The increase in tax on the wealthy in Connecticut
Has not had the result of losing jobs for the state.
The jobless rate is now at
8.1% after a sharp drop down.
The Governor Dannel Malloy in the last couple of years has increased taxes against the snobbery and retorts of the Governor Christie of New Jersey's recommendations.
The New Jersey unemployment rate is at 9.6%. Other states that follow the Christie "No new tax" jargon and have a low tax rate are doing poorly such as Mississippi at 9%.
A positive note is a higher tax state like Massachusetts at 6%.
New investments in Connecticut
In areas such as the new 3 year, higher education system improvements are proof that it is working. This is directly due to the tax increase that the Governor got.
The Connecticut governor recently stated that: “As a result of that, the Jackson Laboratory, a renowned research facility based in Bar Harbor, Maine, has made a commitment to invest in a genome project on the Farmington campus”.
The Governor, this past winter, mentioned that the Small Business Revolving Loan Fund administered by the Department of Economic and Community Development gave out the 10 year loan at a 4% interest rate starting a year after initiation for the company to have growth. They will be starting with 20 new employees in good jobs.
This is typical of what is happening in Connecticut as far as taxes increased and jobs coming into the state.
The Governor testified
This past winter to the General Assembly’s Education Committee.
It was to keep a strong hold on his idea of legislation he proposed to restore Connecticut’s education system. He wants it to be a national model of excellence designed to help advance an economic revival for the state.
Connecticut's Governor Dannel P. Malloy said:
“For the sake of our state’s economic competitiveness – if we are to continue to make strides and create jobs in this state as we have over the last 14 months – it is imperative that we transform the public system in which our students learn and prepare for college and a career.”