How Connecticut’s ‘tax the rich’ ended in middle class tax hikes, lost jobs, and more poverty
Taking money out of the private sector, even if that money belongs to “rich” people is almost NEVER a good idea.
(From Illinois Policy)
Connecticut’s experience is a warning that switching to a progressive income tax will eventually end in a tax hike on Illinois’ struggling middle class, result in fewer jobs – particularly for those on the margins of the labor force – and increase poverty. It will fail to combat inequality or fix the state’s finances.
http://www.againstcronycapitalism.org/
Source: https://www.ac2news.com/2019/06/how-connecticuts-tax-the-rich-ended-in-middle-class-tax-hikes-lost-jobs-and-more-poverty/
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