Better and fairer revenue raising ideas
I respond to your lead article, “Panel again calls for tax reform,” (Nov. 29), about a panel’s recommendations to stabilize and grow Connecticut’s economy. Tax “reform” is a major suggestion. Cut the tax on the top margin, income over a million, by .29 percent while gradually eliminating the estate and gift taxes. Wonderful gifts for the wealthy! By the way, Connecticut ranks third per capita in number of millionaires; tied for fifth in actual billionaires. And, we’re second in inequality. This proposal might put us into first place!
For the middle-class, the panel suggests a doubling of the tax credit for property and cars. Then comes a regressive usage tax on just about everything from nonprescription drugs to dentistry to parking to newspapers, etc. Top it off with a 2 percent tax on groceries, 2 percent more on restaurant meals. Owning neither cars nor property, the poor would be battered by this plan.
Better ideas to increase revenue based on who can well afford it and plain, simple American fairness: raise the top income bracket to 10 percent on income over $500,000; tax people who stay in their Connecticut homes for the percentage of time they live here. Put up tolls! Increase the gasoline tax. Remember, taxes are an investment in our future and a duty of engaged citizenship.
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