“What you do speaks so loudly, I cannot hear what you are saying” -Ralph Waldo Emerson.
In the world of politics, it would be wise to heed those words. Candidates talk about restoring jobs, yet too many support policies that have created one of the most unfriendly environments for growth in the nation.
Last year state expenditures exceeded revenues by $844 million. That shortfall was masked by draining the state’s Rainy Day Fund, using one-time federal stimulus, delaying payments to the state pension fund, small gains in tax revenue in the final few months of the fiscal year, and massive borrowing.
Remember that last year Hartford refused to trim the size of state government and enacted one of the largest business tax increases in the country. Even so, revenue fell well below predictions. Our House Speaker seems to feel that there is good news here. “We were going to borrow $900 million this year, that’s down to $646 million,” he says. This is not good news; it is no way to run a business, a household or state government.
However, Connecticut can thrive again. We did it over a decade ago when there was political balance in the General Assembly and a pro business mind-set ideology. We can keep people and jobs here by lowering taxes on business, cars, pension, real estate and inheritance. As New Hampshire, Florida, Texas, Washington and Indiana have found, when you cut tax rates, tax revenues actually increase
Jobs and the economy concern everyone. The young seek opportunities to access the American dream through a robust free enterprise system. For retirees, private sector jobs keep Social Security and pensions solvent, and growth prevents taxes from eroding fixed incomes’ purchasing power. In this important election year, don’t listen to what a politician says. Like Emerson advised, watch what they do.
State Senator Toni Boucher