Showing posts with label Connecticut budget deficit. Show all posts
Showing posts with label Connecticut budget deficit. Show all posts

Saturday, September 12, 2026

Excessive Taxation: It Just Would Not Be Connecticut Without It

 

In early 1966 The Beatles learned they faced a 95% top tax rate under Harold Wilson’s Labour government. George Harrison, who had grown up poor, was stunned that most of their new wealth was disappearing. In a February,1966 interview. he compared Wilson to the Sheriff of Nottingham, and was moved upon to write the following song lyrics:

Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman
Yeah, I'm the taxman
Should five percent appear too small
Be thankful I don't take it all
'Cause I'm the taxman
Yeah, I'm the taxman
I'll tax the street
(If you try to sit, sit) I'll tax your seat
(If you get too cold, cold) I'll tax the heat
(If you take a walk, walk) I'll tax your feet
(Taxman)
'Cause I'm the taxman
Yeah, I'm the taxman
The Taxman; The Beatles 1966 https://www.thebeatles.com/taxman
 
Two things in the above historical scenario are extremely fascinating to me. The first is that politicians through the ages have felt that just about every social problem can be solved by increasing taxes and types of taxes. The second is that these same politicians never seem to be fazed by the departure of citizens from their region as the result of that increased taxation.
Just like George Harrison sixty years ago, and thousands of Connecticut residents today, the best, the brightest, and the most productive leave places where their very lifeblood is sucked from them by government. In Connecticut, the primary blame falls at the feet of Democrats for this economic wreckage, while a tepid at best Republican contingent has provided scant pushback (or tacit acceptance ) of these destructive policies.
 
First let us examine the Democrats. The Connecticut Democrat Party love taxes, and to tax.  Why they have not yet taxed the air we breathe is beyond me.  Therefore, let us look at some of these taxes are embraced, nurtured and raised on a regular basis to support a bloated, deficit ridden Democrat state budget, gross Administrative State incompetency and over-compensation, and long-term debt.
 
Business taxes? One may wonder how any business stays in business in Connecticut with the taxes businesses pay.  In addition, please note that Connecticut's Business taxes rank near the highest in the country while the Business climate ranks in the bottom five in the country.  

Let’s start our list as is stated on  


Corporation Business Tax: C-corporations pay a flat rate of 7.5% with a minimum tax of $250, plus a 10% surtax for large corporations. Pass-Through Entity (PTE) Tax: S-corporations, partnerships, and LLCs treated as partnerships face a tax rate of 6.99%.

Sales and Use Tax: The state general sales and use tax rate is 6.35%, applied to retail goods and certain services.

Personal Income Tax: Sole proprietors and single-member LLCs report business profits on personal income tax returns, with progressive rates from 2% to 6.99%. 

Unemployment Insurance Tax: Employers must pay this state tax to cover eligible unemployed workers and have often paid for those collecting illegally as it is well-known that the state bureaucracy is far too inept to catch cheaters.  (Just ask any business owner).

Here are some other business taxes paid in the state:

Admissions and Dues Tax
Attorney Occupational Tax
Alcohol Beverage/Distributor Tax
Business Entity Tax
Cannabis Tax
Cigarette Tax
Composite Income Tax
Controlling Interest Transfer Tax
CT-IFTA
Dry Cleaning Establishment Tax
Electric Companies
Electronic Cigarette Products Tax
Estate/Gift/Succession/Trust  
Gasohol Tax
Gross Earnings Tax
Health Care Provider User Fees
Insurance / Health Care Taxes
Miscellaneous Tax
Motor Carrier Road Tax
Motor Vehicle Fuels Tax
Pass-Through Entity Tax
Petroleum Gross Earnings Tax
Prepaid Wireless E-9-1-1 Fee
Real Estate Conveyance Tax
Rental Surcharge Annual Report
Room Occupancy
Solid Waste Assessment
Special Fuel Tax
Tax Paid Motor Vehicle Fuels Tax
Tobacco Products Tax
Tourism Surcharge
Unrelated Business Income Tax

If you are a business in the state, you are collecting a great deal of different taxes, all requiring different forms to fill out and pay from. Also,
there is always confusion as to why gasoline and diesel prices are so high in Connecticut.  Walk up and ask this question of any Democrat, and you will be condescendingly told that these taxes are the fault of President Trump.  If a sane individual looks more closely Connecticut drivers pay a 25 cent per gallon excise tax, an 8.1% special gross receipts/earnings tax per gallon, and 18.4 Federal excise tax per gallon.  Thus 51.4 cents of each gallon of gas you buy is tax.  
 
And since all goods are brought to you by a truck, that all factors into "affordability" And Donald Trump has had absolutely nothing to do with any of that issue of "affordability" in Connecticut.
 
 Do you dislike that? Well, it gets even worse. In Connecticut. there are over 850 different business licenses and permits one needs to apply for when either starting a business and/ or working in one of these 850 different areas in the state.  The question that now needs to be asked (and avoided by everyone in politics) is why so many illegal aliens were given Drivers licenses in Connecticut, and how many of the illegal aliens who currently reside in Connecticut have avoided getting any of these permits/licenses?
 
Connecticut Taxpayers are taxed on mostly everything they consumer and/ or work for.  Connecticut's Utopian State Income Tax (which was going to solve all of the state's budget problems starting from 1991), is progressive with a 6.99% graduated rate.  Tax exemptions are minimal except for those who are here illegally and do not pay (but yet can have a driver’s license and presumably be allowed to vote).  While working, you will pay a Connecticut Paid Leave funded by an employee payroll contribution tax of 0.5% of your total eligible wages up to your Social Security base limit.  Yes, you get to pay a tax on "paid leave" even though you may never use it and the bulk of the money goes to administration costs of implementing it (Read: paid political patronage jobs). 
 
Sales tax is charged on an excessive amount of different items.  But yet, as a bone thrown to Connecticut Taxpayers, for one week only, only once a year is "Tax Free Week"!  This allows the peasants better known as Connecticut Taxpayers, an exemption applies to individual clothing and footwear items priced under $300.  Items include are everyday clothing, footwear, along with backpacks and athletic cleats.  (Gee…isn’t Connecticut great!)
 
Electricity costs are one of the highest in the country.  A big reason is the "Public Benefits Charge" which according Eversource is the "portion includes costs mandated by the state and federal government for financial assistance and energy efficiency programs, purchasing renewable and carbon-free electricity, and funding solar and electric vehicle incentives to help make it easier to take advantage of clean energy options." (https://www.eversource.com/residential/account-billing/manage-bill/about-your-bill/understanding-your-bill/delivery-charge-supply-cost). For many this charge accounts for 20% of their bill and should also be considered a tax.  In trying to see where this money is going along with how much greater energy efficiency is progressing, is difficult to ascertain in true Connecticut Non-transparent fashion. 

Even though this is supposed to be something different, one must then conclude that this is yet another Connecticut tax.
 
But wait! You ARE happier in Connecticut than other states in the country according to a bombshell report! https://www.wtnh.com/news/connecticut/connecticut-ranks-in-top-10-happiest-states/  From the report; Connecticut ranks in the top 10 happiest states, according to a new WalletHub study! The study weighed internal and external factors, such as the number of adults suffering from depression, adequate sleep rate, suicide rate, number of work hours, volunteer rate, separation and divorce rate, safety and the share of adults feeling active and productive. Connecticut was ranked as the seventh happiest state in America!  In reading the metrics of the study, there was indication how these results were generated. As one X commentator noted:   Happiness is much different than most states. Happiness is waking up to see your car wasn’t stolen in the night. “Happiness is knowing that the CT General Assembly is not in session and as such another new tax wasn’t shoved down our throats. Happiness means your favorite family-owned restaurant hasn’t closed due to abusive taxation and utility rates.” https://x.com/MrIkeTurner14/status/2097662345988170161
 
Connecticut is drastically over-taxed and even with that, continues with $100-$150 billion dollars in short- and long-term debt, along with myriad and massive unfunded liabilities.  Connecticut is drastically over-taxed and still ranks as a "Top Five" state in high taxes.  Connecticut is drastically over-taxed and still ranks as Bottom Five state for business climate and conditions.  Connecticut has a highly redundant, error-prone, and overpaid Administrative State that neither party has proposed reworking for decades. The model is failed, and has failed for decades. At what level of taxation will the state debt be paid off and a real balanced budget exist?  100%? 200%? More?  Does any politician even know? (Or care?)
 
