Wednesday, October 27, 2010

Connecticut’s Race To The Bottom

The nonpartisan Tax Foundation has issued a report showing that New York fell from 49th to 50th last year among states that have the worst tax climate in the Nation.

The same report shows Connecticut falling from 38th to 47th, third from the bottom, “because of a new ‘millionaire's bracket’, according to the report.”

Mesmerized by a $3 billion deficit, the Democratic dominated legislature last session affixed the new “millionaire’s bracket” to its income tax, sending Connecticut, relative to other states, into free fall, assuring further flight of businesses and recent graduates to more promising states such as South Dakota, ranked best at number one in the Tax Foundation report, and Alaska, ranked number two.

Zach Janowski of the Yankee Institute turned out a good report on Connecticut's fall from grace.

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