Elizabeth Ritter better known as “Betsy Ritter” is the Democratic State Representative from the 38th Assembly District representing citizens of Montville and Waterford. She may also be considered a Four Star General in a battle against Connecticut business; with her deceptively titled heinous bill she calls An Act Concerning A “hoarders’ tax”.
Betsy Ritter was recently asked by Speaker of the House Brendan Sharkey (D-Hamden) to serve as his Deputy Speaker, the person who presides over the House of Representatives when Rep. Sharkey is not in the chamber. Rep. Ritter also serves as a member of the legislature’s Appropriations, Human Services and Energy and Technology committees.
Her Proposed Bill No. 5595 calls for “the [Connecticut] General Statues to be amended to institute a small tax on companies’ liquid assets”. This is more than a “small tax” this is full frontal assault on every business in Connecticut.
In leading the charge “General Ritter” first planned a move of deception with the title of her bill. It is accepted knowledge that a “hoarder” is a saver, collector, accumulator or even a stasher. The dictionary gives us a meaning of a hoarder as one that collects or stores often secretly, large amounts of things such as food or money for future use.
“General Ritter” is actually proposing to tax operating cash of a business, the money they need to have available for day to day activities and to meet financial obligations. This is money that was already considered and calculated when other taxes were paid. This is any money that may remain in the hands of business, after sales tax, business entity tax, income tax, fica taxes and the list of taxes goes on and on.
This money is not hoarded and hidden; these are necessary funds with which to operate a business. This akin to telling a family, you legally paid all your taxes, you put some money in the bank and we taxed that income and now we found some in your pocket so we want some of the spending money you have.
This proposal is not only an attack on business but would also reduce job opportunities. There are far too many businesses in Connecticut operating on the edge of financial extinction; we have seen too many businesses close their doors. This proposal is worse than dreadful it is evil.
Betsy Ritter is in a position of power, and has considerable experience in the world of politics but her understanding and empathy of the business world is appalling. I would like to think Betsy Ritter is a well-educated leader of distinction and in this case just ignorant of business operations, because the alternative is to think she honestly desires to attack our business climate and job opportunities in Connecticut.
We only need to look at our history and “small taxes”, President Roosevelt proposed a small limited tax, it was a “small step”, and today we call it our “Income Tax”. “General Ritter” may understand the strategy of politics but we don’t need a charge up San Juan Hill on Connecticut business.