Of course, in a sane world, the best hope for turning the tide of such an oppressive regime would be the stalwart voice of the opposing political party. But unfortunately, Connecticut is not a sane world, and the same decades long situation exists here as well, in reverse. This past week the Connecticut Republican Party unveiled their “affordability” tax plan which promised at best spot relief and no fundamental changes to a wretched and failed system badly needing restructuring from the top, down. https://ctmirror.org/2026/09/09/gop-legislators-ct-tax-relief/

Predictably, even this lukewarm at-best proposal received major pushback from economically insane Democrats that first blamed Donald Trump, and secondly, decried any proposal that would disturb their well-seated food chain. Meanwhile, Republicans, rather than assailing the administrative bollix of Connecticut government and the flattening, lowering and simplification of tax rates, chose to argue minutia with Democrats rather than a severe full-throttle approach that is so desperately needed if Connecticut ever hopes to be the least bit economically attractive in the future. It must not be unmentioned that this was a Republican party that deliberately and inexplicably excluded a competent and formidable gubernatorial candidate proposing the framework of a simplified tax reduction plan, without explanation or reason. This glaring question remains  with an answer of deafening silence.
 
 
But Republican failures are a minority failure in the face of a gross horrible morass. Real facts do not lie.  The super-majority Connecticut Democrat Party lies and pontificates daily with a bureaucratic maze of bureaucracy, fraud, waste and inefficiency. It has created a Connecticut where lies are truth and truth are lies, Connecticut Taxpayer be damned.  The only hope would be a Republican Party that would turn the corner and drastically rework the cancerous mess of Connecticut and its putrid and burdensome tax structure. This has not happened for decades.
 
But even so, kindly tell me why you are voting for Democrats again in November? Possibly, it is because you hate Donald Trump, who had absolutely nothing to do with the economic horrors of Connecticut, but yet, reduced your Federal taxes by 20% and promises more cuts in the future if Congress cooperates. But if that is not acceptable to you,keep hating Trump, watch your insurance bills skyrocket, watch your cities crumble and continue to pay dearly for the colossal horrors continually brought to you under the Democrat reign of perpetual failure.

Saturday, January 17, 2026

Connecticut: The Economy Stinks. So, Let's Make Things Up.

 

“Small businesses are the heart of our communities and economy. Yesterday in Southington, I toured F&F Concrete Manufacturing, spoke with local business owners, and visited Southington High School to hear from students about their goals.”

“Showing up and listening matters.”

(Ned Lamont, Governor of Connecticut- “X” Post- January 15, 2026)

As more and more businesses leave the state or close up in the face of that irrepressible “Ned Mojo,” https://www.wtnh.com/news/connecticut/new-haven/macys-closing-cheshire-south-windsor-distribution-centers-cutting-over-1000-positions/, as small business farmers are being driven off of their farms due to tax policies that are abysmal even by Connecticut standards, https://www.wfsb.com/2026/01/13/state-leaders-push-moratorium-some-farms-see-300-increases-under-new-assessment-rates/ and as irrational energy policy is not replaced by simple and effective fixes, (Study: Nuclear, natural gas would save New England hundreds of billions over renewable mandates)  any sane person can only wonder if Governor Lamont is the least bit sane as none of his nattering represents the sad reality of the crumbling of Connecticut. 

(https://hartfordbusiness.com/article/study-nuclear-natural-gas-would-save-new-england-hundreds-of-billions-over-renewable-mandates/)

Several prominent historical figures (most recently, Presidential candidate H. Ross Perot) reminded us that if we do the same task repeatedly with the hope of achieving different results, we are insane. Mr. Perot should have moved to Connecticut, where insanity has been the Gold Standard of the ruling Connecticut Democrat Party and the Connecticut administrative state for many years. The “moderate businessman” Governor Ned Lamont in professing his continual love for Connecticut, is the equivalent of Mark David Chapman who expressed his love for The Beatles by assassinating John Lennon in 1980. There simply is no rationality or reason for the economic dealings of Connecticut where destruction and business closure is now an almost daily event. And for solutions, that is easy. There has never been a problem that the Democrat-run state government cannot “solve” by simply throwing more Connecticut taxpayers’ money at it.

The true reality is that Connecticut still suffers from many of the same problems it has faced since 1989. The economy in particular is consistently ignored and overlooked, as it has been for more than 35 years. Connecticut has never economically recovered since that recession of 1988–89. According to the September jobs report published in December, Connecticut is losing jobs. The state ranks 50th in payroll growth from 1989 to 2025 and is one of only three states that have failed to fully recover from the Great Recession.
(https://hartfordbusiness.com/article/carstensen-federal-budget-cuts-structural-gaps-put-ct-jobs-at-risk/utm_source=ActiveCampaign&utm_medium=email&utm_content=Equipment%20supplier%20buys%20Southington%20building%20for%20%241%204M%20%7C%20Developer%20buys%20CT%20office%20tower&utm_campaign=HBJ%20Today%20011326)

Since 2020, the state has continued to lose jobs while state spending has grown dramatically since 1989. During this same period, Connecticut’s population depending on the year, has either declined or remained stagnant. Businesses come and go, with fewer new business formations occurring unless subsidized by taxpayer-funded incentives and goodies from the Connecticut Department of Economic and Community Development (“DECD”). But in Connecticut, facts do not matter. According to a recent U.S. News & World Report ranking on fiscal stability, Connecticut ranks 48th out of 50 states.
(https://www.usnews.com/news/best-states/rankings/fiscal-stability).

Given these facts, why isn’t Connecticut’s economy the central theme of the 2026 election? Why aren’t Republicans screaming about this, daily? Why are they silent on these most critical matters? There is ample data showing that Democrat control has coincided with long-term economic decline since 1989 . Year after year, we hear the same rhetoric: more spending here, more spending there, more “SomethingCT”- type organizations need to be set up, more funding is needed for nonprofits, more cash for state employees, more cash for education, and more spending ad infinitum. And this increased spending has produced dismal results. Businesses continue to close, residents move out of state, crime persists, illegal drug abuse remains widespread, and infrastructure continues to decay.

None of Connecticut’s political class questions why the state spends roughly $27 billion annually with little to no measurable economic growth or meaningful resolution of these chronic problems. At the same time, the state ignores between $100 and $150 billion in short- and long-term debt and unfunded liabilities. How is this a successful economic policy? And how does it benefit Connecticut businesses or taxpayers?

But Connecticut is extremely good at one thing. Faking. Faking of grandiose faux economic programs. Faking of grandiose economic programs such as “QuantumCT”    https://www.quantumct.org/, where the state has committed $121 Million dollars to fund a dream concept of quantum computing that will save the state of all of its ills. A review of the website indicates no commitment in this regard of any economic worth. The resident economist of the University of Connecticut has clearly stated that this project will take years to bear any fruit, if it ever does. The usual state GOP silence on matters such as this has become deafening. (My friend and colleague Tony De Angelo did an excellent job of covering these economic farces on the January 15 THIRTY WITH TONY) THE CONFIDENCE GAME THIRTY WITH TONY JAN 15 2026 

Regardless of the continued taxpayer-supported efforts at prevarication and fakery, the reality is that Connecticut has massive economic problems. Connecticut has massive debt problems. Connecticut has massive illegal immigration problems. Connecticut has many serious challenges not aided a historically docile Republican party yet Democrat Party leaders are more concerned with exempting themselves from the laws they impose on others, while engaging in daily incoherent and irrelevant attacks on President Trump and common sense.

