Yesterday’s post about Texas Governor Greg Abbott’s big tax breaks for business lead me to find the exact same thing happening in Connecticut — except for being completely turned around.
Read:
The recent passage in Connecticut of a $40 billion budget that seeks $1.5 billion in tax increases and fees, makes permanent a 20 percent surcharge on business income, and for the first time taxes corporations on their foreign earnings has predictably attracted national attention. How did Connecticut, which just over two decades ago had no income tax and was widely known as “the Switzerland of New England,” so quickly become the third highest-taxing state in the nation, the most indebted on a per capita basis, and, according to Barron’s, the worst managed?
Short answer: Because Democrats.
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