Lamont opening the General Assembly “ The future ain’t what it used to be ” – Yogi Berra The Headline in a CTMirror story, “ CT budget deal includes $600M in tax cuts, extends gas tax holiday ”, includes a telling subtitle: “ But more than half the tax relief is guaranteed for just one year. There’s always a “but” in good journalism raining on someone’s parade. The thrust of the story raises an interesting question: In what sense is “tax relief” a “tax cut”? Many of the “tax cuts” referenced in this and other stories in Connecticut’s media are either temporary tax cuts or tax credits. A temporary tax cut is only a “tax cut” until it elapses, after which it becomes once again a tax increase. And a “tax credit” is not, properly speaking, a tax cut. A tax, almost always permanent, moves money from a taxpayer’s budget to a state or federal treasury. A “tax cut” terminates the movement and leaves disposable assets in the account of the taxpayer. A tax credit retains in publ
go home from us in peace. We seek not your counsel or your arms. Crouch down and lick the hand that feeds you;
may your chains set lightly upon you, and may posterity forget that ye were our countrymen!"
--Samuel Adams