Pick almost any topic. Can anyone clearly explain why criminals appear to have more rights than victims in Connecticut? Or why illegal immigrants should be supported without question by Connecticut taxpayers? Or why Connecticut forbids police to arrest and detain illegal aliens? Or why Connecticut’s state government stripped citizens of their right to earn a living during the pandemic while Governor Ned Lamont’s hedge fund was able to profit?

Connecticut desperately needs change from top to bottom in its stale, entrenched Democrat-controlled state government. That government has driven the state into an economic quagmire with no clear path forward.

Perhaps Republican candidates for state office can finally have the courage to make this the central issue of the election: You are not better off under the Democrat Party regime that has governed and failed Connecticut for decades.

With lower taxes, less spending, a renewed commitment to law and order, real accountability, and transparency at all levels of government and new leadership, Connecticut can once again become a vibrant state. 

The time for that change has finally come.

 

 

Saturday, May 10, 2025

Who to believe in Connecticut?

 Who to believe in Connecticut? This is a question without an answer. Take the Connecticut Health System. We found out this past Thursday night that Dr. Deidre Gifford retired from her leadership role at Connecticut’s Office of Health Strategy. Mind us all this is not some quiet fade into the sunset, but rather it is a blaring siren of scandal, drenched in fraud allegations tied to a canceled Medicaid audit. That audit, abruptly shelved, is linked to a bribery case involving Konstantinos Diamantis, a former state official now infamous for questions on his dealings. Emails uncovered in the investigation show Gifford was in on discussions about contracts and payments that reeked of kickbacks. And if that is not enough, her legacy and professionalism reaches all the way back to the debacle of her Covid-19 management and her incessant push for vaccines harming many innocent citizens and children. And her career reaches back even farther to her leadership of the Department of Social Services (DSS), and it was a masterclass in screwing things up. Under her watch, administrative costs ballooned—state audits pegged DSS spending at $50 million over budget in 2018 alone, with no explanation beyond “operational needs.” Access to care cratered too: rural clinics closed at triple the national rate, leaving swaths of eastern Connecticut without Medicaid providers. Deidre is an exemplar for a leader in King Governor Ned Lamont the Unaccountable’s Connecticut; screw up, get involved in multiple failures and swindles, become unaccountable, hide, and when the wolf starts for your door, quit, skip out, and cash in on taxpayer money. It is the Connecticut Gold Standard.

Who to believe in Connecticut? That is easy! Believe Ned Lamont! The Unaccountable was crowing on Thursday about U.S. News and World Report ranking Connecticut #8 in its 2025 economy category, which sounds great until you dig into how they got there. For the economy part, the report focuses on business environment, employment, and growth. Connecticut scores decently here because of the statistical and income distortion of Fairfield County millionaires and Yale graduates. But here is the catch: it tanked at #48 for fiscal stability and #43 for opportunity. So, we see that U.S. News is cherry-picking features to a privileged few and downplaying the ugly characteristics we are all too familiar with. There is no mention of the 2025 "Rich States, Poor States" report ranking Connecticut 44th for economic outlook and 48th for performance. There is no mention of the state’s crushing pension debt, high taxes, serial and blatant corruption, and business-hostile regulations. So, in the final analysis, you can’t believe The Unaccountable either, (but you already knew that).

Who to believe when it comes to the Connecticut Legislature? This is another unanswerable question. We do not know, especially when it comes to state budgets that normally are voted on at all times of the day and night with no transparency. There are no negotiations on state budget with the minority Republican party, even though this year Republicans presented a tepid alternative budget that somewhat lowers taxes and cuts spending.  “This budget is a step toward what residents deserve—affordability, accountability, and flexibility in the face of federal funding uncertainty,” stated Finance Committee ranking member Rep. Joe Polletta (R-Watertown). But the Democrats immediately condemned the Republican plan as “House Speaker Matt Ritter (D-Hartford) said the plan is “not the most serious document I’ve ever seen, so we’ll probably have to write this one off.” (https://www.cbia.com/news/issues-policies/house-gop-state-budget-plan). Certainty the last ten years of Democrat fiscal horse-manure rammed down Connecticut Taxpayers throats are not the most serious documents I have ever seen and should have been written off for their excessive taxation, spending and loss of personal freedoms slammed into them. But again, Connecticut's Democrat party does not believe in either opposing voices, co-operation with elected officials from the opposition party nor any type of compromise or citizen input. They rule with an iron hand.

Trying to understand this new Democrat budget that again raises spending and taxes offers nothing different than in past budgets. Spending will go up over $1 billion dollars, since the first year of the budget increases spending over $395 million dollars, and the second year follows suit with over $770 million dollars according to initial estimates. Estimates of new and higher taxes for the first year of the budget are over $935 million dollars and over $1.2 billion dollars for the second year, although these figures are both secret and uncertain at the time of this writing. But who cares? As a reminder, Connecticut has $100 to $150 billion dollars in short- and long-term debt along with unfunded liabilities. Connecticut is unattractive to new citizens and businesses with its excessively high taxes along with a non-transparent and corrupted government. Why move to Connecticut? Why move your business to Connecticut? Given this economic situation of high taxes and high state debt it really would be an economically incoherent move.

Who to believe in Connecticut regarding solutions to the messes? Solutions are nonexistent to Connecticut's fiscal problems in the realm of the political class. I have written about this for many years now and all is getting worse. Connecticut badly needs a citizen driven "DOGE" type commission as has been recommended by my good friend Tony De Angelo on his weekly segment on the Lee Elci show 94.9 (https://www.youtube.com/watch?v=TBxTuCSLdCw) A no holds barred approach of dismantling the current bureaucracy is critically necessary and would be truly helpful to Connecticut Taxpayers to see where their hard earned tax monies actually go to.  Is Connecticut efficiently run? Is there waste and fraud occurring in the state budget? Are all monies accounted for going to the correct accounts and programs? Does state government have excessive management positions and or excessive "do nothing" types of jobs? Why are public hearings on state spending issues limited in nature? What is the plan to pay off the state's massive debt? Could you really trust anyone connected to a state paycheck or income stream to give you an answer on any of those questions? (And it is almost a certainty that the next Republican candidate for Governor will turn against such a necessary analysis and will state his or her belief that the state can fix itself fiscally with a little help and guidance).

But citizens now know that their government is untrustworthy. The list is endless on what a Connecticut type DOGE could investigate and find. Just think at how much money could be save for Connecticut Taxpayers? Just think of the economic boom the state could have with more money freely being used by private citizens and private businesses rather than Connecticut's Democrat Party and its associated bureaucracy deciding who gets what. Connecticut would be much better served with a fully transparent government along with a true system of checks and balances.

In closing, Connecticut Taxpayers are no longer being represented or heard in Connecticut's failing, politically inept and stale one party ruled government. A bizzarro-type government where increasing incompetency and fraud is rewarded while you pay more each year to see things get worse and worse. But who can you believe who tell you the truth? The sad fact is that there is seemingly no one whatsoever connected to government that you can believe in Connecticut for any reason, anymore.

Saturday, March 08, 2025

Connecticut! A Train Wreck In The Making

 Connecticut! It is home to an estimated 3.6 million souls. This same Connecticut has spent the last 35 years playing demographic musical chairs in its continual mission to destroy itself from within.

Connecticut! Let us start with illegal immigration. For the last few years, Connecticut’s Fearless Leader King Governor Ned Lamont The Unaccountable told us via his state-run mouthpieces that Connecticut did not have an illegal immigration problem, while anyone with any knowledge of facts rather than fiction found that statement to be laughable. Today, we see Illegal immigrants continually pouring in, while the state’s higher-educated, higher-income, and downright wealthier citizens tired of carrying the costs of this destructive foolishness, transition to saner, safer, and lower-taxed jurisdictions. Who can blame them? Connecticut boasts some of the nation’s most punishing property, state, and business taxes, not to mention sky-high housing, insurance, transportation, and electricity costs. Living in this liberal paradise does not come cheap. Just ask your wallet, or your neighbor.
 
