[RunD1987]

Originally Posted by Raider111

Another doozy. So tax people who rent just for being renters?? you do know the properties that people rent are already taxed.

You exempt people who pay car taxes though. You are lowering property tax in cities.

[Beeker2211]

RE the proposed Sales tax increase, the Post article said the main idea is to have 1% of sales tax receipts via statute (not Constitutional Amendment) to be set aside specifically back to municipalities. It's an interesting idea but how would the money be portioned out? By population, need, political standing of GA members? Our educational funding structure is already byzantine and has been ruled unconstitutional under the State's constitution, and if the 1% back is anything like this we should run from the idea.

[BPt111]

Malloy Wants to Avoid Tax Increases; Can't Rule Them Out | NBC Connecticut

[Sigequinox]

Originally Posted by BPt111

Malloy Wants to Avoid Tax Increases; Can't Rule Them Out | NBC Connecticut

How is even possible that they could need more? I seriously do not understand CT economics at all. Its mind numbing how epic of a fail this place is.

[Henry10]

Originally Posted by Sigequinox

How is even possible that they could need more? I seriously do not understand CT economics at all. Its mind numbing how epic of a fail this place is.

It's called a death spiral. Taxes go up, people leave, welfare people move in, place is trashed. Where have we seen that movie before?

[Beeker2211]

Originally Posted by Sigequinox

How is even possible that they could need more? I seriously do not understand CT economics at all. Its mind numbing how epic of a fail this place is.

CT's tax-to-GSP ratio (even counting property taxes) is much lower than just about an other state (ours is about 3.4% to the national average of 5.5%). We pay more because we generally make more, it's sticker shock not a real determinate.

[New Englander]

Originally Posted by East of the River

For real estate development there are some tax credits for urban and industrial site reuse. Some towns and cities also over property tax abatement for larger projects. There is also the small business express program which is designed to get low cost loans to small business. The only other one I can think of that may apply is the employment credit for hiring Vetrans or long term unemployed people.

Thanks for the insights. It sounds like the programs are scattered on the state and local level. I'll need to research them.

[Sigequinox]

Originally Posted by Beeker2211

CT's tax-to-GSP ratio (even counting property taxes) is much lower than just about an other state (ours is about 3.4% to the national average of 5.5%). We pay more because we generally make more, it's sticker shock not a real determinate.

Are you speaking specifically to sales tax? Either way, I'm not sure what this would have to do with anything. Tax burden analysis after tax burden analysis consistently rank CT in the worst 5 for variables that matter to any individual or business. Not sure what relevance ratio between tax and GDP or GSP would have to measuring uselessness and undesirability of a state. Neither GDP or GSP take cost of living into account and the skewed wealth of our state toward NYC metro results in a lot of over interpretation for the majority of CT. I could care less, and assume most people and businesses agree, whether what I pay in taxes is .1% or 10% of GDP. We care about what percentage of our disposable income gets siphoned off by government goons and then poured down the drain with nothing to show for it.

[Mr_250]

Now this is some good news! Electric Boat poised to hire 1,350 for Groton sub work - News - The Bulletin - Norwich, CT

Hope this is a ripple down and really has a positive impact on eastern Connecticut!

[Beeker2211]

Originally Posted by Sigequinox

Are you speaking specifically to sales tax? Either way, I'm not sure what this would have to do with anything. Tax burden analysis after tax burden analysis consistently rank CT in the worst 5 for variables that matter to any individual or business. Not sure what relevance ratio between tax and GDP or GSP would have to measuring uselessness and undesirability of a state. Neither GDP or GSP take cost of living into account and the skewed wealth of our state toward NYC metro results in a lot of over interpretation for the majority of CT. I could care less, and assume most people and businesses agree, whether what I pay in taxes is .1% or 10% of GDP. We care about what percentage of our disposable income gets siphoned off by government goons and then poured down the drain with nothing to show for it.

It means, while the sticker price is high, there's a enough evidence that CT is both undertaxed vis-a-vis to the majority of states and the tax dollars actually are being better spent (high service to low enough taxation). The lists you mention put a heavy emphasis on property tax in total value: forgetting that there are a enough huge estates with hefty (for us common folk) tax liabilities but outside of those few properties CT's modal payments is actually less than comparable states.