Connecticut Senate Approves Budget With Special Tax of Millionaires

AP Breaking, via TBO.com ^ | 25 April 2002 | Matthew Daly

[Torie]

This might have the potential to adversely affect Greenwich property values. Granted the commute from Nashua is a bit longer. That might be good for the Wichita civil aviation industry. So many possibities, so little time.

[monkeyshine]

People who make this kind of money can find a way to defer it, transfer it or shelter it. And once they start doing that, they will do it with more of their money than they need to, thus depriving the state of more revenues than they expect to receive with the surcharge.

[2Trievers]

Just one more reason to leave this state! ... thanks Nutmeg. &;-)

[dread78645]

But Democrats said it was only fair to target the wealthy, since the state had already raised taxes on poor people by increasing the cigarette tax by 61 cents per pack.

"Hey, It's only fair. We screwed the smokers, so let's screw the rich.
We're state senators, we can screw anybody we want."

[JoeGar]

But Democrats said it was only fair to target the wealthy, since the state had already raised taxes on poor people by increasing the cigarette tax by 61 cents per pack.

What am I missing? Isn't the cigarette tax charged to all, rich and poor, equally? Isn't it only charged to smokers? Non-smoking rich and poor pay no cigarette taxes. What's unfair about that? User taxes are the fairest taxes off all -- if you don't use it, you don't pay the tax. Something in the democRAT logic escapes me. (BTW, CT also has rediculously high gasoline taxes that are fairly charged to all -- rich and poor -- who buy gasoline.)

[AppyPappy]

You'll notice they don't say how much would be raised by this tax. It is probably almost nothing.

[sanchmo]

It's unfair that certain peope are happier in life than others.
We need to correct this imbalance.
We need to tax the happy.
Or better yet, we should have the police harrass them day and night until we reach equitable levels of joy.

It's unfair that the winners in love's lottery have happy marriages,
when so many others are stuck in loveless relationships, or unwed and lonely.
We should confiscate those jealous people's wives and redistribute them to the gang-bangers getting drunk at the local bar.

[grania]

Feed the rich, tax the poor, 'til there aren't no rich no more

(Who sang that????)

[grania]

It's

Tax the rich, feed the poor, 'til there aren't no rich no more

I reversed it in my previous comment...(duh). Who sang that?

[Wm Bach]

I guess the dems forgot that every action has an opposite and equal reaction. They think the well to do will just bend over and take it up the gumper. Boy, are the dems and RINOs in for a big suprise.

Ten years ago, CT was actually losing population. It's curious that after the state income tax was passed, businesses started to fail and the wealthy started opening shop down south, with some of the labor following.

The state barely maintained it's population by importing huge numbers of latino immigrants who immediately moved into HUD housing and went on the public dole, thus putting further strain on the state budget.

If the raisintesticled Rowland signs this dem/RINO monstrosity, the remaining productive population will flee the state, leaving the former mini-powerhouse, CT, nothing but a rotting derelict. Of course, CT can't afford to lose another congressional seat, so even more illegal/quasilegal 3rd world immigrants will be flown in, set up with public housing, food stamps, and a dem voter registration card.

[jimtorr]

Democratic Sen. Martin Looney, co-chairman of the tax-writing Finance Committee,

Seems an appropriate name to go with the job description.

[LoneGOPinCT]

Unfortunately, in Connecticut most of those millionaires are probably DemocRats and don't have the intelligence to care.

BINGO!

Sad but true. A recent local news channel had a viewer poll as to whether of not they agreed with the concept of a "Millionaires Tax". The results were somewhere in the 65% Yes/35% No range. I just don't understand the mentality of the sheeple.

[BlackRazor]

The largest newspaper in Connecticut, the Hartford Courant, is such a liberal rag that I would not let it into my house if it were given away.

I do not disagree with your assessment in the least. However, as a Connecticut resident, I was absolutely shocked when the newspaper endorsed George W. Bush for President, over Al Gore in 2000. The howls of protest that followed in the ensuing letters-to-the-editor were quite amusing.

[NittanyLion]

What am I missing? Isn't the cigarette tax charged to all, rich and poor, equally? Isn't it only charged to smokers? Non-smoking rich and poor pay no cigarette taxes. What's unfair about that?

Nothing. But that never stopped envious folks from using it as a justification to steal others' money.

Incidentally, you'll even find a contingent of class-envy folks here on FreeRepublic.

[ConservativeNJdad]

New York City creates many millionaires, and when they eventually move out of the city, they have four choices: Long Island, Westchester County (in New York), Connecticut, or New Jersey.

The high income taxes in New York State push most of them to CT or NJ. CT used to have the highest average annual income per capita--then they instituted an income tax, so now NJ has that distinction. With this new tax, we are assured of keeping it.

Real estate in northern NJ seems like a good investment.

[Republican Wildcat]

Well, not for long, after they all move out and take their capital with them away from the State. A foolish move by the Connecitcut Senate.

[LoneGOPinCT]

Watch all the million dollar homes go up for sale....lol

Unfortunately, a majority of the millionaires are RATs or Pub Lites who think it's a good idea.

[LoneGOPinCT]

This is ridiculous and Rowland should veto it. What liberal claptrap.

Rowland the RINO has promised a veto. Apparently there still are some taxes he doesn't like.

Moira Lyons (D-Stamford) had the audacity to preface this proposed budget last week by saying "We are not tax-and-spend DemocRATs." How she did that with a straight face is beyond me.

[NittanyLion]

The high income taxes in New York State push most of them to CT or NJ. CT used to have the highest average annual income per capita--then they instituted an income tax, so now NJ has that distinction. With this new tax, we are assured of keeping it.

Sounds like a reverse market of sorts. States keep upping taxes to stay even or just below their neighboring states, because they know proximity prevents residents from moving to a lower tax state. So long as NJ, NY and CT taxes are close, no taxpayers will be lost to a neighboring state. And there's a strong disincentive to quit your job and move hundreds of miles away, so revenue lost will remain small.

[LoneGOPinCT]

Do the scumbags control the House as well as the Senate in Connecticut? The article doesn't say.

You even have to ask? :^)

(yes)