Wednesday, August 26, 2009

CT Government Spending Outpaces Taxpayer’s Earnings By 64%

Governor Jodi Rell presented her fourth alternate budget proposal this morning that cuts spending by $520 million, eliminates the inheritance tax, reduces the sales tax from 6 percent to 5.5 percent and exempts small and medium-sized businesses from the temporary 10 percent corporate surcharge proposed in her last budget plan and the Democrats’ last plan.

Let’s see how the Democrats respond to this proposal. This Republican suggests we’re still not talking about substantive reform of government operations that will have a lasting impact on future tax policy in Connecticut.

Hidden in the supporting documents for the Governor’s announcement was a comparison of Connecticut state government spending versus the income of state residents. This document is the best argument in favor of spending cuts that I’ve seen in a long time!

Connecticut government spending outpaced our taxpayer resident’s income by 64% since 1987!

Imagine that – Connecticut government spending grew at such a rapid pace in the last 22 years that it far exceeded the growth of income for the resident’s who fund the government with their taxes.

I rest my case. No new taxes. Cut spending. Now!