CT gov Malloy at convention

[Jim in CT]

Originally Posted by zimmy

You point out that our higher taxes don't even cover the federal income tax loss. That makes it even clearer that it is hard for CT to compete with Wyoming on that front alone, because even with our taxes twice as high, it still doesn't make up what is lost in federal dollars. So can we now agree that there are too many variables to say the red states do a better job with debt and being tax competetive? By the way, CT is 8th lowest in spending vs gdp. So you can say that the dem's in CT have spent to death, but relative to gdp, it is one of the best. You can say taxes are through the roof, but they are higher to make up for the losses in federal money, which disproportionately go to red states. You started this thread, not me.

"it is hard for CT to compete with Wyoming on that front alone, because even with our taxes twice as high, it still doesn't make up what is lost in federal dollars."

It makes up a LOT of the difference. And as I said, I expect CT tyo get less back than we oay in federal taxes, because much of that goes to places outside of CT, like Washington DC and overseas.

"So can we now agree that there are too many variables to say the red states do a better job with debt and being tax competetive?"

No, I cannot agree to that. Not even Gov Malloy is blaming our debt on the federal tax shift. I've never heard governors of states with big debt claim that is a significant driver of the debt. Forgive me, but the only people I hear making that claim are liberal apologists...

"By the way, CT is 8th lowest in spending vs gdp."

Not according to the Barrons data I posted. Look at the chart in this article...

State of the States - Barrons.com

CT has the 3rd highest debt-to-GDP, just barely behind Mass and Hawaii. And if you include unfunded pensions with traditional debt and look at THAT as a % of GDSP (Also in this chart), CT has the very highest ratio in the nation, and by a huge margin. In the ranking, that % usually only increases by a tenth of a point or two, between states. But when yuo go from the 2nd worst state (IL) to CT, the difference is 0.8 points.

"you can say that the dem's in CT have spent to death, but relative to gdp, it is one of the best"

Not according to this data, and not when you include the benefits given to union workers, which obviously cannot be ignored, right?

"You started this thread"

Yes, I did. And my point (that CT has dismal financial ratings, despite astronomical taxes) still stands.

Zimmy, why isn't Gov Malloy suggesting that the federal tax shift is a large cause of our debt?