It seems like yesterday, but two decades have passed since
then-Connecticut Governor Lowell Weicker signed a state income tax into
law.
And while many of us can vividly recall the huge taxpayer
rallies which were held at the State Capitol during that time, we may have
forgotten that the hated tax hike was tied to a measure which restricted state
government spending increases to inflation and personal income increases.
They called it the “Spending Cap” – a cap on the amount of
your money our state officials could spend. It aimed to reassure a nervous public that the tax on our
personal income would not become the politicians’ license to spend.
Fast forward to today.
The income tax has not proven to be the cure-all for
Connecticut’s budget problems. In fact, it has proven to be the
predecessor to a variety of other tax hikes, including the recent
record-setting tax hikes on sales, estates, corporate profits and, yes, the
income tax.
Meanwhile, the spending of your money has not been brought
under control. Your state government
continues to have a penchant for spending whatever revenue becomes available.
This year, there is a move by Democrats in Hartford to
change the definition of the “Spending Cap”. By altering the definition,
the majority party would be able to enact future spending increases. In
other words, the “Spending Cap” - one of our only checks on runaway government
spending - would be forever altered.
I have a big problem with that idea of handing our elected
officials more blank checks to spend even more of your money, and I hope you see
why.
Think of a family on a budget. Let’s say a family has
been spending more money than the household is taking in as income. To
get back on track, you agree to abide by a spending allowance of a certain
amount each week. Sure, there are temptations to spend on unnecessary
items, but common sense usually prevails and the disciplined approach proves to
be the best long term solution.
In the State of Connecticut’s case, changing the definition
of the spending cap to suit elected officials’ spending habits would be a
terrible mistake. Our state is broke, yet we continue to borrow, tax and
spend your money as if there will be no consequences to the spree.
There of course will be consequences. They will arrive
in the form of higher debt and even more taxes on our children and
grandchildren.
The bill to unscrew the spending cap is House Bill 6352. I
hope you will join me in opposing the move to give our legislature a license to
spend.