Connecticut Residents Still Have the Heaviest Tax Burden in the United States
… and it’s Getting Worse.
According to the Tax Foundation, a non-partisan tax research group, Connecticut continues to have the latest “Tax Freedom Day” of any state in the nation. Tax Freedom Day is the day each year when the average citizen has made enough money to pay their combined local, state and federal tax bills.
With the highest tax burden per capita of any state in the nation, it’s no wonder our Tax Freedom Day comes later than any other state: May 21. That’s eight days later than last year.
We have the highest per capita taxes in the country and, unfortunately, the coming 3 budget years are projected to get worse, thanks to the tax, spend and borrow policies of legislative Democrats in Hartford. As the majority party, these elected officials can’t get enough of your money. Their spending addiction has our state in a perpetual fiscal crisis, facing a growing $930 million budget deficit in FY 17 and a $4.5 billion deficit in the FY 18/FY 19 budget years. Enough!
You need to know two things:
- I have voted “NO” to each and every one of their tax increases, including $1.3 billion in new taxes imposed on us last June, the reason our “Tax Freedom Day” moved from May 9 in 2015 to May 21 in 2016 and;
- When you combine their propensity for spending beyond our means and the current reality of having state finances so far out of balance, I predict, if left holding their legislative majority after the November election, the next move in the Democrats’ playbook will be another back-breaking tax increase.
Our state government must be re-structured to be smaller, more efficient, less burdensome and sustainable. Now. Our current fiscal outlook for 2017, 2018 & 2019 is looking bad and arguably, near insolvency. But taxing is a poison pill. We’ve seen the results of handling our fiscal problems by raising taxes. People, employers and good jobs leave. Tax revenues fall when mobile high wage earners and employers move away. In my view, we’ve already pushed the first couple of tipping points with the two recent, record tax increases. States with more favorable tax environments lick their chops with each subsequent Connecticut tax increase.
I ask you: Did you ever think you’d see the day when a company like GE would move its HQ from the Nutmeg State for a place we used to call “Taxachussetts”? Enough!
Every day I serve you in Hartford, I fight for you and to restore discipline, accountability and common sense to state government.