It is time to stop the vicious cycle of ever-rising taxes
It’s in Connecticut’s best interest to cut property and corporate taxes
Imagine you are retired, living on fixed income, forced to move out of Connecticut due to steeply rising property taxes. Imagine you are an insurance employee, laid off because soaring corporate taxes drove your company away. Imagine you are an anxious homeowner, afflicted by plummeting property values caused by population outflow.
This is the dilemma that Connecticut is grappling with: High taxation begets corporations fleeing; corporations fleeing beget moribund insurance industry; moribund insurance industry begets a shrinking tax base and plummeting property values; a shrinking tax base and plummeting property values have generated a vicious cycle of ever-higher tax increases on remaining residents.