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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
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 loves 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 that 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 business.ct.gov:
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:
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.
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." 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! 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.”
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. The state is drastically over-taxed and still ranks as a "Top Five" state in high taxes. It 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.
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.
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