While April 15 is known as Tax Day, Connecticut residents will need to keep working for another month just to pay off their total tax bill.
In fact, Connecticut residents are the last of any state in the country to pay off tax obligations, when combining federal, state and local tax bills.
According to the Yankee Institute, a taxpayer watchdog group, this pattern is bound to drive hard-working Connecticut residents out of the state and further harm Connecticut residents who remain in the state.
This is of particular concern as state lawmakers deliberate over a budget that would increase state obligations to the tune of $500 million and raise taxes on hard-working Connecticut residents in the process.
‘Again clamoring for more’
“Our state and local tax collections per person are among the highest in the country,” said Carol Platt Liebau, president of the Yankee Institute.
“And, just four years after the biggest tax increase in state history, the politicians in Hartford are again clamoring for more of our money,” Liebau said.
According to the Yankee Institute, there is a fundamental disconnect between many state leaders’ desire to create a prosperous Connecticut and the tax and budgetary policies they put into effect.
“Whether it’s raising individual tax rates or punishing employers who are trying to create accessible jobs for Connecticut, politicians don’t seem to understand that higher taxes just drive high-earners and job-providers from our state,” she said. “When they go, they take jobs and money — and opportunity — with them.”
‘Irresponsible spending and taxation’
The Yankee Institute works to give voice to millions of Connecticut residents who are saying no to runaway spending and runaway tax increases.
The organization has a campaign, Balanced Connecticut (www.BalancedConnecticut.org), designed to end a continuing era of irresponsible spending and taxation.
“Only when we give voice to the millions of Connecticut residents who are concerned about our current trajectory can we get our state back on track,” Liebau said.
Zachary Janowski works for the Hartford-based Yankee Institute (www.yankeeinstitute.org). He can be contacted at email@example.com and 860-384-5777.