As a result of Governor Malloy’s gimmick ridden state budget, the candidate who wins the 2014 gubernatorial election will take office facing a projected state budget deficit of $1.3 billion or more.
By using one-time revenues for on-going expenses, purposefully under-funding various government programs and utilizing a series of budget gimmicks, the new 2014-2015 state budget is just about as irresponsible as they come.
The moment Malloy signs it into law he will be creating a budget deficit for this year and a catastrophe in the budget that will follow.
But as irresponsible as Malloy’s latest budget is, nothing compares to the damage that will come with his recent “NO TAX” pledge should he be elected to a second term. Malloy sealed his fate when he recently told reporters that he would, “neither seek nor accept any further tax increases” in a second term.
Pandering to phantom voters, Malloy has engaged in a George Bush “read my lips” moment.
By making an “ironclad” NO TAX increase pledge, Malloy joins the Republican candidates in assuring that the people of Connecticut must live with a tax system that crushes the middle class while coddling the rich.
As Malloy knows, Connecticut’s middle income families pay about 10 percent of their income in state and local taxes, the poor pay about 12 percent and the rich pay about 6 percent of their income in state and local taxes.
Instead of pledging to be fiscally responsible or even pledging not to increase taxes on middle-income families, Malloy has made it clear that he will continue to protect the rich, even if it comes at everyone else’s expense.
Perhaps the Governor wants Connecticut taxpayers to forget that his 2011 $1.5 billion tax increase raised the income tax rate for middle-income families while those making more than $1 million saw no increase in their income tax rate at all.
Malloy’s pledge will to protect Connecticut’s wealthy will have devastating consequences should he win in November.
The harsh reality is that as result of Governor Malloy’s failure to properly fund public education, the one thing we know about a NO TAX pledge at the state level is that it will lead to higher local property taxes and that will create a tax structure that is even more regressive.
Malloy’s irresponsible promise on taxes not only means Connecticut’s wealthy will get richer while failing to pay their fair share, but it will force our state government to further abdicate its responsibilities.
Even the most rosy revenue estimates or dreams of a renewed economy will not provide the revenue necessary to maintain vital state services during a 2nd Malloy term.
As noted, four more years of inadequate state funding for education will mean higher property taxes and reduced resources to provide Connecticut’s children with the knowledge and skills needed to succeed.
Four more years of inadequate funding for Connecticut public colleges and universities will shift even more of the costs on to students and parents and will prevent many from even getting the college education they need to lead fuller lives, be self-sufficient and help build our economy.
Four more years of inadequate funding will undermine Connecticut health and human service programs, pushing some of the state’s hospital out of business and leaving many Connecticut citizens without the vital services they need.
Four more years of inadequate funding will devastate state agencies that are already understaffed and will, yet again, unfairly target state employees.
And perhaps most importantly, four more years of inadequate funding will prevent the state of Connecticut from confronting and reducing the overwhelming debt that Malloy and previous governors have built up – that being a maxed out state credit card, insufficient funding of the state and teacher pension funds and insufficient reserves to pay for the state health care retiree accounts.
While many in Connecticut were already questioning Dannel Malloy’s priorities and legacy, his “no tax” pledge ensures that his place in history will be that of just another politician who put his own political aspirations ahead off what was best for the state of Connecticut and its citizens.