The Connecticut Post: A giant sucking sound on the horizon
media mentionThe nonpartisan Institute on Taxation and Economic Policy broke it down more. They pay more than $125 million in just state and local taxes in Connecticut. That would rise by more than $20 million if they had legal status.
Republican presidential candidate Mitt Romney once said you can’t take that much money out of an economy without doing serious harm. When asked in 2012 why he didn’t propose more draconian cuts to the federal budget, he said: “If you take a trillion dollars out of the first year of the federal budget, that would shrink GDP over 5 percent. That is by definition throwing us into recession or depression.”