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Please note that if you have received more than one copy of this email publication, wish to be removed from FCTO's email list, or add a friend, please notify FCTO at fctopresident@aol

Please note that if you have received more than one copy of this email publication, wish to be removed from FCTO's email list, or add a friend, please notify FCTO at fctopresident@aol.com.    Thank you.

 

Connecticut Transparency Website

 

 

Senate plan would deport illegal immigrants entering U.S. after 2011

 

Nassi Pleads Guilty; Donovan Says He’s ‘Disappointed’

 

 

Clash Over Who Pays Their Fair Share

A report released Friday by New Haven-based Connecticut Voices For Children says that the poor and the middle class in Connecticut pay a higher percentage of their income in state and local taxes than the rich….. But the conservative-leaning Yankee Institute for Public Policy says that the rich are putting the most money and the largest share into state coffers. http://www.courant.com/news/connecticut/hc-tax-report-0413-20130412-1,0,5591103.story

 

 

 

April 13, 2013

 

 

From:  The Federation of Connecticut Taxpayer Organizations
Contact:  Susan Kniep, President
Website:
http://ctact.org/
Email:
fctopresident@aol.com
Telephone: 860-841-8032

 

 

Check out Below:  Blumenthal Criticized for Using Sandy Hook Victims to Raise Campaign Cash, Donovan Campaign Manager Pleads Guilty, Comptroller Lembo Provides Transparency, Some Mass and CT State Employee Pensions are Exorbitant, See for Yourself, Many State Changes to Municipal Revenue Collection Laws, Gun Manufacturer Leaving CT,  Obama Budget Good and Bad for CT, Senate Plan would Deport Illegals Entering US after 2011, Obama Pays 18.4% Fed Inc Taxes, Donates Big to Charity, The Pension Rate-of-Return Fantasy

 

 

EDITORIAL: Blumenthal uses Sandy Hook to raise campaign cash

 

The Register Citizen April 11, 2013

 

We’re glad that U.S. Sen. Chris Murphy and Gov. Dannel Malloy are talking in detail about the victims of Sandy Hook as part of a push for federal gun control legislation……The issue took a disgusting political turn on Thursday, though, when U.S. Sen. Richard Blumenthal, D-Conn., used Sandy Hook to raise money. The money is not for one of the relief funds set up to help victims’ families, or to fund mental health services, or to support autism research.  “In the wake of the horror of the December 14, 2012, massacre of 20 beautiful children and 6 dedicated educators,” Blumenthal is asking supporters to send money to his 2016 re-election campaign!   “As your senator, I will continue fighting for the rights of all the people, not the special interests. But I need your help,” Blumenthal wrote in an email to supporters Thursday morning. “Please contribute $5 now as the Senate debate continues on common-sense gun reform legislation this week.”   There are lots of ways and lots of time for Sen. Blumenthal to raise money for his re-election campaign before 2016. Using the “horror” of the “massacre of 20 beautiful children” at a time when critical legislation honoring their memory is at stake to beg for $5 for your next political campaign is as tasteless as it gets.  Read this complete article at

http://www.registercitizen.com/articles/2013/04/11/opinion/doc516725387b85b464375924.txt?viewmode=fullstory

 

 

 

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The Federation Applauds State Comptroller Kevin Lembo for Providing Greater Transparency for CT Residents as noted below….. 

 

 

COMPTROLLER LEMBO APPLAUDS FINANCE COMMITTEE VOTE TO ADVANCE TRANSPARENCY IN ECONOMIC ASSISTANCE

 

 

 

Comptroller Kevin Lembo commended the General Assembly’s Finance Committee for voting today in favor of his proposed legislation that will establish greater  transparency  surrounding the hundreds of millions in dollars invested every year in economic assistance programs.  Lembo said this action follows several weeks of negotiations with representatives from  both  within and outside of government, particularly representatives of the business community, in an effort to find common ground on this initiative.   House Bill 6566, An Act Concerning Transparency in Economic Assistance Programs, would establish a publicly accessible online database for information on state tax credit and economic assistance programs, and

lay the framework for the state to plan to conduct tax incidence analysis reports

to determine the impact of the state’s tax policies throughout Connecticut…… 

Specifically, this bill will create a searchable database where the public can simply and easily perform searches to answer the questions: 

 

Ø      W hat industries are receiving economic incentives?

