The 2017 Tax Cut & Jobs Act is not polling well with the American people. That’s not surprising at this stage of tax reform. Ronald Reagan’s 1986 tax reform had only an 18 percent favorability rating the day it passed. The average taxpayer doesn’t believe tax cuts for corporations will benefit him or her. What they don’t realize is corporations are just pass-through entities for their corporate taxes. Corporations don’t pay taxes. Workers pay it in lower wages and/or customers pay it in higher prices for goods and services. The combination of lower corporate taxes and switching to a territorial tax system (like the rest of the world), which only taxes corporate profits once wherever they are earned globally, will have a very beneficial effect on the American economy. I humbly predict that this tax reform will eventually be very popular with American taxpayers. My thank you to President Trump and the Republican Party. #MAGA.Bob LindingerGuilderlandMore from The Daily Gazette:EDITORIAL: Beware of voter intimidationAlbany County warns of COVID increaseEDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen? Categories: Letters to the Editor, Opinion
October 30, 2019 State Funding Helps Lycoming County Manufacturing Company Expand, Supporting Nearly 60 Jobs Press Release, Workforce Development Harrisburg, PA – Today, Governor Tom Wolf announced Hermance Machine Company, a family-owned and operated manufacturer and distributor specializing in woodworking and wood product manufacturing equipment in Williamsport, Lycoming County, will expand, supporting the combined retention and creation of 57 full-time jobs in the area.“I am pleased that Hermance Machine Company has decided to expand its operations in the city where it began,” said Governor Wolf. “I look forward to the continued investments and opportunities that Hermance will bring to Lycoming County residents for years to come.”Hermance has outgrown its current space and is exploring several real estate options to accommodate the expansion. The company also plans to add two new product lines, increase showroom/demo space and inventory, and make improvements to its online storefront. The company has pledged to invest $3.16 million into the project, and has committed to create at least 20 new, full-time jobs and retain 37 existing jobs over the next three years.“This assistance, coordinated by the Governor’s Action Team, will allow for continued growth and employment opportunities at Hermance Machine Company,” said co-owner of Hermance Machine Company Claire Strouse. “Additionally, our local Innovative Manufacturers’ Center personnel Russ Lawrence and Brenda Holdren were instrumental in assisting us to prepare and qualify for this opportunity.”Hermance Machine Company received a funding proposal from the Department of Community and Economic Development for the project, which includes an $80,000 Pennsylvania First Grant, $40,000 in Job Creation Tax Credits to be distributed upon creation of new jobs, and a $16,200 workforce development grant to help the company train workers. The company was also encouraged to apply for a $2,650,000 loan through the Pennsylvania Industrial Development Authority (PIDA). The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania.“Hermance Machine Company is committed to expanding and creating jobs in the commonwealth,” said Director of Innovation for Innovative Manufacturers’ Center Russ Lawrence. “The Governor’s Action Team’s support will significantly advance Hermance’s growth and ability to offer valuable technology solutions that will support the success of other area manufacturers.”For more information about the Governor’s Action Team or DCED, visit the DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, Twitter, and LinkedIn. SHARE Email Facebook Twitter
An outbreak of the Ebola virus is causing widespread issues ahead of key qualifying matches for the 2015 Africa Cup of Nations. The Ivory Coast Football Federation became the latest to announce its country won’t allow a scheduled home fixture to take place.A report from Reuters (via Yahoo News) states the nation’s government decided to uphold the travel ban between the countries to avoid further spread of the virus. It’s forced the national team to search for a neutral venue to play the match.Also included were brief comments from media officer Eric Kacou, who stated: “The authorities are taking no chances against a possible Ebola outbreak.”The report notes similar issues have occurred in Sierra Leone and Guinea ahead of matches spread out over the next three months. Congo has expressed concerns about having its players make the trip to Nigeria, as well. Sunday Alamba/Associated Press Travel bans are in place throughout the continent as officials attempt to stop the issue from spreading even further.Last month, Ian Hughes and Piers Edwards of the BBC reported Seychelles were forced to withdraw from the tournament because of the virus. The home leg of a matchup against Sierra Leone was canceled after authorities wouldn’t allow the visiting team to travel to the country.For the Ivory Coast, which is usually among the tournament’s top contenders, the race is now on to find another venue for the Sept. 6 fixture. The side is scheduled to play on the road against Cameroon four days later.The 2015 edition of the Africa Cup of Nations is slated to take place in Morocco starting in January. Whether the virus could put it in danger remains unknown, but it’s clear getting all of the qualifiers in as scheduled could become a problem without a wide-scale contingency plan. So far, government officials are sticking with a safety-first approach.
AMES — A report from the Iowa State University Extension shows a slight increase in net farm income but a decrease in total farm assets and net farm worth.ISU Extension economist Alejandro Plastina says the Iowa Farm Costs and Returns Analysis shows net farm income rose by six-percent last year, while the average net farm worth fell by seven-percent. Plastina says, “We learned that profitability went slightly up in 2018 compared to 2017, but overall, asset values and net worth actually declined, compared to the previous year.”He says the rate of return for Iowa farmers hasn’t budged in six years. “Since 2013, the rate of return has not gone above 2.5%,” Plastina says, “where if we go back to 2009, ’10, ’11 and ’12, the rate of return was between eight and ten-percent, so a big drop.” He notes, the rate of return hasn’t changed much since 2013, unfortunately.Plastina says one of the surprises from the report is that the size of the average Iowa farm declined by 21 acres, the lowest since 2013. He says a combination of factors likely led to that. “Some farms might have dropped some of the rented acres where they were less profitable,” Plastina says. “Some farms might have dropped from the database, especially those larger farms.”The report was limited to farms with sales of $100,000 or more. The analysis did not contain 2019 information. This year saw severe flooding and planting delays that could delay harvest and reduce yields.