Friday, September 13, 2019

Connecticut's New Secret Food Taxes

The Connecticut Democrat Party loves to tax its remaining legal citizens and businesses.  Striving to have the highest taxes in the country, the Connecticut Democrat Party was able to sneak into legislation a new 1% restaurant tax that increases the taxes you pay in the restaurant from 6.35% to 7.35%.  But this new "1% restaurant tax" is much more than that.
Beginning October 1 most items in the grocery store when you go shopping will be taxed at 7.35%.  Some of the items include the following: 5 or less donuts, muffins, pastries and rolls, ready cooked chicken or turkey, hot dogs in a bun, salad in a salad bar, bagels when individually prepared, warm popcorn or kettle corn and pizza whole or sliced just to name a few items.  In other words all prepared foods and most smaller quantities of food will be charged a sales tax.  Thus for example a senior citizen who may have difficulty in cooking will now be forced to pay a 7.35% sales tax on any ready to eat food they buy from their local grocery store.  Their cost of living will go up dramatically since they will be paying  an average of $30 to $40 a month more in food costs due to now having to pay a sales tax on the food they eat.  Being on a fixed income this will become a major issue for many senior citizens who will now be forced to cut back on food since it has just gone up 7.35% in cost.
The purpose of this new secret food tax is to raise revenue for our never ending Connecticut Democrat Party budget deficits and to increase state spending for political corruption and nepotism (as was seen this past week with the hiring of Ned Lamont's cousins son for a $52000 a year job).
The Connecticut Democrat Party apparently besides despising legal Connecticut citizens and legal taxpayers also want to make Connecticut's senior citizens suffer even more with taxing the food they eat.
This new food tax can only be viewed as a Socialist's dream tax that can cause economic pain on anyone who has to eat in our state.
The Connecticut Democrat Party continues its quest to rid the state of its remaining legal citizens and taxpayers along with now its senior citizens who will suffer the most with these new food taxes.
The solution to the Connecticut Democrat Party omnipotent and ruthless rule in our state is to either move out and or stop paying state taxes to have our state government go broke and then bankrupt.  But wait a minute isn't Connecticut bankrupt already with $100 billion dollars of short and long term debt along with unfunded liabilities?
Not really since the lies the Connecticut Democrat Party has been force feeding its legal citizens is really the truth of the ruling political elite who have no shame, no morals and no ability to govern in our once great state.

Saturday, August 24, 2019

Connecticut's Constant Corruption

Connecticut's experiment with socialism has failed miserably.  Corruption rules Connecticut.
Our state government and in particular the Connecticut Democrat Party enjoy taking our personal freedoms away along with nurturing their political nepotism, unyielding rule and abuse of power and laws. 
Connecticut continues to be last or near last in many economic and business categories.  This weeks failed socialist news items included Connecticut having the highest administrative costs of our road system in the country at a mere $32,508 per mile.  Our highway system is the 44th worse in the country while spending $200,000 per mile it controls according to a new report issued by the Reason Foundation.  It is always amusing when a report like this comes out our media does not report it nor is there any comment by the Connecticut Democrat Party on it.  It is business as usual for Connecticut's socialism.  The Connecticut Democrat Party want tolls now to apparently spend even more money to take care of the political operatives it has and continuing to provide horrific roads and bridges for Connecticut drivers.  Why are our road costs so high?  Where is the money going?  Why isn't there a forensic audit to find out?  
We also are viewing a massive scandal and misuse of Connecticut Taxpayers monies at the Connecticut Port Authority. Former Board Chairman Deputy Secretary of the State Scott Bates apparently used it as his own bank account hiring a friend for a no show $6500 a month job, hiring other friends and buying a board members daughter artwork for its offices.  Connecticut Taxpayers question must be is why is Bates still the Deputy Secretary of the State in Connecticut?  How is he not abusing that office?  Why should there be any trust now in the Secretary of State's office with a person like this being the Deputy Secretary of the State with no reprimand whatsoever?  It is again amusing when a report like this comes out our media does not report it nor is there any comment by the Connecticut Democrat Party on it.  It is business as usual for Connecticut's socialism. 
Ned Lamont claims transparency in his Administration.  Where is the transparency in these two issues?  Where is the justice?  Why is Connecticut Taxpayers monies wasted in this manner?
Connecticut has $100 billion dollars in short and long term debt along with unfunded liabilities.  It has some of the highest taxes in the country.  And we continue to see issues of corruption literally on a daily basis.
The money that has been wasted on these two issues could go to lowering taxes on Connecticut businesses and residents.  Instead we are force fed the same stale rhetoric.  The lies of the Connecticut Democrat Party are tiring.  We should not be a state with two sets of laws, one for the ruling political elite and one for the Connecticut Taxpayer who must foot this bill for constant corruption.

