More Bad Tax News In Democrat Connecticut For Connecticut Taxpayers: Senate Bill No. 999

The news is never good when it comes to taxes and tax policy in Connecticut.  King Ned Lamont The Unaccountable and his Omnipotent ruling Democrat Party are now backing much higher property taxes for Connecticut residents through Senate Bill No. 999, "AN ACT INCREASING THE UNIFORM ASSESSMENT RATE FOR PROPERTY TAX".  This bill would increase the state-wide assessment ratio on property from 70% to 75%, effective with the assessment year commencing on October 1, 2023.  This proposed change will produce immediate tax increases in municipalities across the state by a large amount.

As it stands, Connecticut already has some of the highest property tax mill rates in the country.  In economic terms, this increase in valuation from 70% to 75% allows for municipalities to further increase their tax bases and their tax revenues. Raising property valuations by 5% increases property taxes by 14%, thus ratcheting Connecticut into being one of the top five highest property taxed states in the country in addition to being one of the worst five economically.

It is apparent that the excessive state and local tax burden in Connecticut is already driving out citizens and businesses from the state. Once can also argue successfully that these same high taxes have contributed to Connecticut's poor economic performance for many years now and has kept the state in a virtual, perpetual economic recession with little chance or change for economic growth.  One can also argue successfully that it is economically insane for the state to assess more high taxes and then turn around and give more Connecticut Taxpayer paid for-tax based, economic tax credit incentives, zero percent "sweetheart" loans with sickeningly low interest rates often leading to complete loan forgiveness, and to provide more unjustified giveaways to businesses and individuals for moving their businesses to the state with a false promise of expanding them.  This happened quite frequently with the integrity-bereft Lamont Administration channeling monies to Lamont family hedge fund and related companies such as Sema-4, UNITE US, and Vestwell. 

The Connecticut Department of Economic and Community Development ("DECD"), under the guise of secrecy, is the seeming arbiter of the winners and losers in Connecticut's economy.  DECD  does this through bulbous Connecticut Taxpayer-funded tax breaks that have been given with little to no oversight nor ramifications for both the lack of disclosure on their secret "deals" as for the loans and other aspects of the agreements. This situation becomes frighteningly clear when the businesses fail (and/or) move out of the state, most recently seen in the Lamont-based carpetbagging masterpiece known as Sema-4. 

As we have seen in this 2023 legislative session, the Connecticut Democrat Party can not tax Connecticut Taxpayers enough to pay for their socialistic agenda of political nepotism, the taking of personal freedoms, the stripping of personal wealth of the working middle class, the embracing of crime and criminals rights over the rule of law, a total disregard of the state constitution and the brainwashing of the state's young people.  The daily gibberish force fed Connecticut Taxpayer's through a state run media along with the lack of transparency in Ned Lamont's state government should scare both sides of the political aisle along with anyone having a pulse.  Yet it is embraced and rewarded through the corrupted political game called state government.

Higher taxes through this new Senate Bill No. 999 along with the all the other new and higher taxes on energy and other items will all help to cement Connecticut's economic failure for the rest of the decade.  Another lost economic decade is on tap as has been the case in the 90's, 00's, and 10's.  Connecticut still has a mere $150 billion dollars in short and long term debt along with unfunded liabilities that is ignored since those elected officials and state employees who helped to create this nightmare will be long gone out of Connecticut, fleeing to low taxed Republican governed states, when the real economic crisis of bankruptcy falls upon the state in several years.  The state's spending and debt is not sustainable.  Cutting taxes, cutting the waste and fraud in state government is never an option, nor is it ever discussed by the ruling class.  The economic end game of one of the highest taxed states in the country will help to create its bitter and horrific collapse. And we are again at a point in history, both socially and economically, that it is 1776 all over again.