Health & Fitness
Did the Hartford Courant mischaracterize the new Connecticut income tax?
The Hartford Courant recently published an article suggesting that recent criticism of the new Connecticut State income tax bill may be based on unfounded charges of class warfare.
On the front page of the Hartford Courant on July 27, 2011, Mara Lee, a business reporter, wrote an article, “Next Week’s State Income Tax Bite? Not So Big For Most Workers”, suggesting that recent criticism of the new tax law may be based on unfounded charges of class warfare.
However, Mara Lee fails to report on the significant discrepancy in the tax bill's effect on the tax liabilities of professionals—including physicians, attorneys, other professionals, and small business owners in Berlin, Connecticut—as compared to those of S&P CEOs living in Fairfield County. While Berlin, Connecticut physicians, attorneys, and other professionals and small business owners, reporting taxable incomes of around $500,000, will see their taxes increase by ~25% under the new tax bill, those S&P CEOs earning on average $9,000,000 will only experience a tax increase of ~4%: a whopping 21% difference in the percentage rate of increase in taxes!
Is this not class warfare by the elite Wall Street rich, placing the burden of the new Connecticut income tax bill on professional individuals and small business owners? Wait till these physicians, attorneys, other professionals, and small business owners see their Connecticut incomes taxes next year! But where is their outrage now? Are they oblivious to the ramifications?
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For more details and to sign the petition against this inequitable tax bill, please click, Does the Hartford Courant’s recent report on the effects of the Connecticut income tax miss the point?
