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To: y6162
Ct, like other NE states, has had a flat population growth since the Weicker income tax was imposed in the late 80s.

You do understand that Weicker's income tax was an essentially self-interested move to cut his own taxes by 60%....

As an heir to the Squibb fortune, most of Lowell Weicker's income was unearned (interest, dividends) income, which was at the time taxed at a 10% rate in Connecticut. Earned income was not taxed. The Weicker bill subjected all income, whether earned or unearned, to (up to) a 4% tax rate. Thus, Lowell's tax bill was drastically cut.

The only reason the bill passed was that a Wall Street state senator representing backcountry Greenwich, Republican Bill Nickerson, broke with the rest of the Republicans to support his personal friend and fellow rentier Lowell Weicker.

16 posted on 04/14/2011 5:06:59 AM PDT by CatoRenasci (Ceterum Censeo Persae Esse Delendam -- Forsan et haec olim meminisse iuvabit)
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To: CatoRenasci

I remember too well. I was there.

Weicker is/was the most loathe some piece of crap ever.


18 posted on 04/14/2011 5:11:11 AM PDT by y6162
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