5 Mar 2018
Lawmakers Review Malloy Tax Plan – Hartford Courant, 2018/03/02
A key legislative committee debated Friday over Gov. Dannel P. Malloy’s revenue package that covers hiking taxes on cigarettes, gasoline, real estate sales and hotel rooms.
As the state is facing a deficit of nearly $200 million in the current fiscal year and higher deficits in the future, the tax-writing finance committee is facing a deadline of April 6 to craft a tax package in order to balance the state’s budget.
As part of the budget, Malloy is also proposing establishing highway tolls in Connecticut for the first time in three decades and raising the gasoline tax by 7 cents per gallon over four years.
The SALT deduction in the new federal tax plan is also a factor.
The new law, signed by President Donald Trump, imposes a cap of $10,000, but many large properties in Fairfield County and around the state have real estate taxes of more than $10,000 per year. The owner of a waterfront mansion in Darien, for example, can pay as much as $80,000 per year in property taxes.
Sullivan said that 66 percent of the $10.8 billion in impact in the SALT deduction is from people with incomes ranging from $200,000 to $500,000 per year.
1 Feb 2018
Judge orders release of Las Vegas shooting autopsy reports – Las Vegas Review Journal, 2018/01/30
A District Court judge on Tuesday ordered the Clark County coroner’s office to release the autopsy reports of Stephen Paddock and the 58 people he killed in the Oct. 1 Las Vegas massacre.
But as of late Tuesday, Clark County Coroner John Fudenberg had not complied with the order. He indicated he wouldn’t release Paddock’s autopsy report until it was “finalized.”
Review-Journal Editor-in-Chief Keith Moyer added: “The shooter’s body was cremated Dec. 21. How can the autopsy report not be ‘finalized’ when the body was cremated more than five weeks ago? The law is squarely on the side of the public’s right to open government.”
The coroner’s office has fought to keep autopsy reports confidential. Three weeks ago, a judge ordered the coroner to pay about $32,000 in legal costs to the Review-Journal for refusing to release public records to the newspaper.
16 Jan 2018
New California Declares Independence From Rest Of State – CBS Sacramento, 2018/01/15
With the reading of their own version of a Declaration of Independence, founders of the state of New California took the first steps to what they hope will eventually lead to statehood.
To be clear, they don’t want to leave the United States, just California.
“Well, it’s been ungovernable for a long time. High taxes, education, you name it, and we’re rated around 48th or 50th from a business climate and standpoint in California,” said founder Robert Paul Preston.
The state of New California would incorporate most of the state’s rural counties, leaving the urban coastal counties to the current state of California.
INDEPENDENCE DECLARED FROM CALIFORNIA JANUARY 15, 2018
They are looking to take the same path as West Virginia in declaring their independence.
They have a 1-2 year road ahead of them. It will be interesting to see how this pans out.
8 Jan 2018
Editorial: Connecticut’s Money Is Moving Out – Hartford Courier, 2018/01/03
Those who moved out of Connecticut from 2015 to 2016 took with them more than $6 billion in adjusted gross income, or AGI. People who moved to Connecticut brought with them only about $3.36 billion in AGI. The total net loss to Connecticut: $2.7 billion. In one year. That was in the top five of all states, regardless of population.
The states that poached the most taxpayers from Connecticut were New York (8,202 tax returns) and Florida (7,944). The average adjusted gross income for those who left for New York was $111,653. That’s pretty bad, but it’s nowhere near as shocking as Florida, where the average return from former Connecticut residents was $253,187 in adjusted gross income.
That means more than $2 billion in income moved from Connecticut to Florida from 2015 to 2016, more than twice as much money as moved to New York.
You can legislate taxes… you can’t legislate every human response… at least not yet…
3 Jan 2018
Kennedy accuses Emanuel of ‘strategic gentrification plan’ to force blacks out of Chicago – Chicago Tribune, 2018/01/03
Democratic governor candidate Chris Kennedy on Wednesday accused Mayor Rahm Emanuel of leading a “strategic gentrification plan” aimed at forcing African-Americans and other minorities out of Chicago to make the city “whiter” and wealthier.
“My belief is they’re being pushed out. This is involuntary. That we’re cutting off funding for schools, cutting off funding for police, allowing people to be forced to live in food deserts, closing hospitals, closing access to mental health facilities. What choice do people have but to move, to leave?” Kennedy said. “And I think that’s part of a strategic gentrification plan being implemented by the city of Chicago to push people of color out of the city. The city is becoming smaller and as it becomes smaller, it’s become whiter.”
Throw in the crime aspect, and it’s not a strectch to believe this. Emanuel is known for his statement about never letting a crisis go to waste… this would be taking it to the next level… manufacturing a crisis to cause change. Emanuel never directly addresses the accusation.
2 Jan 2018
This blog explains the importance of the State and Local Tax (SALT) changes that go into effect with the new tax bill. This statement seems to be a key.
The bottom line is that high-tax states no longer will be able to jack up taxes, using federal deductibility to spread some of the burden to low-tax states.
And this from an LA Times exerpt quoted in the blog…
There’s no credible justification for the federal government subsidizing California’s highest-in-the-nation state income tax — or, for that matter, any local levy like the property tax. Why should federal tax money from people in other states be spent on partially rebating Californians for their state and local tax payments? Some of those states don’t even have their own income tax, including Nevada and Washington. Neither do Texas and Florida. …federal subsidies just encourage the high-tax states to rake in more money and spend it.
In other words, some people in high tax states would tolerate high state taxes because it was all being deducted from their federal taxes… but not anymore. Only the first $10,000 of state taxes paid will be deductible. Now these states will need to face their high tax rates, or possibly see a mass migration to lower tax states. Read the blog for further info.
Restricting the Deduction for State and Local Taxes Is a Big [Expletive Deleted] Deal – International Liberty, 2018/01/02