Story in today’s CT Post about the McKinney/Cafero roadshow perfectly illustrates my frequently-raised opinion that higher taxes, fees and regulation decrease rather than increase government tax receipts.
It seems to me that the GOP leadership has really hit upon a weapon, not merely for the budget war (is it a war, now? More like a Cold War, never ends, but quiet on all fronts), but in next year’s elections. If the business owners’ remarks quoted here are any indication, the GOP no-new-taxes budget will not only find great favor with the middle-class electorate, but will also greatly assist in fundraising. As one attendee put it, “I’ve given up on Connecticut.”
Before more businesses do, it is time for Hartford to look at the GOP back-to-2007 plan as a possible way to avoid economic Armeggedon, which would occur when small businesses just get up and leave en masse — as they will if and when the business tax is raised.