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(The Daily Beast)   Financially, Connecticut is now circling the drain, looking to be the new Puerto Rico   ( thedailybeast.com) divider line
    More: Interesting, Household income in the United States, state, New York, Hartford, Connecticut, New York City, Tax, state income tax, state coffers  
•       •       •

1696 clicks; posted to Politics » on 31 Jul 2017 at 6:40 PM (25 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2017-07-31 01:00:57 PM  
Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.
 
2017-07-31 01:58:52 PM  

Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.


Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.
 
2017-07-31 02:19:02 PM  

Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.


You might even argue that the uber-capitalist ethos of taxing everyone except your highest earners is a big part of the problem here.  But no, say that any louder than a meek whisper here and the Gold Coasters will honest-to-goodness cut that little handle-looking part of the state on the Southwest corner right off and turn it into Manhattan II.
 
2017-07-31 02:54:24 PM  
Thanks Obama
 
2017-07-31 05:38:10 PM  

Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.


Do you know how many drinks you can buy in Puerto Rico for $20???
If that's ruination -- then I'm all for it
 
2017-07-31 05:49:10 PM  
Financially Connecticut? Who is that? Such an interesting name
 
2017-07-31 06:11:41 PM  

Smock Pot: Financially Connecticut? Who is that? Such an interesting name


img.fark.netView Full Size
 
2017-07-31 06:44:38 PM  

Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.


Knowing his Geography GED, he probably thinks Kansas is in Finland.
 
2017-07-31 06:45:05 PM  
The 2008 crunch could have been predicted 30 years ago?

Also, I bet a big fat tax cut could fix this.
 
2017-07-31 06:47:34 PM  
I blame rooting for the Yankees.
 
2017-07-31 06:47:39 PM  
Derped in the boobies. Thread never had a chance.
 
2017-07-31 06:48:15 PM  
DRTFA but isn't Connecticut a blue state? Is their legislature full of Brownbacks?
 
2017-07-31 06:48:54 PM  
I was in Hartford a couple weeks ago. Doesn't look like anything new was built in that city in last 40 years except the Yard Goats stadium.
 
2017-07-31 06:50:30 PM  
I'm pretty sure the only way to fix this mess is with tax cuts for the rich.
 
2017-07-31 06:53:04 PM  

Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.


"Malloy, a Democrat, said he has spent his term in office "undoing the harm" of his Republican predecessors, Rowland and M. Jodi Rell."

Those damn commie Republicans are at it again!
 
2017-07-31 06:53:31 PM  
"Derped in the boobies," LOL.

Pretty much how most of these types of threads end up.
 
2017-07-31 06:55:37 PM  

Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.


"B... b... but Kansas!"
 
2017-07-31 06:57:06 PM  

Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.


Its almost as if these unions expect elected officials to never make mistakes...  stupid not getting the money upfront.  Democracies are never reliable!
 
2017-07-31 06:57:21 PM  

carkiller: Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.

You might even argue that the uber-capitalist ethos of taxing everyone except your highest earners is a big part of the problem here.  But no, say that any louder than a meek whisper here and the Gold Coasters will honest-to-goodness cut that little handle-looking part of the state on the Southwest corner right off and turn it into Manhattan II.


The answer to any government problem is always higher taxes.
 
2017-07-31 06:57:23 PM  

Scanty Em: The 2008 crunch could have been predicted 30 years ago?

Also, I bet a big fat tax cut could fix this.


Or some more union pensions...
 
2017-07-31 06:57:45 PM  
Yeah, CT has a lot of problems.  Lovely place to live (traffic aside), but CT just can't put together a vision for its future in the 21st century economy, like MA and NY has.

/Nutmegger who just moved to SD.
//Adjusted for inflation, I now make $10,000 less per year with 2 university degrees, than I made with just a HS diploma in CT.
///Pay sucks, but I love my job.
 
2017-07-31 06:58:10 PM  

Smoking GNU: Derped in the boobies.


img.fark.netView Full Size
 
2017-07-31 06:59:11 PM  

Lackofname: DRTFA but isn't Connecticut a blue state? Is their legislature full of Brownbacks?


It is, but apparently... KANSAS!
 