Saturday, August 17, 2019

The Corruption of DECD

Connecticut's Department of Economic and Community Development (DECD) needs to go.  In the realm of trying to create new businesses and attract new businesses it has done little to help Connecticut's chronic recession and debacle of an economy.  It has wasted a great deal of Connecticut's Taxpayers money over the years. 
Some of the new scandals and wastes of money include a Suffield firm that received $3.5 million dollars in loans and still went bankrupt and the new allegations this week that were reported by the Yankee Institute's Marc Fitch (https://yankeeinstitute.org/2019/08/13/the-fitch-files-whistleblower-complaint-alleges-decd-gave-second-loans-modifications-to-delinquent-borrowers/) about a DECD employees complaint about companies that were delinquent with loans kept getting new loans.  For example Connecticut Casket Company received over $850,000 in three loans even though they were delinquent on the first and second loans.  They also received an initial $100,000 grant in 2012.
Other examples are found in Fitch's article highlight the other illegal loans that were made since the businesses were delinquent in their initial loans and or did not meet the job creation requirements that the grant or loan stated.  Also a 2017 State audit found issues with excessively high fees paid to third-party lenders for loans. 
To me what is going on at the DECD is fraud.  You can't make these types of loans in our banking system.  I have tried to read and reread the DECD Annual Report and in some areas it defies economic logic as to what Connecticut is spending on supposed new job creation.  If Connecticut was not so anti business and a high tax state it would not have to bribe companies to stay and or relocate to Connecticut.  And what business in their right mind would want to relocate to Connecticut with all of its economic problems and high taxes it has?  The DECD has done little to improve the state's economy and the results are found in Connecticut's chronic last and or bottom ranking in most economic and business categories.
The Connecticut Democrat Party's constant pay-to-play rules of doing business in the state including a total lack of oversight at the DECD have been a constant factor in the ruining of our economy.  While the nation prospers Connecticut continues its constant march into economic oblivion. 
Supposedly business savvy Governor Ned Lamont should actually show some leadership by dismantling the DECD and lowering taxes to achieve economic stimulation and growth in Connecticut.  The DECD does not make economic sense for the state as it just wastes Connecticut Taxpayer's monies on a daily basis.  And maybe someone in our state legislature would be dynamic enough to order a full forensic audit of this agency and clean it up to close it down.  The money spent on this agency could go to lowering taxes on Connecticut businesses and the laws of supply and demand could actually be seen once again in Connecticut.


Friday, August 09, 2019

Economic Freedom In Connecticut?

What happened to economic freedom in Connecticut?  In the past 28 years since the passage of a Utopian state income tax Connecticut has become an economic nightmare with high taxes, massive short and long term debt along with unfunded liabilities, a net migration of citizens moving out of state and a corrupted state government.  The income tax has created a massive increase in state spending from roughly $7.7 billion dollars in 1991 to over $22 billion dollars in 2019.  And what has this increase in spending gotten for legal state residents?  Higher and more complex taxes with unlimited spending allowed for state management and union employees in wages, benefits and pensions?  The Connecticut State Income Tax since enacted has transferred in excess of $165 billion dollars from Connecticut Taxpayers to our state government and at the same time Connecticut's short and long term debt along with unfunded liabilities is now at $100 billion dollars and rising.  Thus one could ask where did all the money go since 1991?  And more importantly how much economic freedom has been stripped from the state in this same time frame?
This past horrific legislative session brought about some of the most startling changes in our economic freedom for legal state residents and businesses.  From an out of economic equilibrium higher minimum wage that will eliminate jobs and raises prices on everything, a pyroll tax for family leave, the elimination and taxing of plastic grocery bags along with higher and new taxes on many items and services coupled with a strong desire for tolls continues the slow march to economic Armageddon that the Connecticut Democrat Party wants to inflict on the state.  All in the name of a progressive and socialist state government that ultimately wants to dictate to us what we can and can't have, what we can and can not do under the guise of false laws that these same Democrats exempt themselves from.
Thus what happened to economic freedom in Connecticut?
Where did all of Connecticut Taxpayers Monies go?
What has it been spent on?
Why do we have short and long term debt along with unfunded liabilities of $100 billion dollars?
Economic freedom is an important concept to freedom in general.  In Connecticut it is apparent the Connecticut Democrat Party does not want you to have economic freedom.  Or freedom in general.  Sad but true.
It is time for economic freedom again in Connecticut.

Saturday, July 27, 2019

Can Connecticut's Economy Be Repaired?

