When it comes to taxes, Connecticut is just plain naughty. The state’s personal income, corporate income, sales, and property taxes are all among the highest in the nation. Additionally, to fuel a multi-decade habit of reckless spending, Connecticut burdens both individuals and businesses with all sorts of fees, surcharges, and the like. It would be nice if lawmakers and public officials worked to control spending enough to enact a nicer tax code.
When Governor Dannel Malloy admitted that the state’s recent trend of raising taxes wasn’t working, and that economic growth was necessary, it signaled a shift in attitude toward the right direction. How to foster economic growth should consistently be a factor and goal in any public policy debate or legislative issue. The state needs revenue, but by chasing revenue through tax increases, it has actually chased people, and revenue, away.
Nice states encourage and reward risk takers, both with policy and general attentiveness to their job creators. Unpredictability, projections to increase taxes, and constant regulatory creep are factors that reduce business confidence and, ultimately, reinvestment in a state. Naughty states disregard the concerns of employers.
Waterbury grocer Raul Marcos Monarca-Gonazalez pled guilty in federal court on Tuesday to unlawful use of food stamps and conspiracy to commit food stamp fraud. Investigators estimate the amount of fraud to be in the millions. According to the press release from the U.S. Department of Justice, Monarca’s store, WB Trade Fair Grocery, only stocked enough eligible food items for a maximum of $240,000 in food stamp purchases per year.
Tuesday, voters across Connecticut spoke, loud and clear. They are demanding better jobs; an affordable, sustainable state government; and politicians of both parties who are willing to work together to fund our state’s priorities without constant tax increases. With your help, Yankee stands ready to help achieve these goals – in 2017 and beyond. We have heard our state’s residents, and we have developed policy proposals that can drive real reform.
Senate President Pro Temopore, Martin Looney, D-New Haven, urged lawmakers to consider legalizing the recreational use of marijuana in Connecticut, claiming it “could be a substantial revenue benefit to the state.” Chris Stiffler, an economist with the Colorado Fiscal Institute says the idea that it will bail out a state mired in deficits is not realistic. “There was this idea in Colorado that there would be an extra lane on every highway and an extra teacher in every classroom, but we’re not talking about those kinds of numbers.”