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Slippery Slope of Taxation January 29, 2019

Posted by geoff in News.
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The problem with government spending is that it almost always increases, eventually exhausting normal revenue sources and credit. Then you have to start looking elsewhere for money

Gov. Ned Lamont wants to end Connecticut’s cycle of budget deficits, deliver property-tax relief and amass a fiscal bulwark against the next recession. But to do it, he may push wary legislators to extend the sales tax for the first time to groceries, medications and other long-exempt items.

As with the income tax, which grew from modest beginnings to today’s behemoth, government will always seek more revenue. Even if they have to sacrifice their facade of distaste for regressive taxes.

And if Elizabeth Warren ever succeeds in taxing the wealth of the top 1%, you can guarantee that in a few decades they’ll be digging into the wealth of the top 10% or top 25%.

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