Ø      How much they are receiving ?

Ø      What are the conditions of  the assistance ?

Ø      What are the results of the state’s investment in terms of jobs, economic impact and state revenue ?

 

Read the article in its entirety at  http://www.osc.ct.gov/public/pressrl/2013/FinanceCommitteeApprovesTransparency.pdf

 

 

 

 

COMPTROLLER LEMBO LAUNCHES “OPEN CONNECTICUT,” ONLINE HUB FOR STATE FINANCIAL DATA AND TRANSPARENCY

 

Comptroller Kevin Lembo today launched a new website called “Open Connecticut” that centralizes state financial data and simplifies  access to important information about the state budget and its financial future.   Open Connecticut is accessible at www.osc.ct.gov/openct   “It’s your money, and you have a right to know,” Lembo said. “That’s the simple message  behind Open Connecticut.  “Pockets of state financial information have long been available, but scattered across state agencies. Those who actually have the time to locate information often discover the next  difficult step – understanding the information.  Continue reading Mr. Lembo’s comments at http://www.osc.ct.gov/public/pressrl/2013/Open%20Connecticut.pdf

 

 

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The following is not isolated to Massachusetts. 

Check out Connecticut State Pensions Below!

 

Under 50 and grabbing state pensions Boston Herald ‎- April 10, 2013  By: Erin Smith , Chris Cassidy Hundreds of lucky state employees are opting to jump into retirement before they hit age 50 thanks to loopholes in the law, a Herald review of the latest pension report shows. In the past three years, there have been 475 state workers who retired before age 50 — going into their golden years with full pensions for some and partial payouts for others, a Herald review found. New reforms went into effect for state workers hired after April 2, 2012. Those reforms included increasing the retirement age for new hires and an “anti-spiking” clause preventing future retirees from padding the salary their pension is based on in their final few years of employment.   Continue reading at …… http://bostonherald.com/news_opinion/local_coverage/2013/04/under_50_and_grabbing_state_pensions

 

Massachusetts State Pensions:  Click here for the complete pension database in the Herald's "Your Tax Dollars at Work" report

Connecticut State Pensions:   Click Pensions  In 2012, payments were made to 46,124 retirees or beneficiaries totaling over $1.47 billion.

Connecticut Wages and Benefits:  Click  Employee Compensation Note:  Above the Seach Button Click Advanced Search to access more information.

 

And Research Much More at the Connecticut Transparency Website 

 

 

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From the State of Connecticut’s Office of Legislative Research

 

PLANNING AND DEVELOPMENT COMMITTEE BILLS REFERRED TO THE FINANCE, REVENUE AND BONDING COMMITTEE

 

Includes the following:

SB 965 – AN ACT CONCERNING CHANGES TO MUNICIPAL REVENUE COLLECTION STATUTES

12. allows municipalities and district health departments to withhold or revoke a business license or permit if the business owes taxes on any property, not just personal property, it owns or uses (§ 24);

13. allows a tax collector or his or her agent to sell a taxpayer's real or personal property without making a personal or written demand for the payment if the tax assessor, after making reasonable efforts, is unable to identify the owner or person responsible for the delinquent taxes or charges (§ 29);  Read more at http://www.cga.ct.gov/2013/rpt/2013-R-0208.htm

 

 

