HEY CONNECTICUT! 12.6% OF WHAT YOU EARN TODAY IS BEING TAKEN RIGHT OUT OF YOUR POCKETS BY IRRESPONSIBLE LAWMAKERS
HARTFORD (January 20, 2016):
The National Federation of Independent Business (NFIB) is reminding taxpayers
today that 12.6% of their earnings are earmarked for state and local taxes,
making Connecticut the second most burdensome tax state in the country.
“Its difficult to see
rankings like this knowing that since 2012, things have only gotten worse. We
may not be ranked the worst based on this study but the data will eventually
catch up to reality and when it does, we will have nowhere left to fall,”
according to Andrew Markowski, NFIB Connecticut state director. “Small
businesses certainly understand all too well just how overwhelming the tax
burden is in this state so our ranking comes as no great shock to those in the
trenches trying to survive this economic climate. We can only hope that
state lawmakers and the Governor can understand this as well and are not
dismissive of this report.”
Markowski is referring to
today’s release of State-Local Tax Burden Rankings FY 2012 by the Tax
Foundation. According to their release, a state’s tax burden is the portion of
total state income that goes to state and local taxes. In order to determine
the rankings they included all taxes reported by the Census Bureau’s State and
Local Government Finance division including property, sales and income taxes,
among others.
“We have been ranked in the
bottom 3 nationally by this study for at least the past 3 years. While other
state’s lawmakers have had the foresight to drive economic improvement through
policy and legislative initiatives, our elected officials in Hartford fail us
time after time. There is a solution to the tax crisis that drove General
Electric away and it lies in kicking the spending problem that our elected
officials have been suffering from for years. The time has come to begin to
make sound, fiscally responsible, decisions at both the state and municipal
levels,” concluded Markowski.
