or ban the taxpayer-subsidized extravagant expenses. No state-created entity should be taking the public’s money to buy coporate boxes at ballfields. Make no mistake: Pinnacol is sucking at the public teat since it pays no taxes. If Pinnacol’s management wants to spend like a private corporation and spend extravgantly like they have been doing, then let them pay taxes like a private corporation. Otherwise, such expenses should be banned by statute.
It amazing to me how many people in and out of politics are jealous of Pinnacol’s success. They dug them self out of hole and without a bale out. No general taxpayer dollars are spent from the general public. Their operations are funded by premiums paid by their customers. They are structured similar to a Mutual Insurance Company.
Benefits from their successful operation should go to the members(customers) not to the general public. Pinnacol just returned 120 million dollars in dividends this year alone to their customers.
The offset for not paying taxes is that they remain the resdidual market for Workers Compensation in Colorado (the Insuror of last resort, ie they have to take everybody).
The were created by state statute which defines their scope, and style of operation by a bill which passed the then leslature and signed by the then Gov.
CEO salary and entertainment expenses appears actually be low for an operation of their size.
I don’t have a problem with a salary equivalent to private industry, but I do have a problem with tax subsidy (or no tax) to allow them to compete so easily. They should either be cut loose, or more regulated and taxed. That business where they are the last resort should be the only that is not taxed. The govermnet should never create unfair advantages. It should promote competition.
John.. they ARE competing. But while they do have a tax break giving them an advantage, they’re also required to take high-risk accounts that no other carrier is willing to take.. which is a major disadvantage to the bottom-line.
seems if they have all this money for entertainment and they are the company of last resort it appears that their rates are to high and if ctining like a mutual they should retun the money to the payers
or ban the taxpayer-subsidized extravagant expenses. No state-created entity should be taking the public’s money to buy coporate boxes at ballfields. Make no mistake: Pinnacol is sucking at the public teat since it pays no taxes. If Pinnacol’s management wants to spend like a private corporation and spend extravgantly like they have been doing, then let them pay taxes like a private corporation. Otherwise, such expenses should be banned by statute.
It amazing to me how many people in and out of politics are jealous of Pinnacol’s success. They dug them self out of hole and without a bale out. No general taxpayer dollars are spent from the general public. Their operations are funded by premiums paid by their customers. They are structured similar to a Mutual Insurance Company.
Benefits from their successful operation should go to the members(customers) not to the general public. Pinnacol just returned 120 million dollars in dividends this year alone to their customers.
The offset for not paying taxes is that they remain the resdidual market for Workers Compensation in Colorado (the Insuror of last resort, ie they have to take everybody).
The were created by state statute which defines their scope, and style of operation by a bill which passed the then leslature and signed by the then Gov.
CEO salary and entertainment expenses appears actually be low for an operation of their size.
I don’t have a problem with a salary equivalent to private industry, but I do have a problem with tax subsidy (or no tax) to allow them to compete so easily. They should either be cut loose, or more regulated and taxed. That business where they are the last resort should be the only that is not taxed. The govermnet should never create unfair advantages. It should promote competition.
John.. they ARE competing. But while they do have a tax break giving them an advantage, they’re also required to take high-risk accounts that no other carrier is willing to take.. which is a major disadvantage to the bottom-line.
seems if they have all this money for entertainment and they are the company of last resort it appears that their rates are to high and if ctining like a mutual they should retun the money to the payers