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.
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