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Statement From Gun Manufacturer, PTR Industries: Leaving ... Connecticut Citing New Gun Laws By Susan Duclos April 10, 2013 Recently two companies, Magpul, which manufactures guns and HiViz Shooting Systems, which makes sights, recoil pads and other accessories, announced they were leaving the state of Colorado. Both citing the passage of new gun control laws. Both taking jobs, revenue and money out of the Colorado economy and bringing them to a state without restrictive gun control laws.  States like Wyoming are opening their arms and inviting these companies to move to a more gun friendly state.  "Move to the Cowboy State," says Wyoming lawmakers. Another gun manufacturer is now following their example, this one in Connecticut, and is citing the same reasons. PTR Industries announces, via their Facebook page as well as the PTR Industries website, that they will be "actively considering offers from states that are friendly to the industry."  "The rights of the citizens of CT have been trampled upon. The safety of its children is at best questionably improved from the day of the tragedy that triggered the events that lead us here," said officials at PTR Industries in a statement on their website. "Finally, due to an improperly drafted bill, manufacturing of modern sporting rifles in the state of CT has been effectively outlawed. With a heavy heart but a clear mind, we have been forced to decide that our business can no longer survive in Connecticut - the former Constitution state."  PTR Industries owner Josh Fiorini also states he wants to move out before the new law goes into place Jan. 1. Continue reading this article at http://beforeitsnews.com/opinion-conservative/2013/04/statement-from-gun-manufacturer-ptr-industries-leaving-connecticut-citing-new-gun-laws-2617084.html

 
 

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Obama budget has good, bad for Connecticut   Wed, 04/10/2013 By Ana Radelat   CTMirror.org For Connecticut's defense contractors, the good news in President Obama's 2014 budget is it would end the sequester's $500 billion cut to the Pentagon's budget. In his budget, Obama has indicated new support for the  F-35 Joint Strike Fighter, whose engines are built by Pratt & Whitney in East Hartford. But the bad news for the state's defense industry is that  the president proposes another round of base closings, which would have to be approved by Congress. Connecticut's aging population would be affected by the president's proposal  to slow the growth in Social Security benefits by applying a less-generous measure of inflation. Continue reading at ….. http://www.ctmirror.org/blogs/obama-budget-has-good-bad-connecticut

 

 

 

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Obamas Pay 18.4% Federal Income Taxes, Donate Big to Charity ... The White House has released 2012 tax information for the President and Vice President.  The President and First Lady filed a joint return reporting adjusted gross income of $608,611. They paid $112,214 in taxes for an effective federal income tax rate of 18.4 percent and donated $150,034 to charity (about 24.6 percent of their earnings). http://money-news.net/?p=14385

 

 

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Andy Kessler: The Pension Rate-of-Return Fantasy - WSJ.com Mr. Kessler, a former hedge-fund manager, is the author most recently of "Eat People" (Portfolio, 2011). Counting on 7.5% when Treasury bonds are paying 1.74%? That's going to cost taxpayers billions.  Wall St. Journal April 9, 2013 It has been said that an actuary is someone who really wanted to be an accountant but didn't have the personality for it. See who's laughing now. Things are starting to get very interesting, actuarially-speaking.  Federal bankruptcy judge Christopher Klein ruled on April 1 that Stockton, Calif., can file for bankruptcy via Chapter 9 (Chapter 11's ugly cousin). The ruling may start the actuarial dominoes falling across the country, because Stockton's predicament stems from financial assumptions that are hardly restricted to one improvident California municipality.  Stockton may expose the little-known but biggest lie in global finance: pension funds' expected rate of return. It turns out that the California Public Employees' Retirement System, or Calpers, is Stockton's largest creditor and is owed some $900 million. But in the likelihood that U.S. bankruptcy law trumps California pension law, Calpers might not ever be fully repaid. So what? Calpers has $255 billion in assets to cover present and future pension obligations for its 1.6 million members. Yes, but . . . in March, Calpers Chief Actuary Alan Milligan published a report suggesting that various state employee and school pension funds are only 62%-68% funded 10 years out and only 79%-86% funded 30 years out. Mr. Milligan then proposed—and Calpers approved—raising state employer contributions to the pension fund by 50% over the next six years to return to full funding. That is money these towns and school systems don't really have. Even with the fee raise, the goal of being fully funded is wishful thinking.  Continue reading at http://online.wsj.com/article/SB10001424127887324100904578403213835796062.html

 

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