New State Budget Proposal... Same Old "Taxing" Ideas
The Democratically controlled CT Legislature came up with a way to “fix” their hemorrhaging budget crisis, and figured they would do it later in the week when nobody was watching. Unfortunately for them, with States all over the country facing the same problems… everyone is watching.
The Democrats’ newly drafted budget calls for a variety of tax increases that will hit various groups all struggling to make ends meet in these challenging times. The proposed tax hikes would amount to more than $3 billion over just two years. The Hartford Courant outlined the budget plan in an article late last week:
The Democrat budget proposal will hit Nut Meg State residents in a number of ways:
- A 60% spike in the income tax rate for the state’s most productive residents
- A reduction in the property tax credit (AKA a property tax hike)
- Application of sales tax to items that had been previously exempt (including child car seats)
- Sales tax increase of $80 million
- A 30 percent surcharge on the corporate profits tax outliving the budget
The budget proposal, which passed largely along party lines, drew harsh criticism from many Republicans. Republican Gov. Jodi M. Rell characterized the plan almost immediately after passage, saying "it is the most fiscally irresponsible scheme I have seen in all my years here at the Capitol."
Death Tax primed to "kill" Rancher and Family Legacy
Simply put, the Federal Government never sees an "end" to any kind of reach that they may have.
The "Death Tax" is a concrete example of this disease that has hurt not the Federal Government, but everyday people who experience the harsh realities of life.
In a Wednesday piece from Austin American-Statesman, Rancher Clayton Leverett tells of the increasing hardships that he and his family now face because of the unfair and overreaching "Death Tax" that has put the survival of his family's ranch (which has seen five generations of Leverett) in serious jeopardy.
After reading Mr. Leverett's story, think about how easy it has become for the Federal Government to hinder the Financial Freedoms of Americans. After that, think about the prospect of them reaching even further into our pockets... dead or alive: