Connecticut Senate Approves Budget With Special Tax of Millionaires

AP Breaking, via TBO.com ^ | 25 April 2002 | Matthew Daly

[Vigilant1]

By Matthew Daly Associated Press Writer
Published: Apr 25, 2002

HARTFORD, Conn. (AP) - The state Senate approved a budget plan Wednesday that would make Connecticut the only state to impose a special tax on millionaires.

The $13.5 billion budget plan approved by the Democrat-controlled Senate includes a two-year, 1-percent surcharge on people who earn more than $1 million per year. About 6,500 taxpayers would be affected by the surcharge.

The 20-16 vote was decided largely along party lines. The House may vote on the proposal as early as Thursday. Republican Gov. John G. Rowland has promised to veto the budget plan.

Republicans complained that the tax was unfair and antibusiness and could force thousands of well-to-do residents to leave the state.

The state "shouldn't provide disincentives to people to create wealth, to create jobs and to give to the United Way," Rowland said. "These people could live in Florida at the snap of a finger."

But Democrats said it was only fair to target the wealthy, since the state had already raised taxes on poor people by increasing the cigarette tax by 61 cents per pack.

Democratic Sen. Martin Looney, co-chairman of the tax-writing Finance Committee, noted the 5.5 percent rate that would be charged to the highest income-earners is below the highest tax bracket in New York, New Jersey and many other states.

If the budget is approved by the House and signed by Rowland, the millionaire's tax would be the only one of its kind in the country, said Mandy Rafool, a tax specialist for the National Conference of State Legislatures.

AP-ES-04-24-02 2352EDT

[Vigilant1]

More liberal "eat the rich" class warfare. All it really accomplishes is job security for tax lawyers and accountants.

[Pushi]

Millionaires should move out of the state. Let's see how the state would like that. Unfortunately, in Connecticut most of those millionaires are probably DemocRats and don't have the intelligence to care.

[jwalsh07]

But Democrats said it was only fair to target the wealthy, since the state had already raised taxes on poor people by increasing the cigarette tax by 61 cents per pack.

And when they come for us nobody will be left who gives a crap.

Paraphrasing of course.

[nutmeg]

But Democrats said it was only fair to target the wealthy, since the state had already raised taxes on poor people by increasing the cigarette tax by 61 cents per pack.

Excellent post (#3), jwalsh07... I'm still incredulous after reading this line!

[nutmeg]

Talk about punishing success! Thanks for posting this article. I'll ping some CT FReeper pals on this one.

[Gaston]

About 6,500 taxpayers would be affected by the surcharge.

This has to be the smallest minority in the state.

[Redcloak]

Connecticut: Making California look good.

[nutmeg]

ping!

[spectre]

You are exactly right. It takes a true politician to justify one stupid confiscatory tax by levying another in the spirit of "fairness".

As an aside, you are considered wealthy in Arkansas when you earn 50k or more. That is then the SEVEN PERCENT state tax rate kicks in.

[Danette]

So, only people that smoke are poor? The rich don't smoke? Huh?

[OldFashionedAmerican]

But Democrats said it was only fair to target the wealthy, since the state had already raised taxes on poor people by increasing the cigarette tax by 61 cents per pack.

What a moronic statement. If you read this logically, it basically states that only the poor smoke....

I live in Connecticut, and its a miracle that Rowland was ever elected... most of the people in this state lean so far to the left that a large percentage of them have brain damage from the impact of the car mirrors on vehicles headed in the opposite direction...

The largest newspaper in Connecticut, the Hartford Courant, is such a liberal rag that I would not let it into my house if it were given away.

[RWG]

And when they come for us nobody will be left who gives a crap...

they've already gotten us, we fight not because it is possible to win but because we have already lost.

[nutmeg]

FYI

[concerned about politics]

Republicans complained that the tax was unfair and antibusiness and could force thousands of well-to-do residents to leave the state.

I really hope they do. As many as possible. Not only will they lose their "new" tax dollars, but their old as well. I really hope the millionares leave. They've earned their wealth, yet the Democrats feel it should be shared by those who haven't. Unreal!

[seenenuf]

Coming to a neighborhood near you! As long as the ignorant vote for pols who promote class warfare. What's to stop it,,unless the rich quit!

[LarryLied]

Florida, with no income tax, is getting a flood of very wealthy people from other states. I believe most pro-atheletes now "live" in Orlando.

[concerned about politics]

unless the rich quit!

That may just happen someday. When there's more grasshoppers than ants can support, the ants will stop working. Why labor for nothing?

[conserve-it]

Watch all the million dollar homes go up for sale....lol

[Lancey Howard]

The House may vote on the proposal as early as Thursday. Republican Gov. John G. Rowland has promised to veto the budget plan.

Do the scumbags control the House as well as the Senate in Connecticut? The article doesn't say.