Saturday, February 23, 2019

Connecticut's New Tax and Spend Budget

Governor Ned Lamont's first budget was an extension of former Governor Malloy's budgets.
The budget increases spending and increases taxes.
There was not much new in his speech this week other than if includes his proposed toll plan taxes will increase over $2.4 billion dollars, $1 billion dollars in new and increased taxes along with at least $1.4 billion dollars in tolls.  This is on top of the $4 billion dollars plus in new and higher taxes that were enacted during the Malloy regime. 
In the Lamont budget the sales tax will be expanded to virtually anything and everything that one uses including vehicle trade ins (even though you paid sales tax already when you bought it new or used you will also pay when you trade it in), college textbooks, soda, plastic bags that you pack groceries in, and parking just to name a few.
Lamont is also is forcing some towns and cities to pay for a portion of teachers pensions costs.  For example in Wallingford the town loses over $1.8 million dollars in this category.  One will assume that for the towns that will lose money their property taxes will increase to offset this loss of funding.  These same towns and cities have no say in how teachers pensions are either negotiated and or structured. 
Tolls are an impending nightmare for Connecticut Taxpayers.  Now 50 tolling places will be installed throughout the state with congestion pricing impact rush hour traffic.  The costs of living in Connecticut will increase dramatically as the costs of tolls will be passed on to all consumer and business goods and services.  I wonder how our Governor with all of his supposed years of business experience would not think the cost of living would not go up from these tolls?  Also how do any of the studies come up with the actual revenue figures from these tolls?  How much per mile?  There are an excessive amount of questions with regards to tolls that are not being answered by our Governor.
However, Governor Lamont stated he was open to suggestions on the budget.
Here is a partial list of mine:
Cut state spending in the following areas. All newly appointed Commissioners would take a 10% cut in pay from the last Commissioner when appointed.  They would not have pensions.  Cut the non union workforce in these agencies by 5%.  (Most new Commissioners got massive raises from the old ones.)
Eliminate all longevity bonuses for state employees. 
Eliminate all non essential bonding for two years.  This would lower interest costs and improve the state bond ratings.
Privatize several state agencies including the Department of Motor Vehicles.
Connecticut with its new budget remains non business friendly and non taxpayer friendly.  It continues the irrational economic policies of Dan Malloy and enacts new burdens on both businesses and taxpayers  that will result in more economic stagnation for the state and more moves out of the state.  There is little economic logic in what we have been presented in this new yet old Lamont tax and spend budget.
By cutting spending and cutting taxes it would help stimulate Connecticut's dormant economy.  But instead the opposite occurs.  It is what we have come to expect from the Omnipotent Party Rule of the Connecticut Democrat Party.  Tax and spend.  Forever until Connecticut is bankrupt. 


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