Connecticut! If you want to be insulated from the plight of being a battered taxpaying legitimate citizen in Connecticut, there is another way! Join the government, or better still, the Connecticut State Legislature and become a member of the patrician class! Because if you are a member of the Legislature, you can go through life being a part of the most impractical, nonsensical and citizen crushing legislation ever known to mankind. But you need not care. Reality, and the burdens of the citizens you purport to represent are simply not your problem. You barrel forward in this current session, hell-bent on spending taxpayer cash with the restraint of a drunk at bar closing time and equivalent respect for the rule of law. After all, you are entitled.
 
Connecticut and governance? I really wonder as to how many legislators of any political stripe even understand this most critical concept in the least. As just one example, nonprofit governance in Connecticut is an overflowing out of control fiscal sewer. As you may recall, I recently shone a spotlight on the state’s nonprofit glut—24,195 active tax-exempt outfits as of 2025, according to ProPublica (https://projects.propublica.org/nonprofits/states/CT)—a tangled web of political cronies and taxpayer-funded freeloaders, toadies, lackeys and hangers-on. Between 2019 and 2023, my analysis indicates that roughly 1,500 to 2,500 unique nonprofits consumed state funds, with annual recipient counts swinging from 600 to a bloated 1,200 in 2022, courtesy of budget dumps of your taxpayer money. Being in the Legislature, you may have heard about the Federal DOGE effort to root out fiscal waste, fraud, and abuse where a dilution in federal funding can severely impact the funding of your inept, illogical, and redundant pet causes, but you really do not care. Because, you see an inexhaustible resource in continually reaching into the pockets of state taxpayers. But in your mind that is fine, as who the hell cares about the average citizen, anyway?
 
Connecticut! Where the mind of most Democrat legislators treats their “causes” to be more important than life and reality. Take the Scholars Strategy Network (SSN), a Boston-based outfit with suspiciously cozy ties to the Connecticut Democratic Party and the University of Connecticut (UConn). Its Executive Director, Paola Maynard Moll, rakes in $158,403 plus a tidy $30,532 in "other" compensation—nice work if you can get it, right? (https://projects.propublica.org/nonprofits/organizations/270480740). House Democrats gush over its "Collaborative Effort" with such groups, conveniently forgetting to invite the minority party to the party. They wax poetic: "Using objectivity and scientific methods, they analyze the effects of policies or interventions. Their training allows them to synthesize knowledge across studies, determine policy effects, interpret nuance, and understand implementation challenges" (https://www.housedems.ct.gov/legislation-collaborative-effort). SSN even runs a sanctimonious "Help Others To Vote" gig at UConn (https://voting.socialwork.uconn.edu/help-others-to-vote/), which sounds noble until you recall Connecticut’s voter fraud debacles and the state’s nonprofit messes. Does any legislator ever question the propriety, redundancy, and usefulness of these myriad nonprofit cash cows? Why would they? Because governance may mean that the well will run dry at the time of your next glad-hand and photo op and your time to throw taxpayer cash around.

 

Connecticut! Where if this seems bad, unbelievably, things even get worse. We saw the taxpayer-gouging masterpiece Senate Bill 1453, "An Act Concerning Emergency Nonprofit Assistance," rammed through the House on Wednesday March 5, with the sole purpose of bankrolling Democratic pet causes. In typical Connecticut fashion, the language is so vague you would think it was intentionally designed to dodge questions.  

The delusional and self-interested haul is divided up as follows:

 (1) 45.3 percent to nonprofits coddling the LGBTQ+ community.


(2) 26.7 percent to reproductive health care squads like Planned Parenthood.


(3) 22.1 percent to refugee and immigration assistance—because Connecticut is a sanctuary state.


(4) 2.1 percent to community and youth empowerment (whatever that means); and


(5) 3.8 percent skimmed by the Judicial Department for “administration, whatever “administration” may mean:

 

(https://fastdemocracy.com/bill-search/ct/2025/bills/CTB00032774/).

 

Connecticut! Where in the face of DOGE and citizens pleading for spending restraint and fiscal governance, Connecticut Democrats laugh in their faces, plowing ahead with an agenda that spits on citizens while showering special interests with cash. The League of Women Voters of Connecticut snagged $200,000 in 2019 from the Democracy Fund—part of a $650,000 handout to 25 groups—because nothing screams "democracy" like state-subsidized voter drives in a fraud-riddled state. Meanwhile, Integrated Refugee and Immigrant Services (IRIS) pocketed $150,000 that year via the Immigrant Integration Pilot Program, one slice of a $300,000 pie for immigrant “resettlement”. Add in the NAACP of Connecticut ($100,000) and Lutheran Refugee Services ($100,000), and you have gotten a cool $700,000 to $950,000 annually from 2019 to 2023 for these niche crusades—totaling $3.5 million to $4.75 million over five years. That is miniscule next to the $1.4 billion in annual state contracts propping up 500-700 nonprofits yearly, a gravy train so lavish it would make Frank Nitti and John Gotti blush. But this of course is Connecticut, where self-dealing, fraud, drunk driving (and drunk law making) legislators, hidden business in state nonprofits and gargantuan un-ascertainable deficits are just normal operating procedure in the land of all things Nutmeg. 
 
Meanwhile, Connecticut government continues its duplicitous and carpetbagging ways, ostensibly undeterred by a nation and a large part of the state that finds this conduct reprehensible. This will lead to a collision course. Either the continued crushing taxation and spending will drive the last of productive capacities out of state, or the impending cuts in Federal funding will cause a different type of destruction from within. Neither scenario bodes well for the once proud and now teetering governance-less State of Connecticut.

Saturday, February 08, 2025

Pay Up, Shut Up, And I Feed Off Of Your Tax Money. The Connecticut Democrat Gold Standard Of Governance And Accountability

This past week, the world stage was treated to the inane and frenetic babblings of Chris Murphy as he railed on about all things evil concerning President Donald J. Trump. For the world, Chris is the junior Democrat U.S. Senator from Connecticut. However, for the right-thinking and taxpaying people of Connecticut Chris is a manic jerk, being a child of privilege who never had to hold gainful and profit-making employment in his entire life. This is because his father’s law firm (Shipman and Goodwin) has a hand representing about every anti-homeowner, anti-parent and anti-taxpayer body in the state. Its nice work if you can get it, however Chris failed at this work and found his way into the lowest common denominator of employment, which is the political system.

Murphy has the policy and conceptual understanding of a flea. As he rails about “Trump favoring Billionaires and screwing the little guy” he does not tell you that he voted AGAINST a 20% tax deduction for small business people in 2017. He will also call Elon Musk an “illegal agent against government” not acknowledging that government hires contractors all of the time. Murphy’s conceptual tax and policy knowledge is summed up perfectly by the analysis of my friend and colleague Tony De Angelo, who often says “that Murphy knows as much about tax and fiscal policy, as I might, about building the Neutron Bomb.”

But you must give credit where credit is due. The Connecticut Demo-commie universe (unlike the State GOP) has a bench. It cultivates acolytes. It develops other similar personalities to Murphy that are high on glibness and empty headedness, bereft on governance, and short on substance. It then buys media to hammer to an unsuspecting public how wonderful these people are, and what great public servants they can be.

And the leading horse in this race for bigger and better things is the current Connecticut State Comptroller, Sean Scanlon.

