[CT_Native]

Interesting to note CT patronizes a few stores owned by Sears so-much-so to make them profitable still (maybe this assumption is false). The Kmart in Milford is closing in November but the following stores remain operational:

Sears locations: Danbury, Manchester, Milford, Waterbury, Meriden, and Waterford.
Kmart locations: Vernon and Watertown.

https://www.marketwatch.com/story/th...eek-2018-08-23

[BobNJ1960]

Originally Posted by CT_Native

Interesting to note CT patronizes a few stores owned by Sears so-much-so to make them profitable still (maybe this assumption is false). The Kmart in Milford is closing in November but the following stores remain operational:

Sears locations: Danbury, Manchester, Milford, Waterbury, Meriden, and Waterford.
Kmart locations: Vernon and Watertown.

https://www.marketwatch.com/story/th...eek-2018-08-23

The chain will keep cutting until they are gone.

Its just a matter of when, not if.

Suppliers often require down payments with this albatross.

[Stepfordct]

Originally Posted by CT_Native

Interesting to note CT patronizes a few stores owned by Sears so-much-so to make them profitable still (maybe this assumption is false). The Kmart in Milford is closing in November but the following stores remain operational:

Sears locations: Danbury, Manchester, Milford, Waterbury, Meriden, and Waterford.
Kmart locations: Vernon and Watertown.

https://www.marketwatch.com/story/th...eek-2018-08-23

More variables than the public is aware of. Lease issues being a big one.

[East of the River]

Originally Posted by Stepfordct

More variables than the public is aware of. Lease issues being a big one.

Sears owns alot of real estate I gather they are closing ones they can lease or sell the property easily. As well as looking at per store profit.

[robr2]

Originally Posted by East of the River

Sears owns alot of real estate I gather they are closing ones they can lease or sell the property easily. As well as looking at per store profit.

The real estate portion of Sears Holdings was spun out into a company called Seritage. It gets only about 35% of it's revenue from Sears and K-Mart stores deriving the rest from renting the space to others.

[RunD1987]

Do you think down the road say 8 to 10 years of CT can make the strides needed to reduce debt that they could slowly lower sales tax and eventually eliminate it.

Think not having sales tax would be a blessing for CT residents and increase revenue for local businesses in CT.

[JayCT]

Originally Posted by RunD1987

Do you think down the road say 8 to 10 years of CT can make the strides needed to reduce debt that they could slowly lower sales tax and eventually eliminate it.

Think not having sales tax would be a blessing for CT residents and increase revenue for local businesses in CT.

I think Connecticut can get its debt problems under control BUT I doubt that tax rates can/will be reduced all that much. Jay

[GeoffD]

Originally Posted by JayCT

I think Connecticut can get its debt problems under control BUT I doubt that tax rates can/will be reduced all that much. Jay

How do you pay down the debt and unfunded pension liability the state already has without raising taxes? The two big budget items are Medicaid and K-12 school funding in the poor cities. Like any other blue state, more than half the state budget is social spending on the bottom 15%. Do you kick grandma out of the nursing home because Medicaid stops funding it like in Louisiana did a couple of months ago? Do you just throw in the towel on urban school systems? I don't see how you get the debt problem under control without making some very difficult choices.

[MrGompers]

Originally Posted by RunD1987

Do you think down the road say 8 to 10 years of CT can make the strides needed to reduce debt that they could slowly lower sales tax and eventually eliminate it.

Think not having sales tax would be a blessing for CT residents and increase revenue for local businesses in CT.

State still needs money to operate regardless of debt load. If you eliminate one revenue source like sales tax another source needs to take its place or another tax needs to be raised. A lot of the rhetoric we read about taxes in this CT forum and other city data forums is basically "Libertarianism" splashed with a side of freedom. Lower taxes equals more freedom in their minds.



If Stefanowski thinks he can eliminate 50% of the state budget by eliminating the income tax he's nuttier than a fruitcake. I would love to see him try. I;ll be fine regardless but I don't want to see other people hurt by a budget reduction like that. Not everyone can fight back.


On the bright side we'll have more freedom ?

[JayCT]

Originally Posted by GeoffD

How do you pay down the debt and unfunded pension liability the state already has without raising taxes? The two big budget items are Medicaid and K-12 school funding in the poor cities. Like any other blue state, more than half the state budget is social spending on the bottom 15%. Do you kick grandma out of the nursing home because Medicaid stops funding it like in Louisiana did a couple of months ago? Do you just throw in the towel on urban school systems? I don't see how you get the debt problem under control without making some very difficult choices.

I did not say it was easy and you are right there are some very difficult decisions that have to be made. Will see. Jay