State officials challenged Connecticut’s poorest municipalities to think big as new funds are made available to revitalize their communities.
wealth inequality
Posted inNews
CT set to give $3,200 bonds to every child born into poverty
The “Baby bonds” bill is an effort to tackle CT’s yawning wealth gap; Lamont expected to sign into law
Posted inMoney
Child advocacy group calls for major tax shift to close ‘highly unjust’ income, wealth gaps
A child advocacy group wants up $1.4 billion in annual tax burdens shifted from low and middle earners to the rich.
Posted inEducation
Murphy says Dalio partnership showed the risk of trading influence for philanthropy
“No billionaire should have more say than my poorest constituent,” Murphy says.
Posted inEconomic Development, Government, Health, Money
CT Voices: State should tap reserves now to expand workforce, provide pandemic relief
A new report recommends Connecticut officials should use budget reserves now to expand pandemic relief efforts and hire more employees.
Posted inMoney, Politics
After one alarming tax fairness study, CT is wary of launching a second
After a 2014 study found CT’s tax system hammers the poor and middle class, officials have postponed a second analysis.
Posted inMoney
CT Voices proposes major state tax shift to reverse inequality
A leading child advocacy group challenged state leaders Wednesday to reverse escalating income and wealth inequality and provide tax relief for poor and middle-income households by shifting tax burdens onto the state’s millionaires.
Posted inMoney
CT’s wealth inequality remains a looming obstacle to tolling cars
While many issues killed Gov. Ned Lamont’s plan to toll passenger cars, fears about the impact it would have on the poor weighed heavily on some lawmakers.
Posted inMoney
Tax breaks for seniors could widen gap between CT’s rich and poor
In their push to make Connecticut a more attractive place to retire, have policymakers inadvertently worsened the inequality gap in a state already known for its extremes of income and wealth?
Posted inMoney
The millionaire-with-a-suitcase: man or myth?
For nearly a decade, it has been the favorite argument of those opposed to higher state taxes for Connecticut’s wealthy — migration. Simply put, if you tax them, they will leave.
But is it true?
Posted inMoney
Among Connecticut cities and towns, the wealthiest are the big spenders
While Connecticut’s distressed cities often are perceived as having bloated budgets, the wealthy suburbs easily outspend their urban neighbors on a per capita basis, sometimes by margins nearing two-to-one. More importantly, shrinking state aid, a lack of revenue diversity and an over-reliance on a regressive property tax system threaten to widen tremendous disparities that already exist between Connecticut’s poorest and richest communities. Second in a series.
Posted inMoney
Already deep in debt, Connecticut struggles with extremes of wealth and income
The growing gap between Connecticut’s richest and poorest citizens, which already outstrips that in most other states, has widened dramatically since the last recession. While only the most affluent households improved their standing, the rest lost ground. How to address this inequality and a crushing state debt at the same time will be at the core of Connecticut’s political debate for years to come. First in a series.