2017-07-31 07:00:24 PM  
I lived in CT for about 7 years and feeling glad to be out of there now that the tax bills will be growing.
 
2017-07-31 07:00:35 PM  

Ball Sack Obama: Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.

"B... b... but Kansas!"


I live in Kansas.  Let me assure you, 'But Kansas!' is a perfectly reasonable response to Laffer curve cultists.
 
2017-07-31 07:00:37 PM  

jjorsett: carkiller: Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.

You might even argue that the uber-capitalist ethos of taxing everyone except your highest earners is a big part of the problem here.  But no, say that any louder than a meek whisper here and the Gold Coasters will honest-to-goodness cut that little handle-looking part of the state on the Southwest corner right off and turn it into Manhattan II.

The answer to any government problem is always higher taxes.


When the problem is a lack of revenue, then yes, yes it is.
 
2017-07-31 07:01:21 PM  
a whole thread of Drew's friends to nuke from orbit.
 
2017-07-31 07:03:01 PM  

DarnoKonrad: a whole thread of Drew's friends to nuke from orbit.


It is impressive how this thread has sprouted Drew's friends faster than a cowflop sprouts mushrooms after a rainstorm.

What they're shoving out smells pretty similar.
 
2017-07-31 07:03:21 PM  
Of course, the Dems spent money like drunken sailors on shore leave against the sage advice of their fiscally conservative counterparts. Now the GOP will have no choice but to be the adults in the room and cut those extravagant retirement packages.
 
2017-07-31 07:12:38 PM  
...Much like the U.S.A. right now.
We need to stop this "winning".
 
2017-07-31 07:15:30 PM  

Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.


If only those Republicans governors John Rowland and Jodi Rell had had that foresight.
 
2017-07-31 07:16:11 PM  
Lots of people there with lots of money. They fret about it constantly, best to do the humane thing and relieve them of some of that wealth.
 
2017-07-31 07:16:51 PM  

UNC_Samurai: Straight Outta Wells Branch: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

Mismanagement of money does not equate to socialism. But thanks for playing. Say hi to Kansas for us.

Knowing his Geography GED, he probably thinks Kansas is in Finland.


Was he the one who got Florida and Mexico mixed up?
 
2017-07-31 07:18:15 PM  
Man, sure are a lot of hate-filled conservatives in here. I guess they are actively rooting for people to financially suffer because they didn't side with their lord and savior Donald Trump.
 
2017-07-31 07:19:00 PM  
Connecticut, the richest state in the nation, has racked up $74 billion in debt.

Christ, that as bad as that SO that won't stop charging shiet even though you don't have the means to pay it off...

Hmm, richest state, filled with people who pay as little tax as possible, complete mismanagement, spending sprees on shiny objects, and... SURPRISE!!

/not really
 
2017-07-31 07:19:13 PM  
FTFA:

"...ballooning payments for  public employees' guaranteed pension and health benefits for public employees and teachers are the main cause of Connecticut's fiscal misery..."

Same as Illinois:

https://www.illinoispolicy.org/unions-to-bankrupt-chicago-pension-fun​d​s/
 
2017-07-31 07:19:50 PM  
Ahh, Connecticut. The model of income inequality.
 
2017-07-31 07:20:30 PM  

Derp Du Jour: Of course, the Dems spent money like drunken sailors on shore leave against the sage advice of their fiscally conservative counterparts. Now the GOP will have no choice but to be the adults in the room and cut those extravagant retirement packages.


Username checks out.
 
2017-07-31 07:24:52 PM  
Thank you, admins.
 
2017-07-31 07:27:01 PM  

Scanty Em: The 2008 crunch could have been predicted 30 years ago?

Also, I bet a big fat tax cut could fix this.


2008 made things worse, but a two tiered problem that was utterly preventable is also in play here, and it's the 30 year thing:

1) CT had an obligation to pay pensions for state employees when they retired. It knew about the obligation, but didn't bother funding it. For decades. Including spending employee contributions on other shiat. Also corruption. But mostly simply not saving up for a payment they knew would come due. The payment is now due because those employees 30 years ago are now retiring, as employees will after 30 years. There's some gaming the system by employees who worked insane amounts of overtime their last three years to get triple digit pensions, too, but the root of the problem is disastrous financial management by the state.

