Gov. Dannel P. Malloy helped deliver a paid-sick days law sought by the Working Families Party in 2011. The coolness of his relationship now with the labor-backed group was reinforced Monday when he said that the WFP’s proposal for a special tax on hedge fund managers is such bad policy it shouldn’t even be discussed.
Whatever fiscal sacrifice is proposed Wednesday by Gov. Dannel P. Malloy to close a budget shortfall of $1.7 billion, a liberal coalition will be standing by with an alternative already rejected by the governor — raise more than $500 million by nearly quadrupling the income tax on hedge fund managers. Their message is directed at President Trump, not just Malloy.
Gov. Dannel P. Malloy reacted warily Tuesday to state legislation to eliminate the “carried interest” tax break for Connecticut’s influential hedge fund managers, suggesting instead that the liberal sponsors press President Trump to keep his pledge to eliminate the tax benefit through federal action.
The arguments surrounding a bill to eliminate Connecticut’s estate tax — a bill not expected to advance this year – might offer a preview of the battle some anticipate next year over the fairness of the state’s tax system.
WASHINGTON – GOP presidential hopeful Donald Trump has a new target for his ire — other super-rich guys, the nation’s hedge fund managers. “I know a lot of bad people in this country that are making a hell of a lot of money and not paying taxes,. The tax law is totally screwed up.” he said.