March 4, 2016

Hartford Courant: Letters CT Income Tax Already Progressive And Fair

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“The letter “Fairer Taxes Needed” [Feb. 22] relies on the Institute on Taxation and Economic Policy to assert that Connecticut state taxes are decidedly unfair. So why not raise taxes on the wealthy even higher? 

But that’s not what the institute’s “Who Pays?” report shows. Even counting local property taxes, the report ranks Connecticut right in the middle among the states at 26th in tax fairness. With respect to our state’s primary revenue source, personal income taxes, the institute’s report actually shows that state income taxes for the wealthiest 20 percent equal 4.5 percent to 5.4 percent of disposable family income. By contrast, the lowest wealth 20 percent get back more than they pay due to the state earned income tax credit for poor working families. “

The letter “Fairer Taxes Needed” [Feb. 22] relies on the Institute on Taxation and Economic Policy to assert that Connecticut state taxes are decidedly unfair. So why not raise taxes on the wealthy even higher? 
But that’s not what the institute’s “Who Pays?” report shows. Even counting local property taxes, the report ranks Connecticut right in the middle among the states at 26th in tax fairness. With respect to our state’s primary revenue source, personal income taxes, the institute’s report actually shows that state income taxes for the wealthiest 20 percent equal 4.5 percent to 5.4 percent of disposable family income. By contrast, the lowest wealth 20 percent get back more than they pay due to the state earned income tax credit for poor working families

 

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