Wendy Traub of Hemlock Directional Boring - a construction company that specializes in underground utility pipe installation, says small businesses like Hemlock simply do not have the time to commit to appeals when there is little chance of success - regardless of whether or not the employee quit, was fired or laid off. “I would say 98 percent of the time - I don’t want to say it was a joke - but no matter what evidence we could present, the labor board said they are going to get it.”
Connecticut was ranked 43rd in the nation based on its tax structure by the Tax Foundation, an independent tax policy research organization. During a presentation on their findings, Joe Henchman, one of the three authors of the study, noted that Connecticut’s tax policies have become unnecessarily burdensome. He notes that although Connecticut started off with an income tax with a relatively low rate “the state has piled complexity upon complexity," into its tax code.
Connecticut was labelled a “sinkhole state” and placed 49th in the nation based on its financial issues and taxpayer burden in the annual Financial State of the States report by Truth in Accounting, a government accounting think tank. The unfunded pension and healthcare liabilities were the largest factors of debt in determining Connecticut’s ranking.
The state’s constitutional spending cap should be “comprehensive” and cover all state spending except for debt service, Webster Bank CEO James C. Smith told members of the Spending Cap Commission this week. The spending cap is supposed to limit how much state lawmakers can spend – but in recent years money has been moved out from under the cap, weakening it. Smith powerfully made the argument that the state’s spending cap matters – read the rest of his testimony here.
The Connecticut Business and Industry Association and BlumShapiro released Friday their annual survey of businesses in Connecticut, showing state taxes and regulations are the biggest roadblocks to business growth and expansion. The three biggest challenges to growth cited by the businesses surveyed were costs associated with state regulations, taxes and “unpredictability surrounding legislative decision making.”
Imagine if Connecticut had 2.5 million people working here. That would mean nearly a million more people at work. What would be different? There would be more jobs to choose from and more options when it comes to shopping, eating or having fun. Some families that moved apart seeking opportunity elsewhere would still be together. Many new people would have arrived, bringing new ideas and opportunity with them.