By way of information, Sean Scanlon is a career politician whose salary is paid for by Connecticut Taxpayers. Like others in the horse race, he will seek higher office in the future in a jump ball with the other career Democrat politicians. He will be mentioned as a future Governor, U.S. Representative and or US Senator. He is currently the State Comptroller, however whenever we read about his fiscal acumen it is either a disaster such as the handling of his own office, (https://ctnewsjunkie.com/2025/01/08/auditors-comptrollers-office-lacked-internal-controls-for-insurance-payouts/) or an impending disaster such as the “refinancing” of the state short-term debt which, (while cheered by equally ignorant Republicans) displayed the fiscal sense of delaying debt that anyone making the minimum payment on a credit card knows is a horrific disaster to come.  By way of education and training, Scanlon shows no bona-fides in economics/accounting and finance with a degree in Political Science from Boston University, and his work for Chris Murphy in a variety of positions while being a Connecticut State Representative for eight years and miraculously becoming the Executive Director of Tweed-New Haven Airport for a short and very unpopular stint.  How all of this becomes functional for a Comptroller position that pays $206,062 plus benefits is beyond me and many others considering Scanlon is managing a $26 Billion dollar state budget. His job mission is "To provide accounting and financial services, to administer employee and retiree benefits, to develop accounting policy and exercise accounting oversight, and to prepare financial reports for state, federal and municipal governments and the public." (https://osc.ct.gov/about/). Thus, anyone in Connecticut, no matter their education or work experience can be a State Comptroller with Scanlon as an example, provided, they join the Democrat food chain and be manufactured according to the Chris Murphy Gold Standard of Failure.

Recently Scanlon in true Democrat Party form, condemned President Trump in his overhaul of the Federal government especially when it comes to aid. He stated on January 28, 2025; “President Trump’s reckless decision to abruptly freeze federal grants and loans will have immediate and disastrous consequences for Connecticut. As Comptroller, it’s my job to track what we get from Washington D.C. and how we spend it. In fiscal year 2024, more than $14.3 billion passed from the federal government through our state agencies directly to Connecticut residents, nonprofits, schools, and much, much more. While the exact list of impacted programs remains unclear, what is clear is this: any pause, however brief, of any federal funding will hurt people in Connecticut.” (https://osc.ct.gov/articles/comptroller-sean-scanlon-condemns-trump-administrations-reckless-suspension-of-federal-funding/). If I understand his quote correctly, this statement means that $14.3 billion dollars is either is a part of the state budget and/or is in addition to beggarly Connecticut's $22.1 billion dollar budget for 2024. Presuming Scanlon is fiscally coherent, I believe he should clarify his economically illogical and confusing remarks. Does he even have an idea as to where the money goes? He has apparently become an expert in accounting and finance. But a person with little to no experience in finance is bound to be confused in his stated remarks.

But one thing that the Democrat machine is quite good at is building personal financial dynasties at taxpayer expense. Scanlon is married to Meghan Scanlon, who has degrees in English and Political Science from the University of Connecticut and is the President and Chief Executive Officer of the “Connecticut Coalition Against Domestic Violence” which has 18 (Eighteen-count 'em) member domestic violence organizations that provide services to victims. “Connecticut Coalition Against Domestic Violence” is a "non-profit". The coalition serves around 40,000 individuals across the state. It receives federal and state aid along with donations. From the last public audit of 2023, Meghan Scanlon’s compensation was $126,676 plus other compensation. (https://projects.propublica.org/nonprofits/organizations/60985675). Further, there is a massive amount of money spent in Connecticut on domestic violence victims and issues. For 2024 according to opencheckbook.ct.gov,  the sum was $27.63 Million dollars in a wide array of grants. It seems alarming to me that this much money is being spent with apparently poor results since it seems that this type of violence is growing in the state.  Is there an issue in the state with actually enforcing the domestic violence laws currently on statute?  Are domestic violence criminals not being prosecuted? Obviously, I am not trying to make light of domestic violence however after throwing millions upon millions of dollars at it what is the net result? More domestic violence? Anyone with the least bit of reason knows that the continued high spending towards a situation that does not improve is a reinforcement of failure. Apparently, reason is a concept foreign to the Democrat-driven political system of Connecticut.

But the ostensible debacle above lends itself to questions of other failures taking place at Connecticut nonprofits. Cause IQ tells us the following: "There are 24,541 organizations in Connecticut. Combined, these Connecticut nonprofits employ 358,650 people, earn more than $57 billion in revenue each year, and have assets of $195 billion." (https://www.causeiq.com/directory/connecticut-state) In scanning the records,  I have always wondered why state-connected "non profit"Administrative salaries so high?   Why are salaries so high especially with many "non profits" having non-paid boards who help in these organizations? Why are the state-connected non-profit salaries so high when they hire highly paid accounting and legal firms with a strong connection to state government? When someone is appointed by a "non-profit" there seems to always be a glowing press release of the person and their qualifications that usually lead to the connection of a politician. But again, why are the salaries so high? And are the actual results of these "non profits" truly helping the people who need the help? Washington and Hartford spend billions of dollars in social welfare programs with ostensibly little to no result as many of those to whom fiduciary or oversight responsibility is granted are making out quite well. Why is this the case?


Saturday, February 01, 2025

Is There Anyone Out There Capable Of The Job Of Being The Governor Of Connecticut?

What does Connecticut need in a Governor? It should be a simple question, but you will have difficulty in answering it.   What would it take for a Republican to be Governor? Is there a person on the horizon that possesses the character, intelligence, vision, and perspective necessary to turn around the total downward spiral of the Nutmeg State?

Believe it or not, Connecticut at one time had a functioning two party system.  In addition, Republicans did hold the Governor's office many times in the state's history. It is even more unbelievable to recall that Connecticut used to be a Conservative working-class state with a great deal of business and industry. Do you want to travel even more over to the dark side? Connecticut used to have a huge and thriving Black middle class with many of these folks working and owning homes due to secure employment in the firearms industry, an industry that was legislated out of existence by “sensitive” Democrat politicians that by “doing social good” threw families into drugs, poverty, fatherlessness, and ruin.  And there were better higher-character people than today on both sides of the aisle. Democrat Ella Grasso, Connecticut first Female Governor, who served from 1975 to 1980, was a working person, common sense Governor for the state and was loved by many on both sides of the aisle for her no-nonsense approach to governing. And there were bad people on both sides as well. Governor Grasso inherited a $70 million dollar plus budget deficit from Republican Governor Thomas Meskill. When taking office, she immediately laid off over 500 state employees, gave back her pay raise of $7,000 and sold the state's limousine and plane to pay down the debt. (https://museumofcthistory.org/2015/08/ella-giovanna-oliva-tambussi-grasso/) Fast forward 50 years later, and we see that Connecticut's short- and long-term debt along with its unfunded liabilities is roughly $100 to $150 billion dollars as politicians on either side of the aisle avoid dealing with this grievous situation like the plague.

After Governor Grasso passed, Connecticut shifted to Governor William "Bill" O'Neil who presided over the boom years of the 80's and subsequently led the state into the recession of 1990 when Connecticut's economy started its 35-year march to economic stupefaction and oblivion. Rather than deal with the matter at hand, the Democrat Party started believing that taxes, spending, running deficits, and the fire hosing of money would cure all ills. Lowell Weicker, a liberal Republican who turned Independent lied his way to get elected. Weicker accelerated Connecticut's economic downturn with his ill-gotten cash grab of Connecticut's first Income Tax, thus starting Connecticut down a path of welfare-state status.

After Weicker, Republican John Rowland became the next Governor in a term with some hope and vision that was later marred by arrogance, bulbous spending, inattention to deficits, and petty scandals. He was succeeded by Connecticut's second Female Governor Jodi Rell in an unremarkable term ending in 2011 that was somewhat liberal in social areas and somewhat conservative in economic matters.

Since that time, the landscape has strayed from all manners of  reasonable conduct, governance and fiduciary responsibility. Since Rell, Connecticut has had two very irrationally liberal and free spending Democrat Governors in Dan Malloy and Ned Lamont. I have written about them at length over the years and I am confident my readers understand and feel the brunt of their economic consequences and actions. However rather than creating a bright line and hammering home critical and sound Republican principles, the Republicans decided to run two sporting and wealthy individuals during the past four elections in Thomas Foley and Bob Stefanowski. In both of their first runs for Governor, third-party candidates seeing a lack of principles in the Republican campaigns moved to run, thus losing elections that otherwise would have been won on better Republican principles and policy. And the second campaigns for each gentleman were far worse than the first. In my opinion, the second Stefanowski campaign was a testimony in the state GOP trying for a muddled and moderate approach to all, thus losing voters on all sides. Hopefully after 16 years the Republican Party now realizes that it needs to get away from the wealthy person as-candidate approach to Governor.

