| Earlier today, University of Nebraska Regent Chuck Hassebrook announced his candidacy for the U.S. Senate. In his announcement, Hassebrook said that he would stand up against "rich and powerful interests" if elected to the U.S. Senate. The Democratic Senate candidate (correctly) contended that that middle-class Americans are being ignored by a Washington, D.C. that cares more about providing tax cuts to the rich, subsidizing corporate special interests, and protecting big banks. He said he was running so he could "fight, not for government that protects the tax cuts of the rich, but for government that protects the retirement security of hard working families." Hassebrook also released his tax returns and challenged the Republican candidates to release their own.
Hassebrook's announcement was a shot across the bow of the three major Republican contenders for the U.S. Senate. Jon Bruning, Deb Fischer and Don Stenberg have all called for the permanent extension of the failed Bush tax cuts. As we've discussed here before, 43% of the Bush tax cuts have gone to the top 1% of income earners. In addition, the Bush tax cuts have failed to create much in the way of new jobs and economic growth since they were passed in 2001.
Attorney General Jon Bruning has doubled down on tax cuts for the wealthy by endorsing the Paul Ryan Medicare privatization plan which would reduce the corporate rate and the top individual rate from 35% to 25%. In other words, Bruning supports even more tax cuts for the oil industry, banks and insurance companies. (None of which need these tax cuts since they're already making record or near record profits.)
Hassebrook's promise to support retirement security for hard working families was also a direct challenge to his rightwing opponents. The Ryan plan - which is supported by Bruning - would require senior citizens to purchase private health insurance and bring back pre-existing condition clauses. (I'm still waiting for Bruning to tell us how seniors will be able to buy private health insurance with the return of pre-existing condition clauses.) The Ryan plan would also cost seniors an additional $6,000.00 in annual out of pocket medical expenses.
State Treasurer Don Stenberg and State Senator Deb Fischer have yet to take a position on the Ryan plan. (Apparently, they recognize that it is politically radioactive.) Nevertheless, Stenberg has been a supporter of Social Security privatization for over ten years. Social Security privatization would be a windfall for Wall Street and would put seniors' hard earned savings into the volatile stock market.
Hassebrook's charge that Washington, D.C. is more interested in protecting the big banks is another clear swipe at Bruning, Fischer and Stenberg since all are on record favoring the repeal of the 2010 Wall Street reform bill (aka "the Dodd-Frank Act"). Apparently, all three believe it better to allow the bankers on Wall Street to write their own rules - like they were able to in the lead-up to the financial crisis in 2008 that cost Americans trillions of dollars.
Personally, I was most impressed by Hassebrook's challenge to the Republican candidates to release their tax returns. This challenge had to be most directly aimed at Bruning since he has amassed a fortune in the tens of millions of dollars on a government salary. If Bruning were to release his tax returns it would answer a lot of questions - including how he nearly quadrupled his net worth between 2007 and 2011.
What Regent Hassebrook has done here is create a clear contrast between his values and those of the Republican candidates. It's pretty evident that Bruning, Stenberg and Fischer have gone all-in with their support for the wealthy, Wall Street, the insurance industry and the oil companies. Hassebrook has made it clear that he will be a fighter for the rest of us - workers, farmers and the middle class. I look forward to hearing more about how Hassebrook plans to fight for the middle class in the coming months. It's pretty obvious that we Progressives have a candidate we can be proud of and who will make an excellent Senator. Now let's get to work! |
