From: The Federation of Connecticut Taxpayer
Organizations
Contact: Susan Kniep, President
Website: http://ctact.org/ Email: fctopresident@aol.com Telephone: 860-841-803
TAXPAYER
BRAGGING RIGHTS!The Federation congratulates FCTO Board
Member, Jim Louziotis, and all members of the
taxpayer group, Lower Our Taxes – LOT –to include Barbara and Larry Hample in their efforts to put the New London budget on the Ballot giving
taxpayers a voice in the budget process.Although New London city officials appear eager to thwart their efforts
asdescribed in the article captioned Taxpayers start budget battle with city
| WTNH.com Connecticutwe know LOT will work, as they always do, in
the best interest of the taxpayers of New London.Anyone wishing to speak to Jim or Larry and
Barbara can reach them at 860-443-1144 or 860-443-2919.
For months, the Federation has been alerting Connecticut taxpayers to
what we perceive to be the unrestrained spending by the Governor and our State
legislature which could ultimately lead to a reduction in State aid to
municipalities and in turn, local property tax increases on homeowners and
businesses.A recent headline has now
confirmed our suspicions as Malloy 'can't make any promises' about
town aid in next budget.
As Congress stands on the edge of the Fiscal Cliff staring
into the abyss of budget cuts and looming tax increases, the State of Connecticut appears to
have taken the plunge over the cliff. Christine Stuart recently reportedCT News Junkie | Deficit Up To $60.1Mnoting that “The state is just four months
into the fiscal year and it’s $60.1 million in the red, according to Office of
Policy and Management Secretary Ben Barnes.“In his monthly letter to state Comptroller Kevin Lembo,
Barnes noted the deficit increased $33.2 million from last month’s estimated
$26.9 million deficit. “This change is due to weaker revenue
collections.”
Recently,the Connecticut
Conference of Municipalities (CCM) released a report as highlighted by
CTNewsJunkie.com in their article captioned Municipal Lobby Shines Light On
Property Taxes, Gears Up For Legislative Debateand CTMirror.org in their articleCommunities still feeling
the property tax bite, municipal lobby says.Therein, CCM notes that “Connecticut's 169 cities and towns,
along with their boroughs, fire districts and other political subdivisions,
levied about $8.7 billion in property taxes in 2009-10, the last fiscal year
for which CCM has complete records, Finley said, adding that the total, once
updated, likely would clear $9 billion for the current year.“Property taxes provide about 72 percent of
the revenue for municipalities, while state aid -- which stands at about $3
billion -- represents 24 percent, according to CCM.”You may find
it interesting toCompare the Mill Rate in Your Town With
Other Towns .
Within a Municipal Lobbying Group Addresses Escalating Property Taxes, the Federation Offers Suggestions on How Town Leaders Can
Work to Reduce Property Taxes recognizing that theElephant
in the Room which many are ignoring as it relates to the issue of escalating
property taxes are State Collective Bargaining and Binding Arbitration Laws
which have put public sector unions in control of cost drivers such wages,
health care, pensions and management related issues.Personnel related costs account for
approximately 80% to 90% of Municipal and Board of Education budgets throughout
the State.These costs are determined by
arbiters if union contracts cannot be settled between management and
labor.In addition, Past Practice has
been upheld by arbiters if a benefit to the employee has continued without
interruption even if the benefit is not referenced within their union contract.
Example: The right of union members to drive town-owned vehicles home versus a
Town Manager or Mayor attempting to end the practice due to budget
constraints.Arbiters have ruled that
current union members can continue the practice while proposing the practice
cease for new hires
Another question to ponder is – Is
there Too Cozy a Relationship Between the Governor, the State Legislature and the State
Employee Unionsas Healthbridge Sues alleging…“the pattern of actions by SEIU,
including enlisting politicians and liberal activists in efforts to shame the
company into a more generous stance toward its workers, are criminal extortion
under the RICO Act, a federal law often invoked in cases of organized crime and
racketeering. "This action is not about strikes or union organizing or
collective bargaining," the suit says. "It is about a corporate
campaign, endorsed and effectuated by Defendants and facilitated by the
politicians they support, that is in its essence a shake-down by a lawless
enterprise."SEIU
is the Service Employees International Union
************************
Recognizing that Connecticut Taxpayers
are Taxed to the Max, Robert Young, ryoung0@snet.net, Secretary of the Federation of Connecticut Taxpayer
Organizations,sought
the data and compiled the following information which is a
Summary of State
Revenues by Fund, Tax Type and Account for Fiscal Years 2007 through 2012.
