Gaffey to resign, plead guilty in PAC case,
Governor Malloy and Legislature Must Cut Spending, Not Increase Taxes
From The Federation of Connecticut Taxpayer Organizations
Contact Susan Kniep
Website: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032
Breaking News:
Gaffey
to resign, plead guilty in PAC case
Arrest warrant affidavit
Gaffey's
statement
Tax Talk January 3, 2011
Malloy Prepares To Take Over Wednesday;
First Time Democrat To Succeed Republican
Since Ella Grasso In 1975
http://blogs.courant.com/capitol_watch/2011/01/-hartford-when-dan.html
The
Federation of Connecticut
Taxpayer Organizations takes this opportunity to extend to Governor Malloy,
Lieutenant Governor Wyman, and their staff our best wishes for the year
2011. We understand the difficulties
which lie ahead during what will be a difficult budget session. We also trust that the Governor and the
State legislature understand that Connecticut
taxpayers pay some of the highest taxes in the nation and that spending must be
cut and mandates reformed to avoid imposing additional taxes on the overtaxed
taxpayers of our state and 169 towns. During the budget session, the Federation
will be offering our proposals. We invite
others to forward their suggestions to us at fctopresident@aol.com.
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Connecticut’s Debt: $72 Billion Dollars!
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State's unfunded pension liability hits 22-year high
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Connecticut’s Latest Fiscal Accountability Report http://ctmirror.org/sites/default/files/documents/OFA_Nov%2015%202010%20report2.pdf
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As of January
1, 2010: 7,289 Connecticut
Retirees are Receiving Pensions Between $50,000 and $259,000.
- 4,989 Connecticut Teachers and Administrators are
Receiving Pensions Between $50,000 and $183,000
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Learn More About Connecticut’s
State Budget http://sunshinereview.org/index.php/Connecticut_state_budget
Malloy
tries to prepare public for budget deficit realities
By Keith
M. Phaneuf Jan 2, 2010 As a candidate, Malloy tried to preserve his options to make
painful budget choices without unnecessarily reminding voters about them. Now,
with his administration set to begin Wednesday, Malloy is working to prepare
people for what's required to close a massive deficit. Continued at http://ctmirror.org/story/8852/malloy-now-faces-expectations-created-during-campaign
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The State of Connecticut’s Office of Legislative Research Produces Many
Reports Some of Which You May Find of Interest
http://www.cga.ct.gov/olr/
Examples (click to access):
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State and Local Budget and Revenue
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STATE TAXATION OF TEACHERS’ PENSIONS
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STATE MANDATES IMPOSED ON MUNICIPALITIES
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State Employees
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Conn. agency recommends end to several tax credits
Boston Globe HARTFORD, Conn.—State economic development officials say some Connecticut tax credits
and property tax abatements have a negative or limited impact and should be
abolished. A report by the Department of
Economic and Community Development obtained Monday by The Associated Press
recommends the elimination of several tax credit programs such as a property
tax abatement for investments of at least $20 million intended to spur job
creation in cities.
The report says state corporate tax credits have jumped 87
percent between 1995 and 2007, to nearly $109 million. Continued at http://www.boston.com/business/taxes/articles/2011/01/03/conn_agency_recommends_end_to_several_tax_credits/
Eyes on
Connecticut as health care action shifts to states By Michael
Regan Jan 03, 2011 10:14am Even as Republicans in Congress try to undo
federal health care reform, the action is shifting to the states, Sarah Kliff says at Politico--and Connecticut is one to watch. The SustiNet
program could become a model for a state version of the so-called "public
option," which was excluded from the federal reform bill. Under a proposal
to be submitted to the General Assembly this month, the state would create a
health insurance plan that would cover state employees and retirees, Medicaid
and HUSKY recipients, and ultimately be sold to municipalities, nonprofits,
small businesses and the public
http://www.ctmirror.org/blogs/editors-choice
SustiNet Board Finishes Its
Work by Christine Stuart
Posted: Dec 29, 2010 9:32pm
Municipal Lobby Asks State To Protect Local Grants by Christine Stuart Jan 3, 2011 11:45am The Connecticut Conference of Municipalities
made clear Monday that cuts in municipal aid will simply shift the tax burden
to local property taxpayers across the state. But with Malloy, a former
president of the organization as governor, the group is optimistic that their message will resonate this year. http://www.ctnewsjunkie.com/ctnj.php/archives/entry/municipal_lobby_hopes_for_the_best/
How to fix state pensions without a federal bailout -- The November
election sent a message of no more bailouts. Yet many states could default on
debts in 2012, forcing a crisis. What can be done now?By the Monitor's Editorial Board / December 29,
