Wednesday, February 3, 2010

Wednesday Round-up

1. Interesting article by Joe Dinkin, communications director for CT Working Families:
....Some claim that Connecticut is already a high-tax state. It sounds plausible since we all feel we're taxed too much, especially the middle class. But here's Connecticut's best-kept secret: for the truly rich, Connecticut is really a low-tax haven. Our top tax rate is lower than most surrounding states. It's even lower than many supposed low-tax states, like Arkansas, Idaho, Montana, Nebraska and South Carolina.

And here's another idea that is sure to provoke some powerful enemies: closing corporate tax loopholes. More than 20 other states already require combined reporting for corporations, which makes it harder for multi-state businesses to play a shell game with revenues and avoid paying taxes in Connecticut.

Granting tax breaks to any business with the lobbying juice to get one hasn't worked out well for Connecticut so far. Since 1987, corporate tax breaks have increased from just under $3 million in our state budget to over $300 million -- a 100-fold increase. But this astonishing growth in corporate tax breaks hasn't translated into more jobs...

In Oregon last week, propositions 66 and 67 passed overwhelmingly, raising taxes on the rich and on large corporations. Oregon already had a much more progressive tax structure than Connecticut, with no sales tax and low property taxes, but a high and highly progressive income tax. And by margins larger than Scott Brown's win in Massachusetts, Oregonians voted to make their income tax substantially more progressive.

2. Lobbyists: $38.6 Million Spent on Lobbying in 2009

3. Ct Bob: Simmons wets his pants! (metaphorically speaking)

4. Dem’s In Hartford Have A Plan For Economic Growth

5. CaptCt over at My Left Nutmeg is expressing progressive dissatisfaction with Democratic institutions.

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