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From The Federation of Connecticut Taxpayer Organizations
Contact:  Susan Kniep, President
Website: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032

 

Tax Talk June 10, 2010 

If you would like to receive excel spreadsheets on State Employee, Teacher/Administrator Pensions, write to fctopresident@aol.com

 

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 Q-poll: Blumenthal lead drops to 20; little change in races for governor

 

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SEE WHAT STATE EMPLOYEES WERE PAID IN 2009

http://www.scribd.com/full/30985869?access_key=key-2mpfvi2i96op2lxy6daw

 

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CONNECTICUT’S STATE BUDGET - CHECK IT OUT

http://sunshinereview.org/index.php/Connecticut_state_budget

 

 

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STATE CHECKBOOK AND MORE TO GO ON LINE

A SPECIAL THANK YOU TO REP. DEMETRIOS GIANNAROS, D-

FARMINGTON WHO PROPOSED THE BILL  - Click to Read The bill

 

State's checkbook to go online, but lawmakers are asking, 'Why stop there?'  June 8, 2010, The Ct Mirror, By Jacqueline Rabe With Gov. M. Jodi Rell's signature over the weekend, a new law will put a searchable database of the state's checkbook and employee payroll online for public review next year. But some lawmakers are asking, why stop there? Why not put everything online: applications, payments for services, regulations, anything the public needs.  Article is continued at ?.  http://www.ctmirror.org/story/6350/states-checkbook-goes-online-lawmaker-asking-why-stop-there

 

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Senate Weakens Bid to Tax Wall Street Like Rest of Us  Kevin G. Hall and David Lightman, McClatchy Newspapers: "Senate Democrats Tuesday weakened efforts to end a controversial Wall Street tax break, watering down a bid to raise taxes on managers of hedge funds, private-equity funds, venture capital firms and other business partnerships." http://www.mcclatchydc.com/2010/06/08/95541/senate-weakens-bid-to-tax-wall.html

 

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Connecticut Bond Rating Downgraded, by Keith Phaneuf, The Ct Mirror, State government's standing on Wall Street took a hit today when one of the three major credit rating agencies lowered Connecticut's bond rating, citing the state's repeated efforts to close budget deficits through borrowing, rather than spending cuts or tax hikes.  Continued at http://www.ctmirror.org/story/6317/connecticuts-bond-rating-downgraded-wall-street-heavy-borrowing-cited-major-factor

 

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Foxwoods milestone: $3 billion added to Connecticut coffers

 http://www.courant.com/business/hc-foxwoods-slots.artmay12,0,7858947.story

 

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Report: Recovery to be weak for Conn. Economy   By STEPHEN SINGER, Bloomberg Business Week,  A University of Connecticut study offers a gloomy outlook for the state's economy, citing persistently high unemployment, personal income failing to rise and weak real estate markets.  Continued at ?. http://www.businessweek.com/ap/financialnews/D9FUKB580.htm

 

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Yankee Institute Provides More Transparency

From the Yankee:  Yankee has released its annual poster-sized list of the 347 Taxes & Fees collected by the state. Everything from the income tax ($6.4 billion) to licensing fees to hypnotists ($8,010). Be sure to check out the new graph showing how much the growth in state government spending has outpaced growth in state population and gross state product (a measure of the state's capacity to pay).

 

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Are Government Workers Underpaid? No. Once all promised benefits are included, government employees at all levels, local, state, and federal receive significantly greater total compensation than private-sector workers. By Andrew G. Biggs, A resident scholar at the American Enterprise Institute, June 9, 2010

 

In addition to health coverage and other benefits that are consumed today, most state and local employees also become eligible for defined benefit pension and health benefits in retirement.

 

A recent research paper released by the Center for State and Local Government Excellence argues that employees of state and local governments earn salaries and benefits significantly less than similar private-sector workers. But this study omits unfunded pension and retiree health benefits for public-sector workers. Once unfunded promises are included, state and local employees may receive significantly greater total compensation than private-sector workers.  Continued at ... http://www.american.com/archive/2010/june-2010/are-government-workers-underpaid-no

 

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America's Ten Most Corrupt Capitalists Zach Carter, AlterNet: "The financial crisis has unveiled a new set of public villains - corrupt corporate capitalists who leveraged their connections in government for their own personal profit. During the Clinton and Bush administrations, many of these schemers were worshiped as geniuses, heroes or icons of American progress. But today we know these opportunists for what they are: Deregulatory hacks hellbent on making a profit at any cost. Without further ado, here are the 10 most corrupt capitalists in the U.S. economy." Continued at .. http://www.alternet.org/economy/146819/america's_ten_most_corrupt_capitalists/

 

 

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Corporations Profit From Permanent War: Memorial Day 2010
Bill Quigley, Huffington Post, "US law officially proclaims Memorial Day 'as a day of prayer for permanent peace.' However, the US is much closer to permanent war than permanent peace. Corporations are profiting from wars and lobbying politicians for more. The US and the rest of the world cannot afford the rising personal and financial costs of permanent war...This coming year, the US will spend 708 billion dollars on war, and another $125 billion for Veterans Affairs - over $830 billion." Continued at ..
http://www.huffingtonpost.com/bill-quigley/corporations-profit-from_b_586896.html

 

 

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How Too-Big-to-Fail's Army of Lobbyists Has Captured Washington
Kevin Conner, Institute for America's Future: Throughout the financial reform debate, the finance industry has waged an unprecedented assault on the democratic process, spending an estimated $1.4 million per day to influence Congress and hiring 70 members of Congress and 940 former federal employees to lobby on their behalf.   Continued at .. http://www.ourfuture.org/report/2010051911/big-bank-takeover

 

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From the National Association of State Budget Officers http://www.nasbo.org/Publications/NewsletterArchives/StateBudgetPressClipsArchives/tabid/128/Default.aspx

 

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Check Out Connecticut within The Fiscal Survey of States
Spring 2010

http://www.nasbo.org/LinkClick.aspx?fileticket=a0PxFxwpSro%3d&tabid=38

 

 

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Connecticut left out of health care reform bill's Medicare windfall

By Deirdre Shesgreen, The Ct Mirror, June 9, 2010 WASHINGTON - The federal government is preparing to dole out $400 million in extra Medicare money to low-spending hospitals around the country, thanks to an 11th hour provision added to the sweeping health reform law to win over a handful of wavering lawmakers.  Connecticut hospitals won't see a dime  Continued at .  http://www.ctmirror.org/story/6361/connecticut-left-out-reform-bills-medicare-windfall

 

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Connecticut pays a high price for tax breaks, The CT Mirror, 

By Keith M. Phaneuf  Connecticut has more than $5.3 billion worth of exemptions, credits and other tax breaks on its books, including more than $3 billion on its sales tax alone, according to a new report from the legislature's Office of Fiscal Analysis.

http://www.ctmirror.org/story/5392/connecticut-pays-high-price-tax-breaks

 

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