Wealthy welcome to seek tax increase: Letter
After reading an article in the Connecticut Post entitled “Wealthy to Lamont: Raise our taxes,“ I was overjoyed.
To think that an organization directed by Phillip VanderKlay of New Haven, with support from the House Democratic Progressive Caucus, is publicly advocating raising taxes on the wealthy is revolutionary in my mind and long overdue.
According to them around 36,000 of Connecticut’s most fortunate average around $60,000 annually in tax saving from the Trump federal tax cut. In addition to this 400 millionaires and billionaires have petitioned Congress not to cut their taxes and complained that the hedge fund community is not asked to contribute enough.
Also, people and couples making $1 million or more per year should be placed in a higher income tax bracket. The end result would raise $74 million in state revenue.
To buttress his appeal and their efforts, VanderKlay is tirelessly seeking the support of many more wealthy people.
As Mr. Nixon of Norwalk said, “It’s just basically a matter of fairness in Connecticut tax policy.”
The end result of all of this and probably other saving effort could result in investing in improving transportation and education in our state.
Peter J. George