So what does the upcoming election look like for the Connecticut Republican Party in their quest to become a bright-line alternative to the incoherent gibberish and societal decay that is force fed to the public on a daily basis by the Omnipotent (and Incompetent) One Party Rule of the Connecticut Democrat Party?  Looking down the bench of potential GOP candidates to date  I am reminded of Inspector Reynaud in the 1943 film “Casablanca” calling for the “usual suspects” as at the same time I am reminded of the late industrialist and Presidential candidate Ross Perot bellowing that “those who claim to be a part of the solution after being comfortable in the problem are still a part of the problem”. Curiously, no aspirant to date has aggressively championed the good and decent Republican policies of Connecticut residents first, there are only two sexes; male and female, schools need to teach again not be tools of failed and sick ideologies, reforming the white-collar crime of state energy utilities and policy, removal of sanctuary state status and prosecuting deportations, diluting the stranglehold of public unions, non-profit money laundering and fraud, accountability for rogue elected officials and pilfering department heads (followed if necessary by criminal charges) , removing tampon dispensers in boys rooms, dealing with voter fraud, crime, theft, social unrest and gender madness, and dealing with the need for a real balanced budget along with a comprehensive and extensive plan to pay off Connecticut's short and long-term debt along with its unfunded liabilities.  

More egregiously no aspirant to date has breathed a word about rooting out the “Fourth Branch” of Connecticut government, being racketeering and corruption emanating all of the way from the throne room of King Governor Ned Lamont The Unaccountable to just about every branch of elected and administrative government 

This is just a start.
So, who will this next Republican candidate be? That much is uncertain. But what is dead-on certain is that the non-state connected decent taxpaying voter of Connecticut is now well-aware of all of the Elephants in the state living room and will no longer tolerate weak, want to be liked pitty-pat candidates that will once again lead to failure as their well-paid consultants dealing in the profits of failure get paid regardless. The person who runs as the Republican candidate for Governor whether they are male or female, rich or poor, politician or non-politician needs to articulate that Connecticut can do much better than the current affliction and dysfunctional garbage called state government. 

And as my friend and colleague Tony De Angelo often says, it is simple as that, and unfortunately, just as difficult.

 

 

Saturday, December 28, 2024

The Debtor Is The Slave To The Creditor, and The Creditor Is The Master Of The Debtor

 Debt is defined as the state of owing money. Debt for many has become a lifestyle. Although there are times in human life where incurring debt may be necessary, vast amounts of personal debt are incurred as the result of bad choices or purchases based on desire and not critical need. The Holy Scriptures tell us that debtors are slaves to their creditors and the creditor becomes the master of the debtor. And this is a terrible situation to be in.

If you do not believe that, just ask any debtor.

The American citizen understands there are several types of debt in our economy. We have consumer debt which can be broken down into various categories such mortgage debt, auto loan debt, credit card debt, higher education loan debt and personal loan and credit line debt. The figures for these types of debts astonish many. Here are some for you to ponder from the third quarter, 2024 (https://www.fool.com/money/research/average-household-debt/?referring_guid=9589b076-6540-4e22-a38f-3645b0110312&utm_campaign=article&utm_medium=feed&utm_source=nasdaq)

Total American Household debt is $17.943 trillion dollars.

Total American Credit Card debt is $1.166 trillion dollars.

Total American Mortgage debt is $12.594 trillion dollars.

Total American Auto Loan debt is $1.644 trillion dollars.

Total American Student Loan debt is $1.606 trillion dollars.

Household debt based as a percentage of disposable income as a debt payment-to-income ratio, from the second quarter of 2024, is 11.5%. Or in other words 11.5 cents of each dollar of disposable income goes to service debt. The other 88.5 cents of each dollar you clear is what you would have to pay all your other expenses.

One may think that a government, with all its collective wisdom, would be able to fund its operations without debt. Unfortunately, the opposite is true. Government at all levels, be it local, state, or national, is massively in debt. The Federal National Debt is $36.2 trillion dollars and rising. For 2024, the Federal Government will spend a mere $892 billion dollars to finance its National Debt. State governments such as Connecticut have $150 billion dollars in short- and long-term debt and unfunded liabilities that are never tackled or confronted by the superficial, feel-good “bi-partisan” political Uniparty, and this happens elsewhere, as well. If one were to add the total state debt of all fifty states, you are looking at $1.7 to $2 trillion dollars in debt depending on published figures and unfunded liabilities. Municipal Debt, which is funded by municipal bonds, is roughly $4 trillion dollars. (https://www.usdebtclock.org/)

If one were to add up Total American Household and Government Debt it is approximately $58 trillion dollars in total. Is there any plan to pay off the Government debt at all levels, local, state, and national? Not to my knowledge. In fact, the opposite is true. U.S. Senator Ron Paul released his annual “Festivus” report describing the horrific if not obscene wastes in left-inspired government spending. (https://san.com/media-miss/rand-pauls-annual-festivus-report-highlights-1-trillion-in-government-spending/) The Connecticut of King Governor Ned Lamont The Unaccountable pays no attention to fiscal wreckage and pilfering by state university officials and aides while anti-business capitol city Hartford is watching its tallest office building fall into foreclosure on the way to capitulating into subsidized low-income housing. (https://www.hartfordbusiness.com/article/hartfords-tallest-office-tower-faces-loan-delinquency)
  The iconic Chrysler Building in midtown Manhattan New York, one of the most historically desirable business locations in days gone by, is facing foreclosure in a rotting and violent New York City (https://www.curbed.com/article/aby-rosens-chrysler-building-saga-a-timeline.html).  Obviously some states and municipalities are in much better shape financially than others especially Democrat led and poorly governed states like Connecticut and New York where commercial taxpaying businesses leave so as not to continue to fund policies of woke nonsense, DEI programs, unchecked illegal immigration, high crime, and higher and higher taxes paid to the inept and illogical Blue State governments burning cash more quickly than their infrastructures and economies are deteriorating.  

But in review of this sordid and sick situation, one has to conclude that if debtors are slaves to creditors, Blue State Democrat politicians love to increase debt and redundancy while increasing the enslavement of citizens by tossing them fictional “bones” and freebies that the fewer remaining legitimate and taxpaying citizens must bear the burdens of paying via increased taxes and fees. The worst examples of this reckless and unregulated spending are in education and medicine, where the philosophy has been that more spending, redundant administration, and taxes will continually solve problems when all of this drives costs and debts to astronomical levels that are impossible for debtors to ever pay. However, in Connecticut and other Blue States, your Democrat politician such as The Unaccountable and his henchmen will create “medical debt forgiveness” causing such egregious debt to magically disappear overnight with a legally questionable program. In Connecticut, it is reported that 23,000 residents (citizenship optional) with have $30 million debt in debt wiped out! My good friend and colleague Tony De Angelo sharply questioned the legality of this program in detail which is apparently run by "Undue Medical Debt"  on his weekly segment on the Lee Elci show 94.9 (https://www.youtube.com/watch?v=NgdFNln9OI4) , (https://www.UndueMedicalDebt.org) , this being a strange charitable organization which has been by billionaires for bulbous contributions that can be channeled per its own website to various locales for the ostensible buying of votes and political influence.  This "loan forgiveness" program has several legal questions that need to be answered clearly and transparently for Taxpayers, but we know it will not be. Because, the Democrat Master is calling the shots! (You see? The Master increased your debt. The Master is now coming to relieve your debt with his signature on the debt forgiveness letter! To show your appreciation, always vote for The Master as he creates more bulbous debts to charitably relieve for others. Be advised, The Master, has spoken.).

