Scott Walker Hates Helps The Little People

nhboy

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Plain Talk: Guess why Walker wants to freeze self-supporting State Life Fund

"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."

"Yet Walker wants to freeze it in place come July 1 and close it to further purchases.

It's a blatant giveaway to the private insurance industry, which has long bristled at the existence of the fund, insisting that it is "socialized insurance." It has tried without success for several decades to get it killed. The most recent attack on it came from dishonored former state Rep. Scott Jensen of Waukesha, himself an insurance industry shill. Even Tommy Thompson's Republican administration wouldn't go along with Jensen's scheme to close it down."
 

CrashTest

Well-Known Member
The value of the policies are very low and basically cover the cost of a burial. The article fails to mention that Wisconsin will give you $3500 to bury someone if you don't have any money. Did they forget to bring up that point?
 
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