STATE REVENUES
FY 2007-2008
FY 2008-2009
FY 2009-2010
FY 2010-2011
FY 2011-2012
Personal Income
Tax
7,512,688,284
6,385,856,437
6,586,098,745
7,246,431,257
8,310,820,450
Sales and Use
Tax
3,582,316,852
3,318,752,207
3,203,987,561
3,353,230,300
3,830,116,804
Electric
Generation
0
0
0
69,532,719
Corporate Tax
733,941,984
615,920,501
667,132,486
794,472,509
716,521,891
Public Service
Corp. Tax
237,112,562
268,494,765
267,945,828
269,805,902
250,396,580
Inheritance
& Estate Tax
170,618,814
238,336,664
177,600,970
237,573,241
191,699,581
Insurance Co.
Tax
227,220,954
202,217,264
226,549,565
220,625,695
237,608,648
Cigarette Tax
335,196,665
317,774,453
387,435,034
499,415,134
421,004,824
Real Estate Tax
158,544,197
90,802,186
100,267,099
94,822,047
107,530,821
Petroleum Co.
Tax
333,283,240
246,313,157
264,917,723
334,462,843
372,966,634
Alcoholic
Beverage Tax
47,077,475
47,064,448
48,196,427
48,922,851
60,595,455
Amusement Tax
37,276,886
36,040,020
34,379,169
34,455,618
34,398,531
Miscellaneous
Tax
139,979,799
143,304,958
138,999,907
140,505,449
536,809,665
Refund of Tax
-859,183,335
-1,058,371,073
-1,068,748,229
-962,822,962
-1,105,171,071
R & D Credit
Exchange
-11,362,507
-8,428,079
-8,936,648
-8,598,487
-87,108,122
Transfer Special
Revenue
287,603,607
287,195,243
289,313,774
293,107,879
313,756,643
Casino Gaming
Payments
411,409,920
377,804,963
384,247,532
359,581,533
344,645,419
Licenses,
Permits & Fees
323,434,156
305,128,457
389,364,403
385,895,265
419,988,634
Sales
Commodities & Services
30,066,553
32,535,999
33,694,170
35,505,586
35,004,915
Rents, Fines
& Escheats
59,117,352
63,760,344
252,960,611
157,771,166
123,498,056
Investment
Income
100,498,044
34,388,995
10,743,532
5,535,251
3,172,408
Miscellaneous
Revenue
139,381,059
164,987,569
154,313,182
178,727,489
199,280,334
Refund of
Payments
-3,220,301
-3,096,151
-4,094,725
-4,879,446
-4,810,343
Federal Grants
2,698,396,710
3,622,963,146
4,047,622,239
4,244,537,539
3,607,458,837
Transfers from
Others
115,300,000
115,800,000
102,898,482
116,015,139
96,100,000
Transfers to
Others
-92,800,000
-92,800,000
-68,300,000
-68,300,000
-68,300,000
Unknown
812,102
5,146
2,928,071
0
72,485
Motor Fuels Tax
492,122,768
492,024,644
503,635,414
483,526,139
492,794,802
Motor Vehicle
Receipts
225,524,482
220,780,734
220,703,127
220,144,426
235,446,219
Motor Vehicle
Sales Tax
64,863,384
57,133,714
67,784,155
71,942,605
69,611,485
Grand
Total Revenue $$$$
17,497,221,706
16,522,690,713
17,413,639,605
18,782,411,970
19,815,443,305
************************
Connecticut has
also made the news within the article Nine States with Sinking Pensions.
Therein, Connecticut is ranked number 3 as the author
notes
> Pct. liability funded: 53% > Total liability: $44.8
billion (22nd largest) > Total funded: $23.8 billion
(24th smallest) > S&P credit rating: AA
Connecticut has fallen short of paying its full annual
pension payout three times between 2005 and 2010, and just over half of its
liabilities were funded. In 2011, state unions agreed to concessions worth $1.6
billion, including changes to pensions,
to avoid widespread layoffs. Some of the concession the unions agreed to, among
others, were raising the retirement age by three years for those who retireafter
2017 and increasing the penalty
for employees who retire early. Despite the changes, Moody’s Investor Services downgraded the state’s credit ratingfrom Aa3
to Aa2. The downgrade was partially due to unsustainably high retirement costs
and “pension funded ratios that are among the lowest in the country.”
