Tag Archives: deficit

Beleaguered Connecticut Taxpayers Saddled with More Debt To Subsidize The Rich and Business

Governor Dan Malloy

Governor Dan Malloy

Governor Dannel P. Malloy announced new state spending that will add an additional $2.7 million in debt on to the backs of Connecticut’s middleclass taxpayers.  After crushing families with the two highest tax increases in Connecticut history ol’ Danny boy has found another way to spend the taxpayer’s hard earned dollars to subsidize big business and luxury automobile buyers.

While the average Connecticut family struggles to stretch their family budget and pay an ever-increasing burden of taxes.  Dan Malloy finds it necessary to give away up to $5,000 to buyers of fuel cell power vehicles, which is not something found on the average family shopping list.  No this is tax money used to subsidize the wants of rich.

In a statement issued by the Governor he said this will “support local retailers by helping lower the price of electric vehicles, making them more competitive”.  Really Governor, is that the best use for taxpayer dollars?  Does the average family need to support local car dealers to insure they make a profit selling cars?

While the legislature is facing a 1.3-BILLION-dollar deficit in the next budget season apparently, Governor Malloy feels it is necessary to give away taxpayer’s hard earned money to those that can afford NEW CARS!!!  Remember this is your money, paid to the state in good faith that it will be spent wisely.

So, what does the Democratic Majority leadership in the State Legislature have to say about this squandering of tax dollars?  Nothing! Their silence is deafening.  They are only talking about new tolls on highways, new sources of revenue and cuts to cities and towns that will require the local government to raise taxes to fund local requirements for State mandates.

This is not the first-time Dan Malloy has fleeced the taxpayers in this fashion.  The Governor was somewhat bragging over his success when he said, “Since the start of the program in May 2015, more than $2 million has been issued in rebates or reserved for the purchase or lease of 960 electric vehicles in Connecticut”.

This subsidy has been one of the shovels digging Connecticut taxpayers into an ever-deeper hole of debt and this round of subsidies is more of the same.  When will we learn to stop digging?  When will we learn that when you cannot afford what you already have it is time to stop new spending?  This is not an investment for our future this is insanity in the present, this is irresponsible and objectionable.  This is detrimental to every taxpayer and family in Connecticut.  Simple put this is unacceptable.

 

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Filed under COMMENTARY, CONNECTICUT ISSUES, CT issues, Democrats CT, POLITICS

Governor Malloy Sees Red Iceberg

The most recent State budget figures show a projected budget deficit in the current fiscal year of $365 million and that like an iceberg is only the small amount you see on the surface.  The real problem lurks below the surface or in this case in the next fiscal year forecast.

If you thought the weather forecast in Connecticut was bad when Storm Sandy was on our doorstep wait until you hear the fiscal forecast.  For taxpayers with health problems such as high blood pressure or issues of stress, it is recommended that you sit down and take a few deep breaths before reading the next paragraph.

According to press reports Connecticut Democratic Governor Dannel P. Malloy said Thursday that the state now faces a potential deficit in the next year of 1.2 BILLION DOLLARS.  Now the next cry you will hear from our esteemed members of the General Assembly will be nobody saw this coming and oh what a big surprise.  Hogwash!

Make work projects of little value including the Busway between New Britain and Harford or the local guiderail project on Route 275 are symptoms of a greater disease, that of overspending.  Combine the addiction to spending with the lack of political will to stand up for the taxpayers over the special interest of union labor and you have the fiscal iceberg our ship of State is about to hit.

Connecticut was once considered to be the richest State in the union and a leader in innovations and skilled manufacturing.  Now we have willingly accepted and voted for economic policies that have turned our vibrant cities into memories of the glory days when their economies were strong.  Our cities have seen their economic engines flee to the suburbs and once vibrant neighborhoods now are dwellings of dependency.

Today Connecticut has the largest burden of debt per capita of any State in our country.  Today the economic engines of the past are closing up or moving on.  Pratt Whitney in East Hartford is only a fraction of what it once was.  This week we hear once again reports of Pratt’s expansion in Florida.

Our ship of State is heading into perilous waters with economic icebergs on the horizon.  Our Governor, Dannel Malloy is looking less and less like a capable Governor and more like the Captain of the Titanic.  He has given us the largest tax increase in State history and now it appears he has overspent his budget in excess of a billion dollars.

Liberal Democratic financial leadership has destroyed our cities and we have now expanded their leadership to weaken our entire State.  The fiscal smoke and mirrors, dog and pony budget shows must stop.  It is time for the common sense sanity of our founding fathers to return.  It is time to limit spending, constrained to what we need and not what we want or what we can borrow.

(For more on Connecticut’s labor issue:  http://wp.me/pPLAn-nl)

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Connecticut Ignores Report, Raises Taxes And Falls Further Into Debt

Word is our Connecticut state government budget is coming up short by a few dollars.  Well actually about 200 million dollars.  This after our financial geniuses in the State Legislation followed the recommendations of our chief financial wizard, Governor Dan Malloy and passed the largest tax increase in state history.  How can this be?

The Governor that raised taxes and put taxes for the first time on nonprescription drugs, clothing under $50, manicures, pet grooming and even increase the burden when your car breaks down with taxes on car towing now tells us we are not contributing enough.  When asked about the budget shortfall he characterized the problem as “basically a revenue problem”.  He seems to want to blame his deficit budget on a weak economy that could be solved if there is an upswing in the state’s economy.

Don’t you just have to wonder if the deficit has anything to do with excess spending?  After increasing taxes the addiction to State spending has continued unabated.  Even the political leaders in Coventry this year got the message and produced a budget without a tax increase and are not looking at a significant budget deficit like our State is facing.

Could it be that the State tax increases actually contributed to the short fall in the budget projections?  Could we have avoided this problem if we only read and applied what we learned in our own studies?   Have taxes caused many people with significant money to flee Connecticut for a lower tax environment?  According to one report the answer to all of these questions is, YES!

Now that is hard to believe but the facts are there and the numbers don’t lie.  Connecticut is heading down the wrong path when it comes to estate taxes.  The State studied the issue then ignored the findings and took action that would worsen our economic strength.  How’s that for an approach to the issue?

If you want to read the details provided by the American Legislative Exchange Council below is a link to their report entitled, Rich States Poor States.  When you get to the site click on the picture of the report to view a PDF file and turn to page 44.  There is a half-page dedicated to Connecticut’s study of the estate tax and the impact of action taken under Governor Malloy.

After reading the report you may have to wonder, just what were they thinking or maybe were they thinking when they voted to expand the tax?  Just why did we really raise those taxes?

http://www.alec.org/publications/rich-states-poor-states/

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