April 25, 2012

Carpino: State Taxes the Highest In Nation Latest “Tax-Freedom Day” of any U.S. State

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HARTFORD—As Connecticut residents finished submitting their federal and state taxes on April 17th, State Rep. Christie Carpino said if taxpayers felt an extra hand in their wallets this year it should be no wonder – the State of Connecticut now has the distinction of having the highest tax burden per capita of any state in the nation.

“When the legislature forced through a $1.8 billion tax increase including a retro-active income tax on Connecticut residents last year, coupled with nearly $1 billion in new spending, one could have predicted this as the natural result,” said Rep. Carpino. “This administration has taken our state in the opposite direction of all other states in the U.S. by increasing taxes and making government bigger while others cut taxes and streamline government. Because of these policies, Connecticut residents are paying more than ever. It’s sobering to realize as we pay last year’s tax bill we haven’t yet worked long enough this year to pay the next time around.”

According to the Tax Foundation and their calculated figures for this year which show that Connecticut has the latest Tax Freedom Day®, or the day of the year when state residents on average have earned enough money during the year to pay their combined state, federal and local taxes, and begin to keep what they earn. Connecticut’s Tax Freedom Day® has been calculated as May 5th this year, later than all other states.

When you figure in the state’s poor business climate with businesses closing up shop every day, the situation is much worse said Carpino. According to the Tax Foundation, Connecticut ranked 40th among all states in having a business friendly tax climate.

“While it is hard enough on taxpayers to pay more and more taxes while significant numbers of state residents remain out of work or underemployed, it is compounded by the fact that the punishing climate this state has created for business is seriously slowing the state’s economic recovery,” said Rep. Carpino.

“I meet regularly with business owners, new and old, in the district. Oftentimes, the first question is, when will Hartford stop taxing us to death? I could not agree more. It’s time to reverse the backward tax policies of Connecticut,” said Carpino.

The Tax Foundation is a nonpartisan educational organization which exists to give taxpayers information about sound tax policy. They can be found at www.taxfoundation.org.