Posted on 07/27/2009 5:32:36 AM PDT by raybbr
Frustrated Democrats have been asking the same question for months: When are the rich going to pay their fair share?
State employee unions are also asking — broadcasting television commercials depicting wealthy fat-cats smoking cigars and brandishing brandy snifters as Republican Gov. M. Jodi Rell has avoided tax increases on the rich and corporations. The unions have spent about $400,000 since February on radio, television and cable advertisements in their campaign for tax fairness.
But Sen. L. Scott Frantz, R-Greenwich, says the rich are already paying their fair share.
In fact, Greenwich paid more than 14 percent of the state's entire income tax bill in 2007, or nearly $759 million, according to state records. When Greenwich is added to three other lower Fairfield County communities — New Canaan, Westport and Stamford — the total jumps to more than 25 percent of all income taxes collected.
Having only four of the 169 towns pay for more than 25 percent of the income tax bill certainly constitutes a fair share, Republicans say. In addition, those communities receive only a tiny fraction from the state in educational cost-sharing funds to operate their local public schools.
"We get back less than 1 percent of the money we send to Hartford," said Frantz, a business executive who is in his first year as a state senator.
(Excerpt) Read more at courant.com ...
That's funny coming from a democrat. They love executive orders till they go against socialism.
Time for the rich people of Connecticut to move to a place that has more respect for their wealth.
And take the jobs they provide with them.
Tell me about it. I use to live in Westport and now live in Stamford. Wonder why they didn't include Darien in there as well? I would think that they'd have paid a pretty penny too.
ping
pnh102: “Time for the rich people of Connecticut to move to a place that has more respect for their wealth.”
NOW is the time for wise states to cut taxes and spur growth. Foolish socialist states will spiral downward as they prey on those that generate wealth—wealth that is ultimately shared by the entire community in new jobs btw. This is an excellent opportunity for some states to seriously boost their economies.
*KLUNK*
*headquarters we have an emergency, Sen Dodd has fainted and needs medical care
Let the Democrats defend “the rich”. I’m tired of “the rich” always proclaiming they’re willing to pay more in support of Democrats, and many of “the rich” are now Democrats anyway. Let them pay more!
How many rich New Yorkers vote straight ticket and abhor Republicans? How many rich Silicon Valley AlGore buddies want to save the planet with everyone else’s money. Ha, let the rich pay more!
The rich don’t want to pay more? Then “the rich” ought to put their money where their mouth is and support conservative candidates and stop trying to be trendy cool and hangin’ with Democrats. Too many of “the rich” have sold out to Democrats. Let them eat cake!
Since these rich in the North East are the people who bank roll the Socialist party. since they turned out Chris Shay because he wasn’t left enough. Since they largely control the media I think a good question is why shouldn’t they pay more. After all Wall Street gave 70% of their largess to Obama. again why shouldn’t they pay more. No more sympathy.
What a stupid answer.
If a pro-business person were in the White House, his net wealth would likely be up 20%. Idiots...
What is “fair share”? ANYBODY that is working for wages, and paying into FICA, is already paying taxes, but that person just doesn’t know it. Mistakenly, people think this is an “insurance” program, it is nothing of the kind. Social Security and Medicare payments, only half of which the wage-earner sees taken from his paycheck, are treated esentially like they were general revenue. Oh, every year there is a phony IOU signed, and tucked in a drawer somewhere deep in the bowels of the Treasury department. But that, like so many promises that come from the Federal bureaucracy, is worth about as much as the paper it is written on.
The business owner does not pay the “payroll tax” out of the goodness of his heart. No job is more valuable than the greater return on revenue the employer gets from the services or production of that worker, and in a sane economy, the return to the business owner for every dollar he pays into the payroll fund should be grossing back from 25% to 200% when the product or service is sold to its next consumer. The payroll is NOT the only overhead the business owner has, which is why there is a wide variability on the return required just to stay in business.
The employee, whether aware of it or not, is carrying ALL the freight on the share of FICA he has taken out of his paycheck (which starts with Dollar One) AND the part the employer puts in on his behalf. The stated wage may be $7.25 per hour, but the REAL wage is $7.80 per hour, for bookkeeping purposes. If there is employer-paid health or life insurance, this is added to the cost of the payroll, and must be a consideration of the business manager when deciding whether an employee is contributing enough to justify continuing that person on the payroll. The payroll fund is MUCH bigger than the simple total amount of all the gross paychecks of the employees. Generally, the employee is not privy to this information, for various reasons, and thinks what is not being paid to the employees, is pure profit for the business manager. In fact, payroll may constitute only a small part of the fixed costs of the employer, depending on the productivity of the employees and the return on investment the business can earn.
So what is the “fair share” the business OWNER should be paying? Remember, every dollar taxed away from the business has to be made up either in higher prices to the consumers, or by reducing the amount available for employee payrolls. Corporations and single-owner businesses do not pay taxes, they collect them. Then these collected taxes are hidden in the price of the product.
To keep the goose that lays the golden eggs alive, it must be well nourished. What one person calls incentive, though, is pictured by another person as greed.
When the goose is murdered, nobody benefits.
In fairness, it wasn’t Greenwich that turned our Christopher Shays it was Stamford, Norwalk and Bridgeport, all democrat towns. Greenwich is still a Republican town, if only barely, however I will admit that most are RINOs.
I also used to think this. What a great opportunity for strong independent states to promote strong business growth etc... then I came to the reality of things. If the Rich, and those who will be the productive engines for the rich, move to a state, the federal government will make sure they are taxed appropriately to pay for the less fortunate states. At this point there is no way to win, and no reason why socialistic states will change their spending habits when their money will come from the US treasury.
The same example will be able to be extrapolated, that is, that one very wealthy productive state will pitch in a higher % of tax revenue while the booty goes to foster the poor, and spark yet more desires for entitlements.
The circle must be broken.
The correct statement should have been, the wealthly are paying way too much already.
Count on a Republican to not have a spine.
"We just need to raise rates on the wealthiest in Connecticut," O'Connor said. "Despite what the Yankee Institute claims in its most recent study, the wealthy in Connecticut are doing pretty good. The Greenwich hedge fund manager is certainly seeing lower numbers on his balance sheet, but he still has the second home on Long Island and the vacation home in the south of France and the fleet of cars. He's still living large."
Proof the nation's unions are run by Marxists.
The socialists want more taxes from whoever they deem wealthy to cover the cost of the new government run health care recently enacted by overturning Rell’s veto.
Just so everyone knows, New Canaan is a very Republican town. There aren’t many Rats elected to anything here.
Republican 6,341
Democrat 2,732
Unaffiliated 3,716
Other 24
Total 12,813
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