Connecticut billionaires are wising up to the fact that they are trapped in an abusive relationship.
The “abuser” is the Liberal government who has been soaking them for taxes each year, and for no reason except they can.
The billionaires have awakened. Connecticut is seeing tax revenues on the decline. The wealthy are shielding their wealth through charitable contributions and other means, and Connecticut is getting “cut off”, so to speak.
According to Yahoo News,
The more the government relies on the super-wealthy, the more volatile that revenue is, said Sullivan, a former Democratic lawmaker. And raising taxes on the wealthy to attack income inequality has its limits, he said.
Tax policy, he said, should not make the state dependent on the very rich.
“You don’t want a system that doesn’t ask them to do their fair share,” he said, “but you don’t want a system that makes you so reliant on their fair share that if they all picked up and left tomorrow or died tomorrow you’d be screwed, as they say in the tax business.”
Hard to believe that a state can tax a group so heavily that even a handful of departures could cripple the state. I’d say that’s a tax policy that needs review.
Funny how the principles of Conservatism win out over “tax and spend” Liberalism every time.