Posted inCT Viewpoints

To fix Connecticut’s state budget, tax the rich!

Summer jobs for teenagers have been canceled, state college and university charges keep rising, and every area of public life is affected by the state’s budget crisis — all in the second wealthiest state in the country, with the second highest level of inequality. Connecticut’s budget shortfall is projected at about $2 billion per year. Yet, the wealthiest residents face a lower effective tax rate than the rest of us, and hundreds of millions are lost every year through corporate loopholes, special exemptions, legal tax avoidance, and outright tax evasion. If the wealthiest households paid at the same rate as the rest of us, more than $2 billion per year would be raised, erasing the deficit!

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