[WestRiverTraveler]

Originally Posted by BostonBornMassMade

This is a very modest cut in the lower middle class and legitimately impoverished. Nice sentiment but will have no effect whatsoever on the economy or economic climate. Good for the campaign trail though and for the truly destitute. There’s real value in that.

I'm assuming it will be graduated brackets so that everyone will get a cut. It's just that on percentage basis, it helps lower incomes more. A $300 tax cut means more to someone making $50K than $500.

[SteveM85]

His Excellency, the Chosen One, Hero for the Masses Lamont doesn't need this to win re-election and He will be doing handstands to re-election in 26, but it certainly does bolster His legendary mythical status in the state.

[BobNJ1960]

Originally Posted by CTartist

Taxing people $25,000 single/$50,000 married 3% (like it is now) in CT is just cruel. It should be -0-.

agreed.

I would like the 10-50k split in halves, actually. 10-30 be a lower rate, than 30-50, which should be lower than the 50k rate.

I would be ok with 1.5% tax on 0-30k single, 0-60k married.

[JayCT]

Originally Posted by Stepfordct

It’s too late. Do it now. Putting it of till an election year in 24, when they have been talking about this since 22 smells

Why does this “smell”? You do realize that it is 2023 right now and it will take months for the Bill proposing to be reviewed and approved by the Legislature. It’s logical to have it implement beginning in the next tax year which is 2024. Jay

[Stepfordct]

Originally Posted by JayCT

Why does this “smell”? You do realize that it is 2023 right now and it will take months for the Bill proposing to be reviewed and approved by the Legislature. It’s logical to have it implement beginning in the next tax year which is 2024. Jay

They have been hinting about this since last year.
They can do better. Like Tom Cruise said “Show me the money!”

[masssachoicetts]

Originally Posted by Stepfordct

They have been hinting about this since last year.
They can do better. Like Tom Cruise said “Show me the money!”

Well like JayCT said. It is already 2023. You can't do that realistically.

I'd say thats good timing since it takes 3 years to delineate a freshwater wetland and get proper state approvals.

[norcal2k19]

Everything can be better, but the fact that we can propose and implement a sustainable income tax cut that also protects services is impressive. I’m liking the “can do” spirit of our governor - better than the battles we see in neighboring states. I like good governance and “boring” politics.

[JayCT]

Originally Posted by norcal2k19

Everything can be better, but the fact that we can propose and implement a sustainable income tax cut that also protects services is impressive. I’m liking the “can do” spirit of our governor - better than the battles we see in neighboring states. I like good governance and “boring” politics.

I do too.

And our state appears to be on the right path for more “good governance”. Lamont and the legislature are near agreeing to keep what he calls our budget “guiderails” in place for another decade. These guiderails have kept our state from overspending the last ten years and wasting our budget surpluses recklessly. It’s built our Rainy Day Fund and forced us to make advanced payments to our pension obligations. Fiscally it’s been very good in that all four bond rating agencies have raised our credit ratings, one has raised it twice.

On top of this Lamont is proposing to raise our Rainy Day Fund maximum from the current 15% of the budget to 18%. That’s even better. This is “good governance” at its best since it will allow the state to weather an even worse downturn in the economy. Great news. Jay

https://ctmirror.org/2023/02/07/ct-b...t-sharing-ecs/

[moguldreamer]

Originally Posted by mdovell

I'm still thinking the Lego move might be just a scam to have taxes lowered.

How is it that moving for lower taxes is a "scam"?

[JayCT]

Originally Posted by moguldreamer

How is it that moving for lower taxes is a "scam"?

Companies threaten to move to get better tax incentives to stay and expend here. It’s not likely but it has happened before. You never know. Jay