads, bridges, water and sewer systems need repairing.  Maine can’t afford to be duped into giving General Dynamics $60 million – that money is needed here in our state.

Please make an effort to come to Augusta on January 30 for the public hearing on LD 1781.  If you can’t come please let your local State Representative and Senator know your thoughts on this corporate welfare bill.  Haven’t the rich taken enough of the nation’s wealth already?
Bruce K. Gagnon


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