OK … it’s just one Democrat, or is it? State Senator Eileen Daily, a member of the party that got us into this debt fix thinks extraordinary times call for extraordinary measures. You… meaning the tax payer … were responsible and you … will have to pay.
For your viewing pleasure the video first … and then I will update with some statistical comparisons among the states.
OK … there you go … you’re not overburdened. But wait, there’s more. She also took a crack at explaining the new proposed tax on the full retail price of items … even when they are on sale. That’s right. Got a coupon? Fear not … the state will still tax you for the full amount. Daily of course sees nothing unreasonable in this. It’s a “scheme”. A Scheme?
Ok, let’s take a look at the numbers, shall we.
Connecticut’s income tax rate currently is 5%, higher for millionaires of course. Massachusetts is 5.3% and New York is 5.9% up to $200,000. As for the corporate tax, Connecticut is 7.5% plus a 20% surcharge, Mass is 8.8% and New York is 7.1%.
Boiled down … welcome to Connecticut, we’re as crappy as our neighbors.