Taxes

The government long ago, (Jimmy Carter time frame) eliminated certain items from the official calculation of the rate of inflation.  Specifically food and energy (gas).  The graph below calculates inflation with the old formula with food and energy included and compares with the new and improved government approved inflation rate.   The data speaks for...
Read more »

Taxing behavior reduces that behavior. Taxing work causes people to work less. Here’s the punch line from the end of the article: HERE’S the bottom line: Without any taxes, accepting that editor’s assignment would have yielded my children an extra $10,000. With taxes, it yields only $1,000. In effect, once the entire tax system...
Read more »

From Pam Sawyer Please don’t trust what you see in the latest articles from the Leadership of the Democrats……. Latest Budget Myths Myth: State of CT ended last year with a $450 million surplus. Truth: CT is still facing yearly deficits of more than $3 billion starting next year and beyond. Two days ago...
Read more »

And our Connecticut Congressional “Representatives” voted for every single one, Thanks, Himes, Courtney, Larson, Murphy and DeLauro. Oregon Business Report: Congress has raised taxes by $670.341 billion since the new President Obama administration took office in January of 2009. The list below outlines the major new and extended taxes passed by the federal government:...
Read more »

Reason Magazine: Just weeks before the Patient Protection and Affordable Care Act (PPACA)—a.k.a ObamaCare—passed, President Barack Obama urged congressional Democrats to make a final push for the bill, and asked them to schedule a vote as quickly as they could. “From now until then, I will do everything in my power to make the...
Read more »

Just think how great our kids would learn in this school. Oh, by the way, the only factor ever proved to improve kids’ learning, is Mom. Yes, this is the same state that just gave out vouchers (IOUs) to state employees. With 9$B in debt and the highest taxes in the country, don’t laugh...
Read more »

Every year, the Americans for Tax Reform Foundation and the Center for Fiscal Accountability calculate Cost of Government Day. This is the day on which the average American has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state, and...
Read more »

Or why the economy is stuck in neutral. Check out the hiring woes of Michael P. Fleischer, at Ramsey, N.J.’s Bogen Communications Inc. Fleischer gives the case of the median-pay employee at his company. She makes $59,000 a year: Before that money hits her bank, it is reduced by the $2,376 she pays as her...
Read more »

Connecticut has the 5th biggest deficit nationally as a percentage of General Fund for 2009-2010 o NV – 30% o AZ – 29.8% o CA – 25.6% o NY – 24.3% o CT – 23.1% Connecticut already has the highest tax burden in the country. Connecticut’s young leave their home state at the highest...
Read more »

It is highly likely we are going to see a return to high inflation. #1: Because the government needs it to get out of the debt they have incurred. (A Billion $ A Day in Interest and climbing.) #2: Inflation is a natural economic outcome of creating money that has no basis in real...
Read more »

If the President’s Deficit Reduction Commission uses “baseline” or “current services” budgeting as a benchmark for determining spending “cuts” and tax increases, that’s a good sign that the crowd in Washington wants to pull a fast one on the American people. Baseline budgeting. This is the clever Washington practice of assuming that all previously...
Read more »

As we digest the HealthCare Bill more hidden gems come to light. For your consideration, a tax on home sales. Another 3.8% tax. The Health Care and Education Reconciliation Act of 2010, which President Obama signed into law March 30, is comprehensive and complex. Section 1402, “Unearned Income Medicare Contribution,” imposes a 3.8 percent...
Read more »

From ATR. Last week, Connecticut joined a growing chorus of states considering a tax on e-commerce to help shore up budgets. The state’s Joint Finance, Revenue and Bonding Committee held a hearing on Thursday where legislators hinted at eventual support for advancing the bill (HB 5481), which would require e-retailers to collect taxes on...
Read more »

The Proposed 2010 Budget from the Marlborough Town Website. I’ve converted it to pdf for those of you who don’t have Microsoft PowerPoint installed, click here.
Read more »

From the Connecticut House Democrats: Yes that is -$3.5 Billion in Fiscal Year 2012. Essentially $9.5 Billion in deficits for the fiscal years 2012, 2013 and 2104. Any comments? Thoughts as to what we as a state should do?
Read more »