Tiger Board Logo

Donor's Den General Leaderboards TNET coins™ POTD Hall of Fame Map FAQ
GIVE AN AWARD
Use your TNET coins™ to grant this post a special award!

W
50
Big Brain
90
Love it!
100
Cheers
100
Helpful
100
Made Me Smile
100
Great Idea!
150
Mind Blown
150
Caring
200
Flammable
200
Hear ye, hear ye
200
Bravo
250
Nom Nom Nom
250
Take My Coins
500
Ooo, Shiny!
700
Treasured Post!
1000

YOUR BALANCE
High-tax Connecticut facing new budget mess
storage This topic has been archived - replies are not allowed.
Archives - General Boards Archive
add New Topic
Replies: 7
| visibility 676

High-tax Connecticut facing new budget mess


Jun 28, 2017, 6:31 PM

http://www.foxnews.com/politics/2017/06/28/high-tax-connecticut-facing-new-budget-mess.html


Illinois isn't the only state dealing with financial headaches these days. Connecticut, too, is facing big budget problems as major corporations flee the state's high taxes and its fiscal future gets murkier by the day.

While Illinois is facing the possibility its credit rating hitting "junk" status, Connecticut has the distinction of the third-worst ratings in the country -- behind Illinois and New Jersey.

Much of the financial troubles are tied to the state’s pension system, which two-term Democratic Gov. Dannel Malloy’s office is seeking to address with a new plan to save the state $24 billion in “coming years.”

The state has been losing corporations crucial to its economy. Just last month, Aetna Inc. announced negotiations with several other states to move its corporate headquarters. Aetna, the health insurer which has been based out of the state’s capital, Hartford, since 1853, is reportedly exploring a move to Boston or New York.

Hartford has been struggling with a financial quagmire of its own, even meeting last month to discuss the option of filing bankruptcy, which the mayor said would be a “death knell” for the city.

But Aetna is not the first major corporation to explore exiting -- General Electric left its headquarters in Fairfield, Conn., last year after more than 40 years.

“They (GE executives) said Connecticut continues to tax at rates that make it unaffordable for businesses, people to stay here and didn’t see what Connecticut looked like seven or eight years from now,” he said. “... That’s the same analysis I’ve heard from a number of businesses as to why they’re leaving. The progressive agenda this governor put forth is now coming home to roost.”

flag link military_tech thumb_downthumb_up

These fiscal problems are the result of greedy unions and


Jun 28, 2017, 6:42 PM

The idiot politicians who got fleeced by the union negotiators. Worst case scenario of kicking the can down the road...

flag link military_tech thumb_downthumb_up

Re: High-tax Connecticut facing new budget mess


Jun 28, 2017, 8:02 PM

They need to become a sanctuary state. A few million more illegals should fix their financial woes. No wait, that didn't help.

2024 orange level memberbadge-donor-10yr.jpgringofhonor-clemsontiger1988-110.jpg flag link military_tech thumb_downthumb_up

Re: High-tax Connecticut facing new budget mess


Jun 28, 2017, 8:21 PM

Funding state pensions is a big deal for many states. SC included.

Federal bailouts on the way....

2024 orange level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up

How's supply-side Kansas doing?


Jun 28, 2017, 10:34 PM

http://www.kansascity.com/news/politics-government/article114021098.html

Oh.

badge-donor-05yr.jpg flag link military_tech thumb_downthumb_up


Re: How's supply-side Kansas doing?


Jun 28, 2017, 11:00 PM

Wasnt on Fox News; must be fake

2024 white level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up


Not good


Jun 29, 2017, 9:27 AM [ in reply to How's supply-side Kansas doing? ]

but cutting taxes without cutting spending to pay for those cuts, won't work.

http://www.centralmaine.com/2017/06/25/jim-fossel-kansas-did-supply-side-economics-the-wrong-way/

2024 orange level memberbadge-donor-20yr.jpg flag link military_tech thumb_downthumb_up

Good article, not one reference to Laffer curve solutions***


Jun 29, 2017, 9:36 AM



2024 purple level memberbadge-donor-10yr.jpg flag link military_tech thumb_downthumb_up

Replies: 7
| visibility 676
Archives - General Boards Archive
add New Topic