**********************
Jon Lenderof the Courant
reported that theHigher-Ed Chief Reaped $100,000+ In Compensation
Above $340,000 Salarynoting
that “Robert Kennedy, the higher education chief who resigned Oct. 12 amid an
uproar over $250,000 in unauthorized raises given to his subordinates, received
at least $100,000 more than his widely reported $340,000 annual salary in 13
months on the job — including $75,000 from a contractual bonus and an unvouchered expense account. “What's more, the now-departed
appointee of Democratic Gov. Dannel P.
Malloy is still eligible for an additional $20,000 in "deferred
compensation" — even after he's gone. “And although there was criticism
over Kennedy's 8½-week absence from Connecticut
during the summer, he's still expected to be paid more than $4,000 for 26.67
hours of "accrued vacation."Read more at http://www.courant.com/news/politics/hc-lender-column-kennedy-contract-20121019,0,7871279.column
noting that “Former University of Connecticut President
Philip E. Austin will earn the same $340,000 annual salary as his predecessor
-- but none of the additional lucrative incentives -- in exchange for leading
the state's embattled, merged public college system on a temporary basis.
“Besides authorizing Austin's
compensation package,
the Board of Regents for Higher Education also voted Thursday to reinstate two
controversial pay hikes for two top executives. “A board sub-panel recommended the move, arguing
these increases -- unlike 19 others -- actually
were stipends properly authorized by the full board to reflect significantly
increased responsibilities.”Read more athttp://www.ctmirror.org/story/17898/higher-education-board-gives-new-president-same-pay-minus-expensive-perks-ousted-chief
By Pete Kasperowicz - 10/26/12
06:00 AM ETEconomists appear to be in broad
agreement that the possibility of ending the
Bush-era tax levels next year would have about twice the impact on economic
growth as the automatic cuts to government spending under the sequester. An
informal survey of economists shows that they see increased marginal income tax
rates as causing up to 40 percent of the slowdown in economic growth if the United States
were to "jump off" the so-called fiscal cliff. In contrast, they
attribute about 20 percent of the slowdown to reductions in government
spending. This assessment mostly reflects the amount of money the higher taxes
would take out of the economy compared to the lower spending. Returning
marginal income tax rates to where they were in the Clinton administration
would take a bit more than $200 billion out of the private sector, while the
sequester would require a cut of about $100 billion in 2013 government
spending. The reality of these numbers is already putting pressure on
Republicans and Democrats — which have both promised to focus on economic
growth — to reach some agreement on taxes before the end of this year.Continued at ….. http://64.147.104.30/blogs/floor-action/house/264135-economists-see-tax-hike-as-twice-the-problem-for-growth-than-spending-cuts
by Christine Stuart | Oct 25, 2012
9:30amCTNewsJunkie.com The state’s spending over the past two
decades has shifted away from education and
social services to debt service and state employee health insurance, a reportreleased Thursday found. Human services, which accounts for
one of the largest portions of the state budget, dropped 33.4 percent to 30.9
percent over the past two decades, while Medicaid spending has increased.
However, the state spent 27 percent less per Medicaid enrollee in the last 10
years than it did a decade previous . Conversely from
1992 to 2012, retired state employee health care spending increased 239.1
percent and general fund debt service increased 50.3 percent. “As a consequence
of fiscal pressures and budget decisions over the past two decades, the state’s
debt has more than doubled in inflation-adjusted dollars, increasing by 142
percent,” the report concludes.Continued at …… http://www.ctnewsjunkie.com/ctnj.php/archives/entry/new_report_finds_ct_spending_less_on_education_more_on_employee_health_care/
by Terry D. Cowgill Posted: Oct 19,
2012 5:30am Unless his second two years are as daunting as the first two, Gov. Dannel P. Malloy is one lucky man. Then
again, maybe not.Since his
swearing in, Malloy has accomplished a lot of unpleasant tasks (e.g. defusing a
budget crisis, a record tax increase, intemperate remarks about teachers and
givebacks from state labor unions) that ticked off a lot of his natural allies.
And as I wrote in this space late last year, if the governor wants to run
for re-election in 2014, Connecticut’s wretched economy will likely have
improved by then and Malloy will have gotten most of the ugly obstacles out of
the way early in his first term, leaving those he offended with ample time to
forget. But I might have spoken too soon. Now add this one to the list of Malloy challenges: two senior
executives of the newly created Board of Regents of Higher Education resigned last week over a scandal in which 21 education officialswere improperly given hundreds of thousands of dollars
in raises.Continued at ….. http://www.ctnewsjunkie.com/ctnj.php/archives/entry/regent-gate_taints_malloy_will_voters_remember/