2010 Read the full report at http://www.csmonitor.com/Commentary/the-monitors-view/2010/1229/How-to-fix-state-pensions-without-a-federal-bailout/(page)/2
County lawmakers say they want to return to 2008 spending
levels. By Cathryn J. Prince | Jan 3, 2011 "The growth
of state government is out of control, but some legislators have a love affair with
government programs. In some
cases we have managers of managers of managers," said state Rep. Jason Perillo, a Republican who
represents part of Shelton
in the 113th House District. "Eliminating programs and rolling back to
2008 spending levels is a no-brainer." Read
complete article as it appeared in Darien.Patch
at the following link:
http://darien.patch.com/articles/tough-economy-decisions-await-ct-lawmakers
Towns
wary of a budget shell game By Keith M. Phaneuf Jan 2, 2010 Connecticut's cities and towns
made it clear Monday they're guarding against the traditional shell game state
government has employed in past fiscal crises - shielding assistance in high
profile programs while stripping funding from lesser ones. And this year's game
has a new wrinkle, with more legislators open to the idea of letting
municipalities levy new taxes. Continued at http://ctmirror.org/story/8857/towns-guarding-against-states-fiscal-shell-game
From The Hill - Poll: Tax hikes on rich the first step toward balancing
budget
Michael O'Brien 01/03/11 07:24 AM ET Raising taxes on the rich beats out
cuts to defense spending, Medicare and Social Security as U.S. adults' top
preference on how to close the deficit, according to a 60 Minutes/Vanity
Fair poll. http://thehill.com/blogs/blog-briefing-room/news/135639-poll-tax-hikes-for-rich-should-be-first-step-toward-balancing-budget
Public Workers Facing Outrage as
Budget Crises Grow (Michael Powell / New York Times) By MICHAEL POWELL New
York Times January 1, 2011
Across the nation, a rising irritation with public employee
unions is palpable, as a wounded economy has blown gaping holes in state, city
and town budgets, and revealed that some public pension funds dangle perilously
close to bankruptcy. In California, New York, Michigan and New Jersey, states
where public unions wield much power and the culture historically tends to be
pro-labor, even longtime liberal political leaders have demanded concessions —
wage freezes, benefit cuts and tougher work rules. Continued at
http://www.nytimes.com/2011/01/02/business/02showdown.html?_r=1
'Free' Lunches Are Killing Us With
Their Cost (column - Thomas Sowell / Investor's Business Daily) By THOMAS SOWELL Posted 12/28/2010 06:22 PM ETYou cannot have generous
welfare state laws that let people retire on government pensions while they are
in their 50s, in an era when most people live decades longer.
In the U.S.,
that kind of generosity exists mostly for members of state government
employees' unions — which is why some states are running out of money, and why
the Obama administration is
bailing them out, in the name of "stimulus."
Once you buy the idea that the government should be a sort
of year-around Santa Claus, you have bought the kinds of consequences that
follow. Continued at http://www.investors.com/NewsAndAnalysis/Article/557990/201012281822/Free-Lunches-Are-Killing-Us-With-The-Cost.aspx
Should Nonprofits being paying taxes – some think so….
Financial Health: Real property taxes By Jack Karns
Jan 2011, Critics of this real property tax exemption contend that nonprofits
rely on local utilities and should pay their fair share of what it costs the
community to provide them. Churches,
nonprofit hospitals, and other nonprofits benefit from the real property tax
exemption and finally local and county governments are taking action to either
deny nonprofit status or require that payments in lieu of taxes be paid to
cover the cost of the nonprofit entity's share of local real property taxes. http://www.reflector.com/business/financial-health-real-property-taxes-228663
As Local and State Governments Go
Broke, Public Employee Unions Must Share the Pain (editorial -
Washington Examiner) By: Examiner
Editorial 12/28/10 8:05 PM One need look no further than two Michigan
officials -- William Cooper, the city manager of Hamtramck, and Tom White,
associate director for labor relations of the Michigan Association of School
Boards -- to grasp the seriousness of the financial crisis exploding across
this country. Cooper told the New York Times that his city government
"maybe" can pay its bills through March 1. Hamtramck has already cut what it could from its budget, reducing
spending for parks, senior centers and road maintenance. Now city
leaders say their only remaining option is to file a municipal bankruptcy. http://washingtonexaminer.com/opinion/editorials/2010/12/governments-go-broke-public-employee-unions-must-share-pain
The One State Budget Crisis No One's Talking About Jan 3, 2010 Joe
Weisenthal and Gus Lubin You know the story
and you know the names: states like Illinois, New Jersey, New York, and
California are supposed to be in huge financial trouble thanks to bloated
governments, business-unfriendly regulations, and strong public sector unions.
After a crisis-free 2010, investors are expected to punish these hotbeds of bad
governance in a muni bond
market rout, at least if pundits like Meredith Whitney are correct. But there's
one state, which is fairly high up on the list of troubled states that nobody
is talking about, and there's a reason for it.
The state is Texas.
Continued at
http://www.businessinsider.com/texas-state-budget-crisis-2011-1#