Tuesday, October 8, 2019

Conneticut's slow job growth

is likely caused by taxes and regulations that prevent assets from moving to higher valued uses:

  • ...the governor raised taxes on Connecticut residents by about $1.7 billion over two years, mostly in the form of various new sales taxes. 
  • [the governor] “refinanced” pension payments to state employees. The agreement with the unions doesn’t reform the system but shorts contributions by $2 billion through 2032, only to increase the taxpayer’s obligation by $5 billion from then until 2047. 
  • a 6.5 percent pay increase for state troopers and an 11 percent increase for assistant attorneys general.  
  • a $15 statewide minimum wage and workers will be hit with a new 0.5 percent payroll tax to fund a mandatory paid-leave program.

2 comments:

  1. How does this square with growth in California? Could there be a cause that wasn't regulation and tax?

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