Can Connecticut's economy be repaired?
Is there any hope for Connecticut's economy?
What can be done to make Connecticut a vibrant economy again?
Depending on what point of view you take Connecticut is a vast economic wasteland or it is one of the most prosperous socialist economies in the country.
If you are a Democrat your non stop command economy demands and laws have help to create a socialists dream of gun control, an excessive minimum wage, high taxes, a taking away of personal freedoms along with rampant illegal immigration with a more than generous welfare system.  The legal system does not pertain to you or your party.  Laws are meant to be broken.  Political nepotism rules.
If you are a Republican you are thinking about moving out of state as fast as you can.  You are supposedly always in the minority and have no voice or say in state government.  The state economy remains near last or last in all economic development, job creation and business development categories.  The state media is a feeding system for the Democrat Party thus their non objective reporting on all economic issues.
There is not really much being offered to change Connecticut's economy.  Connecticut's legal Taxpayers and businesses realize they work only to support a bloated state government whose only concern is state management and union employees salaries, benefits and pensions.  They also realize there is little they can do to address Connecticut's growing $100 billion dollars plus short and long term debt along with unfunded liabilities since the Democrat Party could care less about it.  They also realize they have literally become indentured servants to Connecticut's state government.
Thus what can be done?
At this point literally nothing unless there is balance in state government.  The Connecticut Democrat Party has been in control of the state house for 40 plus years and an almost equal time for the state senate.  It is their political rule that has brought the state to its economic knees.  It has been their corruption and pay to play schemes that have disrupted our economy and forced its citizens to leave.
Cut spending, cut taxes, we all know it falls on deaf ears.  But it is what is necessary to get Connecticut to become a free economic system once again.  Think about it if you dare to.


Saturday, July 20, 2019

Connecticut's State Pension Crisis

Hidden in the economic debacle created by the Connecticut Democrat Party is the ongoing state pension crisis.  According to a new report released by the American Legislative Exchange Council Connecticut is dead last in total ratio pension funding in the country coming in at 20.28% of the money needed to fund the pensions, thus being underfunded by 80%. The unfunded pension liability amounts to $32,805 per person in the state and 45.13% of Connecticut’s gross state product according to this report.
Connecticut assigns a very high rate of return of 6.9% to its State Employee Retirement System and an even higher 8% rate of return for its Teachers Retirement System.  Both funds do not achieve this rate of return as far as I can research.  With limited information to review I see that the Teachers Retirement System is seriously underfunded and their rate of return is also seriously understated.  Therefore both funds are underfunded by $70 billion dollars.  This debt will only grow in the future and is a massive part of the states yearly budget in costs.  I estimate in the near future that due to the borrowing for these pensions along with the actual annual contributions the state makes to them and the pension payouts themselves, 20% or more of the state budget will account for employee pension costs.
Governor Lamont's solution like former Governor Malloy's solution is to push payments down the roads years from now and continue to estimate the same rates of return on the pension funds. Thus future generations will be bankrupted trying to pay for these pensions for a small minority of the workers of the state.
This current pension crisis should have been addressed in this legislative session.  Obviously it was not.  Where is the money going to come from in the future?  How is this sustainable?  What is coming next a new tax to pay for the state teacher and employee pensions? 
Pushing payments years from now to pay for the funds just exaggerates the issue.  Realistic rates of return along with self funding pensions should be immediately enacted.  Negotiations need to be implemented to restructure pensions to stop these massive costs from bankrupting Connecticut.  I think many legal citizens and legal taxpayers of the state are fed up with these ridiculous salaries, pensions and benefits that paid out yearly to suffice a ruling political elite of the state.
It is time to address Connecticut's state pension crisis today.

Friday, July 12, 2019

Connecticut Turnaround? Where?

Where is Connecticut's economic turnaround?
I am curious as I can't see what Governor Lamont sees nor what the Connecticut Democrat Party sees as far as an economic turnaround.
Where is the economic turnaround?
Is it in the higher taxes that will be going into effect on August 1st?
Is it in the banning of plastic shopping bags next year?
Is it in the higher business taxes that will be going into effect this year?
Is it in more businesses moving out of the state?
Is it in Connecticut being last and or near last in most economic and business categories in the country?
Is it in shoving tolls down the throats of Connecticut's drivers while raiding the Transportation fund and leaving our state roads and bridges in disrepair?
Is it in the time of recovery from one recession to another recession that Connecticut can never seem to get out of as compared to the rest of New England?
Is it in the amount of sanctuary cities Connecticut's Taxpayers have to support in the state?
Is it in the $100 billion dollars in short and long term debt along with unfunded liabilities the state has?
Is it in the net outflow of legal citizens moving out of Connecticut on a daily basis?
Where is Connecticut's economic turnaround?
Sorry I do not see it.
Governor Lamont is confused and offered nothing to rectify these issues in the unbalanced budget that he signed into law.  We are now in the ninth year of economic failure and counting due to the Connecticut Democrat Party.
We do not have an economic turnaround.  We have a great deal of economic misery instead.