Contrary to what our elected officials tell us, and credit companies tell us our current collective level of debt is not sustainable. It will be quite painful to see what economic damages consumers and governments will be dealing with in 2025, especially with the amount of interest that will be paid to finance $58 trillion dollars in debt. Where does this money come from? Just more and higher taxes on a government level? On a personal level the elimination of one meal a day and or homelessness or broken families or foreclosure? Perhaps our economy, especially our government, could learn to do much more with less and pay down this sickening economic albatross that strangles our economic system for generations to come.  Then again maybe they could care less about it since political power means economic power in our not so brave new world as more slaves are created for their avaricious and corrupt masters.

Happy New Year.

Saturday, November 30, 2024

Connecticut 236 Years Later. The Long Road to Fiscal and Social Disaster

The time of Disaster has finally come, being long in the making. The bell now tolls for Connecticut, being the fifth state in our country since 1788. Ironically bearing the moniker of "The Constitution State," Connecticut seems to be gasping its' last breaths of its 236-year existence. 

The trip along the highway to disaster accelerated since the advent of the "cure-all" Utopian State Income Tax that was passed in 1991. Since that time, the state budget has increased from $7.9 billion dollars in 1991 to over $26 billion dollars in 2024. That is an increase of over 270%, far exceeding the rate of inflation. But has there been a great influx of new residents over thirty-five years? Hardly not. Connecticut's population has increased in the same period since 1991 by only 300,000 people from 3.2 million to 3.6 million in 2024. This is a 12% increase in 33 years, being far below the population increase in our country. So, using pure simple mathematics, there is no “population boom” nor teeming attraction for people to move into Connecticut. This realization is truly sickening, especially after the lies the Democrats and state-run media sources have fed to us to the contrary.

But that is just one symptom of the trip on the road to ruin. What was the cause? In recent history, we can start with Connecticut's Governor in 1991. The Governor was the liberal Republican turned Independent multi-millionaire Lowell Weicker, who was hailed at the time of enactment of the state income tax as saving the state from bankruptcy and cuts from essential services in the state. When looking back at some of the articles written during this debate, we heard that children would be starving, the homeless would have no place to go, and drug addicts would no longer be cared for if we did not enact the tax. The elderly would also become homeless with little to no social welfare programs for them, and anyone else would be in grave difficulty especially those most in need. Pedestrians would be shot and killed. Drug addicts would roam, rob, and pillage the streets! Women would be raped! Roads and bridges would be collapsing! Kids would come out of school stupid with no marketable skills whatsoever! Of course, these were all classic Connecticut Democrat Party talking points which have now turned into realities in Democrat Connecticut and are more solid realities after 35 years of separating Connecticut from their wallets and purses via tax money.

But on the road to the fiscal disaster Connecticut has a pattern of repeating its greatest hits. In 2024, Connecticut's Governor is the liberal Democrat vapid multi-millionaire King Ned Lamont, "The Unaccountable" who has helped to nurture massive increases in state spending, profited personally through questionable, unethical business dealings with no-bid state contracts going to firms such as Sema4  that were heavily invested in his wife's hedge fund Oak HC/FT, and has veto proof power in the State Legislature with an omnipotent one-party Democrat ruled majority.  As my friend and colleague Tony De Angelo pointed out this past week, SEC documents show that the Lamont-related interests made upwards of $77,000,000 in one day at the Sema4 public offering to a chorus of silence from anyone in the political sphere or corporate state-run media interests. But that egregious rape of ethics pales in comparison to the fact that any piece of liberal, socialist, or communist legislation can be rammed through and signed with ease by Lamont over the next two years. But what about that thing called Ethics? It is common knowledge that the Connecticut State Ethics Department could not find an elephant in the snow, and this has been made much more clear since the Lamont-related pillagings. The time for disaster has arrived for a true dictatorship and treasury leveraging never seen before anywhere in 236 years.

But despite the incredibly obscene and bulbous amounts of tax money collected by Connecticut over thirty-five years, it is ironic that in 2024 we see the same issues that the state prophesied in 1991. Children are not being cared for except for things such as gender change. There is still a homeless crisis. There is a massive illegal drug crisis. There is now massive crime and theft in the state. There are still massive infrastructure problems with constant road and bridge repair needed. Yet the state budget increased by over 270% with the state income tax. And Connecticut has $125 to $150 Billion dollars in short- and long-term debt along with unfunded liabilities that just never get mentioned, as the prevailing ideology is that saving the “fiscal guardrails” will save us all. Regrettably, nothing can be farther from the truth. As one cause, it is rarely discussed in 2024 that the bulk of the state's spending goes to state employee salaries, benefits, and pensions along with interest on the state debt. There is little to spend elsewhere. Read the state budget for this economic reality for yourself (https://portal.ct.gov/opm/bud-budgets/2024-2025-biennial-budget/fy-2024-2025-biennial-budget).

Connecticut’s 236-year road to disaster accelerated into the freeway fast lane since 1991. Since that time, the state has evolved into a cesspool of political nepotism, crime, serial incompetence, debt, and incoherent socialistic gibberish. Connecticut's state government caters to the well-connected and has little impetus to make life easier for those who are the indentured servants, the Connecticut Taxpayers who must fund this economic debacle. Could you run a company and earn a profit if the bulk of your business’s funds just paid for salaries, benefits, pensions, and debt service benefiting the old cronies on the top floor? But Connecticut's Democrat Party has no problem doing this. Why? How does it benefit Connecticut Taxpayers? In what way? Can anyone explain that to Connecticut Taxpayers?

Thus, Connecticut slogs along with high state taxes, high property taxes, high state debt, high homelessness, high crime, excessively high electric rates, high cost of living, massive unfunded liabilities, massive illegal drug problems, massive infrastructure problems and more.  It is not what our founders envisioned in 1788. Personal and economic freedoms should be flourishing in a state like Connecticut. Instead look forward to two more dismal years economically and socially in "The Constitution State" a state that its political class feel is theirs and theirs only. Citizen once again, be damned.

Saturday, November 23, 2024

We’re Number 50! - The Democrat Victory Of Making Connecticut The Most Financially Troubled State In The Union

There seems to be no limit to the gutters that Connecticut continually falls into. Rampant corruption. Condoned (if not coddled) illegal immigration. Free tuition and healthcare for these same illegals. State senators destroy public property without a demand for prosecution from either political party. Other legislators drive drunk, flip cars and/or abuse substances, even while making laws. However, if that is not wretched enough for you, there is worse news for Connecticut Taxpayers. The State of Connecticut is pretty much broke. Yes, you read that correctly. Broke. Tapped out. Busted. On the Breadline.

Again, I repeat: The State of Connecticut is pretty much broke.

How has this happened, do you ask? Easy. It has been the usual “what, me worry?” posture in the land of Nutmeg for any semblance of fiscal governance. The election that took place a few weeks ago rewarded the fiscally illiterate Connecticut Democrat Party even more power for their inept fiscal mismanagement of the state. But how can this be possible in light of easy to find public sources? A recent “2024 Financial State of the States Report” (“report”) issued by the Daniels College of Business at the University of Denver, ranked Connecticut at the complete bottom of their report at #50 out of 50 states giving the state a "F" for their finances based on 2023 results. The report which I urge all to read can be found at https://www.truthinaccounting.org/library/doclib/Financial-State-of-the-States-2024.pdf.
To make a dire situation even worse, Connecticut is ranked at the bottom of all "Sinkhole" states. This reference to a “Sinkhole" means that all state taxpayers will owe a certain dollar amount to pay off the state's debt. The state does not have enough revenue and assets to pay its bills. For Connecticut it is a mere $44,300 each person (p.17 report). I have written for many years the issues of Connecticut's short- and long-term debt along with its unfunded liabilities at being $100 to $150 billion dollars, an astronomical amount for the state as small as Connecticut, only for me to be continually derided by many feel-good politicians. However, to show how deluded these politicians are, the report clearly breaks out the following grave issues concerning Connecticut: Unfunded Pension Benefits: $38,010,340,000. Unfunded Retiree Health Care Benefits: $17,091,549,000 (p.51 report). The mind-numbing figure of $64,897,085,000 is the actual debt that the state reports from its fiscal report, however over the years several budget items were taken off budget and as such are not counted towards this figure (p.51 report). That to me is called creative (if not fraudulent) accounting. It also may be noted that the "Government Finance Officers Association (“GFOA”), the standard for states to publish their annual reports is 180 days after the end of the fiscal year." (p.28 report) Connecticut took 271 days to file their report thus disregarding the GFOA guidelines that they are supposed to adhere to by law. But hey, it's Connecticut, where rules and laws do not matter anymore, if at all).

