On Monday January 8, 2024, Governor Ned Lamont switched into full campaign gear in order to offset the economic and social nightmare that Connecticut has become under his non-transparent and profitable tenure in office. In shifting into this gear, King Ned the Unaccountable wrote a fantasy tale of what Connecticut has become under his iron fisted omnipotent one-party Democrat rule. The article can be found here.
The letter is fascinating to me as the Governor, who last recorded an income from 2021 of $54 million dollars of unknown sources, writes that, "Republican orthodoxy says our migration is all about taxes. We recently enacted the largest tax cut in state history, eliminating the income tax for most working families and taxes on pensions for most seniors. Democratic orthodoxy argues that families are moving to Connecticut because we are a family friendly state, with paid-family leave, expanded daycare and one of the country's best education systems." It is confusing as to how Connecticut is a "family friendly state, with paid-family leave". The Governor does not explain to the reader that the "paid-family leave" is engendered by a tax upon income for non-municipal workers in the state. The tax is levied at 0.05% of personal income up to $160,200 a year for a maximum of $801 in taxes one must pay to support this program. If you never use this program, you will get zero back from it. Simple high school math (which is out of the range of most local politicians) indicates that the fund cannot sustain itself due to the payout benefits it offers. Therefore, it is inevitable to assume that this tax will increase in the near future. Budgeting, payouts, and revenue for this program seemed locked in constant secrecy but that is normal for Connecticut state programs. It is ironic to note that those who have massive levels of income at the income levels of the Governor only pay $801 a year while an individual who actually works and earns $160,200 or less, pays the same amount for this tax as a high-income earner would.
Connecticut also has had a net migration of people moving out of the state and is ranked by U-Haul as the #42nd state that people are moving to. I guess being ranked in the bottom ten states that people are moving to is viewed as a great accomplishment by the Lamont-run Democrat Party of Connecticut and somehow inexplicably shows families are "moving into" the state by moving out.
Lamont states also; "For most of our citizens, our income tax is lower than the Sunbelt states. In Connecticut, we have reversed the budget deficits and trends of the past, in part due to the new families and higher-income taxpayers who now call Connecticut home." Lamont seems to be either confused or duplicitous as Connecticut is still burdened by $125 to $150 billion dollars in short- and long-term debt along with unfunded liabilities. There is no plan whatsoever to pay down this debt, nor does one know supposedly how much these "higher-income taxpayers" are paying in taxes to pay down this $125 to $150 billion dollar in short- and long-term debt along with unfunded liabilities. The taxfoundation.org ranks Connecticut 47th out of 50 states on their 2024 State Business Tax Climate Index. Connecticut is the 4th-worst state in the nation for taxes. Simply put, Connecticut continues to be a bottom feeder in most business and economic categories. I do not see new businesses and industry are flocking to the state unless they have some sort of economic tie to the Lamont's family hedge fund Oak HC/FT. Of course, Connecticut Taxpayers still have no clear answers to many questionable investments and arrangements tied to Lamont through Sema-4, Digital Currency Group, and its affiliates, ADVANCECT, 4-CT, Boston Consulting Group, UNITE US, Mt. Sinai Genomics, “The Horsebarn Hill Investment Fund”, Tidal River Fund, McKinsey, and the Lamont-based Cayman Islands shell companies. Needless to say, it is quite curious as to why Lamont did not mention these connections in his letter.
The fables in the letter continue with Lamont on the environment: "On the regulatory front, I won’t apologize for Connecticut enforcing environmental standards to better protect our air and water, but we’re also making the regulatory review and approval processes more efficient." Lamont fails to state that he is a driving force along with unelected and irrational highly-paid bureaucrats in following California environmental laws to eliminate all gasoline powered vehicles by 2035 forcing people into electric vehicles, nor did he mention how the Saudi Public Investment Fund (an investor of his family’s hedge fund Oak HC/FT) is a major producer and player in the e-car space. I wonder if people moving into the state know this. Further, Lamont travels around the state in a large fossil-fuel vehicle with several state paid attendants in tow. (I wonder as to how many new residents know this fact, as well).
Personal hypocrisies notwithstanding, Lamont and his Democrat Party also wish to eliminate most fossil fuels relying upon nothing in particular in order to generate electricity and heating/cooling sources in the future. If the state regime wishes to protect our air and water, why is there a massive push to complete the hopelessly corrupted marine life-killing New London State Pier project of "clean" wind turbines at a cost of nearly $400 million Taxpayer funded dollars featuring cost overruns of roughly 330% from initial cost estimates? What politically connected individuals made a profit off this economic debacle?
In addition, why has the state commandeered local zoning and the building of apartments and housing, thereby eliminating a system that has worked well for years? As is standard for The Unaccountable, his Wall Street Journal letter is economically incoherent and illogical especially while his political operatives push to gain the upper hand in this battle by taking away local zoning laws and regulations from towns and cities and placing them directly in the hands of these same sycophants and operatives. He stated; "As for housing costs, our state gets an incomplete. We have a shortage of housing supply, and more people are trying to move into our state, driving up prices. We are working aggressively to speed up the zoning process and double the state’s investment in housing. We are building multifamily homes in our cities. Parking lots and old commercial buildings will be transformed into livable communities that are a short walk to a train station, park or great restaurants." Sadly, Connecticut residents endure this nonsensical “housing shortage” blather continually, in a state where being a landlord has been made into hell by a shortsighted and incompetent legislature, and a state with decaying cities ranked #42 by the U-Haul hard dollar indicator of net outmigration from the states and fourth worst in national tax policies.
If you are thinking of moving to Connecticut please think twice. The Utopia described by Lamont is much different than the harsh social and economic reality of a state that is in a constant state of economic and social decline and danger. Crime runs rampant in the state, yet we hear little about that since it does not affect the Governor and his ruling elite. We are somehow led to believe that it is "Crime Free Democrat Connecticut" even though the opposite is true especially with car thefts. Since the beginning of the Lamont Administration to today the Lamont ruled Democrat Party places their profits over people especially over Connecticut Taxpayers. I simply puzzle as to how the fine publication known as The Wall Street Journal simply repeated the pap and blatant falsehoods espoused by His Royal Con-Man King Ned Lamont the Unaccountable without any due diligence as to the veracity of his statements.
If you are considering a move, it would behoove you to move to one of those terrible Republican states that actually have a strong business climate, lower taxes, less crime, and a better way of life for you and your family. Sad to say, this is not Connecticut by any means.