2) Because reasons, the state either put new employees directly into 401k-style retirement plans instead of pensions, or pressured new employees to make irrevocable decisions to go with the 401k-style plans when they were hired. This happened in the early 2000s and happened to me. The unions collectively grieved and won the right to make a 1-time switch to the pensions. Many did, especially since the decision came down when the market was in the shiatter and you'd have been a fool not to go for a guaranteed income. So now, a fark-ton of new obligations down the road, when the first ones haven't even been paid for.

The only idea the state ever seems to have is to ask for concessions from state employees. I've worked for the state for 13 years and been promoted (which is just one extra yearly step up on the pay grid) twice, and I'm at step 7. There will be no steps for the next two (maybe three; too lazy to check - typical state worker, I guess) years if the latest concessions deal is approved. I'm also, at 13 years, still one of the relatively new faces where I work (and not just because it was a guy face for the first 12 years).

I farkin love my job, and I'm really farkin good at it. But the state is a goddam mess.
 
2017-07-31 07:28:41 PM  

DrewCurtisJr: I was in Hartford a couple weeks ago. Doesn't look like anything new was built in that city in last 40 years except the Yard Goats stadium.


An insane amount of property in Hartford (40%?) is tax exempt, so yeah, they're royally farked. Also corruption. Always corruption.
 
2017-07-31 07:29:58 PM  
http://www.taxpolicycenter.org/statistics/state-and-local-tax-revenue​-​percentage-personal-income
9.35%, comparable to CA 9.37%, and somewhat lower than the national average of 9.80%.
But considering their average income, this should result in plentiful coffers. So there must be a ton of mismanagement.
 
2017-07-31 07:31:01 PM  

TheFoz: Lucky LaRue: Hopefully the rest of the country will see this and wake up to the ruination caused by socialist policies and spending.

"Malloy, a Democrat, said he has spent his term in office "undoing the harm" of his Republican predecessors, Rowland and M. Jodi Rell."

Those damn commie Republicans are at it again!


To be fair, Rowland did time for corruption (drink!), and Rell mostly dithered and acted like the meek neighbor who won't yell at other people's kids, so...
 
2017-07-31 07:31:13 PM  
I'm seeing a lot of names on my blocked list suddenly popping up in this thread seemingly out of nowhere. Where were these people in frankly any thread in Politics recently?
 
2017-07-31 07:31:57 PM  
Also this line got an actual laugh out of me

"Rowland, currently serving the second of two non-consecutive terms in federal prison, was not allowed to return a phone call."
 
2017-07-31 07:36:08 PM  

Antidamascus: I'm seeing a lot of names on my blocked list suddenly popping up in this thread seemingly out of nowhere. Where were these people in frankly any thread in Politics recently?


Praying for literally anything to deviate away from criticism of their lord and savior in the white house. This is what they deemed acceptable.
 
2017-07-31 07:47:27 PM  

fernt: FTFA:

"...ballooning payments for  public employees' guaranteed pension and health benefits for public employees and teachers are the main cause of Connecticut's fiscal misery..."

Same as Illinois:

https://www.illinoispolicy.org/unions-to-bankrupt-chicago-pension-fu​nds/


Koch-funded right-wing propaganda.
 
2017-07-31 07:53:34 PM  

Antidamascus: I'm seeing a lot of names on my blocked list suddenly popping up in this thread seemingly out of nowhere. Where were these people in frankly any thread in Politics recently?


it's almost as if they all spring up at the same time.  as if....  no that, can't be it.
 
2017-07-31 07:56:50 PM  

skozlaw: fernt: FTFA:

"...ballooning payments for  public employees' guaranteed pension and health benefits for public employees and teachers are the main cause of Connecticut's fiscal misery..."

Same as Illinois:

https://www.illinoispolicy.org/unions-to-bankrupt-chicago-pension-fund​s/

Koch-funded right-wing propaganda.


Nice catch.
 
2017-07-31 08:02:11 PM  
It's not the uber- wealthy that refuse to pay taxes.  It's all those greedy teachers!
 
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