Unfortunately, the lack of fiscal acuity on the part of the Republican party has not provided any moments of consideration or pause over time thus making a bad situation even worse. As just one example, in this past election I heard no candidate on either side discussing the grievous state debt or this report. And this fiscally negligent attitude has gone on for years. For example, in 2023, Democrat State Comptroller (and fiscal genius) Sean Scanlon magically “saved millions of dollars” by re-amortizing the unfunded liability of the municipal pension fund from 17 to 25 years as both political parties cheered. But what did Mr. Scanlon do? He simply increased the amount of debt by deferring payment on the same, showing no conceptual understanding of present-value finance and the concept that a dollar will never be worth any more than it is today in the future. For, how does one save money when your debt is the same but now will take an additional eight years to pay off as it continues to accrue interest? Isn't the debt financed by interest paid? Or has that mysteriously been eliminated? How is this simply thoughtless move any different than continually making the minimum payment on your credit card and believing your debt will be paid off faster? But perhaps I am wrong, and Mr. Scanlon has the right idea! That said, why don’t we go about re-amortizing all of Connecticut's debt into 100-year notes? That way generation upon generation of Connecticut Taxpayers get to live their lives as indentured servants to the Connecticut Democrat Party and their fiscal inefficiencies and maladroitness. This idea might work so well that the Connecticut Democrat Party could then reinvent a modern-day system of serfdom and or a new form of economic slavery to the state's master political ruling elite by the issuing of these 100-year debt bonds. This new financial plan would work well with the party that wants unchecked illegal immigration, state-run media, controls on social media and free speech, redundant and functionally useless bureaucracies, and the encouragement of party “leaders” that harass and shame ordinary citizens while the opposing party never cries out for the censure or removal of these evil individuals. This is life as we know it in the nearly broke, vision-less, and morally bankrupt State of Connecticut.

Thus in 2024, Connecticut is no more resolving its debt crisis than in years passed. Thus in 2024, no one wearing a political uniform seems to care. This new report issued reconfirms many of the same problems that the state has had for years. Excessive state spending coupled with excessive state debt, fueled by “feel-good” politics at every turn. Connecticut continues to rank as a top five taxed state in the country. It continues to have massive financial issues no matter how King Governor Ned Lamont the Unaccountable, his should-be-abolished Department of Economic Development, and his faux-prop economic spokespeople such as Sean Scanlon try to spin it. For Connecticut to survive it must address its out-of-control spending and unchecked fiscal corruption that offer little in either comfort or results other than to those directly involved. Connecticut has massive problems with criminals and crime is running rampant. Connecticut has massive problems with illegal drug use and trafficking. Connecticut still has massive problems with its public schools that are more interested in indoctrination rather than teaching life skills and functional knowledge. Connecticut still has massive problems due to a skewed political system that is ripe with corruption as seen with the never-ending voter fraud in Bridgeport. Connecticut fiscal economic incentives are nothing more than the throwing of bribes to the politically connected. Moreover, Connecticut still has massive problems that truly need to be addressed for the last time.
But not the least of sorrows is that albatross of never-ending debt hanging on the shoulders of innocent Connecticut Taxpayers who toil daily in a dysfunctional state economy while the Connecticut Democrat Party moves blindly ahead without even the least criticism of this debt. But the solutions are simple. Cut spending and cut taxes. Learn the spelling of the word "governance" But that concept is always ignored in the wasteland of debt, in the state known as Connecticut, which is the paradise of unchecked and enabled Democrat Party led economic gibberish leading to ultimate collapse.



Saturday, May 18, 2024

Deja Vu All Over Again. Part 3. A Taxpayer Never Gets a Break in The Land of Steady Habits


Connecticut is a state known by many names. The Nutmeg State. The Gateway to New England. The Constitution State. But perhaps the most apt name for Connecticut over the past few decades is the Land of Steady Habits. This name is incredibly apt and deserved as the steadiest of habits for Connecticut has been its insatiable desire to tax, to spend, and to add to its bulbous and inept Administrative State in grotesque proportions. Again, Taxpayer be damned.
Week in and week out and year and year out, Connecticut Taxpayers do not get a break from paying excessive, new, and higher taxes coupled with the daily fear of crime and having their vehicles broken into and or stolen. The Legislative session of 2024 arrogantly signaled to Connecticut Taxpayers that there will be no respite from paying excessive, new and higher taxes any time soon, and no respite from living with the daily fear of crime and/or having their vehicles broken into and or stolen. Rather, Connecticut Taxpayers received more of the same in review of just some of the brutal bills that will end up costing Connecticut Taxpayers more in taxes and the costs of goods and services they must purchase, thanks to the arrogant Connecticut Democrat Party.
As discussed last week, the horrific HB 5431 "AN ACT ESTABLISHING THE STABILIZATION SUPPORT AND ARPA REPLACEMENT FUND" did indeed pass. Unbelievably, it does mandate for Connecticut Taxpayers to pay for unemployment benefits for striking workers. Why did this pass? Why has the definition of being unemployed changed? Further, why does the burden in the Land of Steady Habits never shift from off the backs of the private sector and small business?
But unfortunately, the oppression does not stop there. These same beleaguered small businesses will now see increased costs from HB 5005 "AN ACT STUDYING PAID SICK DAYS" that expands the types of employees that receive annual paid sick leave. It will also gratuitously expand the definition of “family members” for family leave purposes. This Act will also increase the rate at which leave accrues and broaden the diverse ways leave days can be used. These changes will of course cause an increase in the costs of operating a business which will only be passed on to consumers in the form of higher costs for goods and services. Again, why is there yet one other job-killing business-hostile policy lifted on to the backs of tired and poor taxpayers and small businesses? Yet one is supposed to believe that this Democrat Party-driven policy is a great benefit and blessing to the masses, and the shrinking coffers of the private sector can be damned.
Of course, in Connecticut’s Land of Steady Habits there are never (ever) any proposals from the legislature to lower taxes, cut, cap and end pensions, eliminate "quasi-public" organizations, or to otherwise shrink and streamline the Connecticut Administrative State. But predictably, we see the opposite. As a matter of social justice and right, several bills were brought forth demanding new and higher taxes and or increases in capital gains. After all, this is the Land of Steady Habits! It is the habitual hissing and popping of a broken record, repeating and repeating the same old refrain. More of what we have heard about for the past 34 years. More money will solve all of Connecticut's social ills (like crime), more money is needed for failing schools, more money is needed for underpaid Connecticut state unionized employees, more money is needed for the big, dangerous and corrupt cities such as Bridgeport and New Haven. The list is always endless, and the results are always horrific since nothing is ever mentioned in the state-run media about The Land of Steady Habits having $100 to $150 billion dollars in short- and long-term debt along with a myriad of unfunded liabilities.
What do Connecticut Taxpayers really get for a $26 billion dollar plus yearly budget? What do Connecticut Taxpayers really receive for over $100 to $150 billion dollars in short- and long-term debt along with unfunded liabilities? Connecticut can't declare bankruptcy. It should, given its current insolvent economic state that has grown worse since the establishment of the Utopian cure-all state income tax. No matter how much your income is, you will never pay enough in taxes. No matter how much your taxes increase they will never keep up with the massive social ills, waste, and the increasing and crony driven Administrative State in The Land of Steady Habits that just keeps getting bigger and bigger year-in and year-out.
Taxpayers never get a break in Connecticut, but rather will be broken. The Democrat Party of The Land of Steady Habits will make sure of that forever.