Yankee Institute Statement regarding calls for tax increases

“Raising taxes in response to this economic downturn ignores twelve years of Connecticut’s economic and fiscal history – and will only chop any chance of recovery off at the knees. Connecticut now has an opportunity to gain wealthy residents fleeing New York City and thereby increase its high-income tax base. Raising taxes on the wealthy – for the fourth time in 12 years – will only hasten the outmigration of Connecticut’s wealth to other states and cause those looking for refuge from the city to think twice. We all know tax increases won’t go to help the working class or the poor – they will go to pay for state employee raises and pensions. For years, the AFL-CIO has demanded policies that have put Connecticut at the brink of bankruptcy. Even now, it is opposing sensible reforms of underfunded state pension systems which, by driving up fixed costs, are crowding out other state spending that could otherwise be used to help the most vulnerable among us. To its shame, the state has done AFL-CIO’s bidding for the past twelve years and the results speak for themselves. Repeating the same foolish behavior – but expecting a different, better result — is the literal definition of insanity.”

–Statement attributable to Carol Platt Liebau, President of Yankee Institute for Public Policy

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  1. Rtynan

    June 11, 2020 10:51 am

    When was the last time the Yankee institute advocated for a state employee raise ? They never do. Have the state employees made concessions 4 times in the last 12 years while also enduring tax increases. Yes, they have. Why does the institute fail to mention that every new employee gets only what they save as retirement, but instead continuously refer to a retirement plan that ceased in 1986.
    As for shared sacrifice, we pay the same taxes and endure freezes or concessions every year, you don’t. We lost essential workers due to the virus yet your financial desires received more coverage. You lack legitimacy , you ignore the contracts, you ignore that the employees had nothing to do with not funding pensions and that was done to spare people tax increases. You complain about raises already delayed 4 years, you want them moved to better times. Yet while your members have done amazingly well in the stock market, we can wait. There are 16,000 employees retiring. That is due to the sebac agreement. On day one you will cheer shrinking government, while on day two you will call to eliminate the retirement benefits. Admit you ignore statute and contracts if the employees benefit, but putting them in harms way is part of their duties and those impacted or killed are insignificant to your fiscal well being.

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