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.

Steve Danenberg

Old Lyme

READER COMMENTS

Loading comments...
Hide Comments

Stories that may interest you

Do something about do-nothing Congress

Contempt of Congress! I am sick and tired of that threat. This is the most contemptible Congress in the history of our great nation. Since the 2018 election they have done zero for the good of our country. If they were holding a job in the private sector, they would have been fired long ago for...


It appears Trump lied about who would fund wall

After reading yet another article about funding for "the wall" titled, "Dems denied Trump the tools he needs," (June 1), I am baffled. Am I the only one that...


Lingering anger over Vietnam pushed politics far left

This theory is based on 20 years of war in Vietnam (1955 to 1975). The draft did not include college students until they graduated. As the war progressed, students began to agitate against the war: they didn’t want to be drafted on graduation. The above were serious...


All this time off for employees hurts small businesses, eliminates good jobs

Connecticut recently passed a law guaranteeing paid family and medical leave for up to 12 weeks at full pay. Someone needs to explain why every employee who gets a paycheck will pay an additional tax for this benefit whether they use it or not, except for government or municipal employees who...

TRENDING

PODCASTS