From: The Federation of Connecticut Taxpayer
Organizations, Inc. (FCTO)
Contact: Susan Kniep, President
Website: http://ctact.org/
email: fctopresident@aol.com
860-841-8032
October 30, 2008
Please Send to Your
Family, Friends and Business Associates!
Welcome
to Tax Talk 123
POLL RESULTS ARE IN! HARTFORD COURANT ANNOUNCES THAT VOTERS WANT A
CONSTITUTIONAL CONVENTION! KUDOS TO JOHN WOODCOCK FOR HIS HARD WORK IN
THIS CAMPAIGN!
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Poll: Voter Alienation Fuels Backing For
Constitutional Convention
Hartford
Courant, By Mark Pazniokas, October 30, 2008
A new poll
suggests that voter alienation is prompting support for proposed revisions to
the Connecticut
Constitution, not opposition to gay marriage.
Voters favor amending the constitution to allow citizen ballot
initiatives, but they reject the anti-gay-marriage sentiments prominent in
calls for a constitutional convention.
The poll found that 50 percent of voters support a convention to amend the
state constitution and 39 percent are opposed. But 55 percent oppose a
constitutional ban on gay marriage. Continued at the following
website: http://www.courant.com/news/politics/hc-conventionpoll1030.artoct30,0,17562.story?page=1
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VOTERS UNITE. VOTE YES ON NOV 4, 2008.
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Tax Talk 223 Also Includes:
- Stevens Conviction Symptomatic of
Culture of Corruption in Politics
- Sen. Stevens convicted, vows fight
- Another CT Eminent Domain Project: Norwich: Shipping Street
ideas floated
- International Media Focus on
Corruption Allegations
- Greenspan
Says, "Who Could Have Known?"
- Take the Money and Run -
Special-interest money leaks into Connecticut's
first "clean" election
- Finch's Pinch - Bridgeport's City Hall and Police Union are going to war over the mayor's
budget-cutting layoff plan.
- First-Ever Layoffs Loom at Postal
Service
- California high-risk pool for medically
uninsurable helps fewer residents
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There’s little doubt as to who has the best blog in the world – yep, the whole wide world – Judy Aron of West Hartford – and aren’t we lucky – she also
happens to be a Board member of FCTO – way to go Judy – another great news
alert! Visit Judy’s blog often at http://yedies.blogspot.com/ Judy’s email is imjfaron@sbcglobal.net
From Judy: Wednesday,
October 22, 2008
CT Governor M. Jodi Rell Gets An "F" In Fiscal Policy
Sorry Governor Rell ... but the Fiscal
Policy Report Card on America’s Governors: 2008 from the CATO
Institute has just come out, and it isn't looking good for CT.
This fiscal report card examines the tax and spending decisions made by
governors since 2003. It uses statistical data to grade the governors on their
taxing and spending records. Governors who have cut taxes and spending the most
receive the highest grades, while those who have increased taxes and spending
the most receive the lowest grades.
Three governors were awarded an "A" in this report
card – Charlie Crist of Florida,
Mark Sanford of South Carolina, and Joe Manchin of West
Virginia.
Eight governors were awarded an "F" – Martin
O'Malley of Maryland, Ted Kulongoski
of Oregon, Rod Blagojevich of Illinois, Chet Culver of Iowa,
Jon Corzine of New Jersey,
Bob Riley of Alabama, Jodi Rell
of Connecticut, and C. L. "Butch"
Otter of Idaho.
The report said this of CT's Governor:
Jodi Rell of Connecticut has pushed numerous large tax
increases. Her first budget in 2005 proposed increases to
cigarette taxes, gasoline taxes, and business taxes. In 2007 she
proposed raising cigarette taxes and increasing the top individual income tax
rate. Governor Rell’s performance on spending is also
worse than average
....
Governor Rell’s fiscal record features numerous large
tax increases. Rell’s first budget proposed increases in cigarette taxes, gasoline
taxes, and various business taxes. In 2007 she proposed raising the
cigarette tax from $1.51 to $2.00 per pack and increasing the top personal
income tax rate from 5.0 percent to 5.5 percent.
Luckily for taxpayers, the income tax part of her plan did
not pass the legislature.
On spending, Governor Rell has
usually proposed substantial increases, and in 2007 she proposed skirting a
state budget cap to spend more than was allowed under normal rules.
Unfortunately, they don't mention anything about the
legislature she's had to deal with. But anyway, at least on the bright side it
seems there is no where to go but up on this score. Closing the budget gap could be a start.
And here are two other interesting findings:
• Republican governors did slightly better in the report card than Democrats,
with an average score of 55 compared to an average for the Democrats of 46.
• Republican governors scored better, on average, than Democratic governors on
spending (54 to 48), revenue changes (58 to 44), and tax rates (51 to 48). But
those are just averages with many exceptions— Democrat Joe Manchin,
for example, has enacted probably the most pro-growth tax reforms of any
governor. http://yedies.blogspot.com/2008/10/ct-governor-m-jodi-rell-gets-f-in.html
Here is the full report
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INVITATION
TO ATTEND
Attorney General John Ashcroft:
Leadership in Challenging Times,
Thursday, October 30, 7:10 pm,
Sterling Law
Building, Levinson Auditorium
Yale Law School, 127 Wall Street,
New Haven, Ct
The Yale Federalist Society will be hosting the inaugural
lecture in their Irving Brown Lecture series: "Leadership in
Challenging Times". John
Ashcroft served as the 79th Attorney General of the United States from
January, 2001 - February, 2005 under President George W. Bush, following seven
years as a U.S. Senator from Missouri and nine years as Governor of Missouri.
Prior to entering government service, Attorney General Ashcroft, a graduate of
Yale College and the University of Chicago law school, taught business law at
Southwest Missouri State University in Springfield, MO. Based on his
experiences as Attorney General during the three years following the 9/11
attacks, Attorney General Ashcroft will reflect on the responsibilities of
those in public service during challenging spans in our nation's history. (We are expecting a large crowd, so please
plan to arrive early.) Brian Freeman
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Uses for $700 billion
bailout money ever shifting
By Associated Press, Saturday, October 25, 2008 - Added 4d
10h ago
WASHINGTON - First, the $700 billion rescue for the economy
was about buying devalued mortgage-backed securities from tottering banks to
unclog frozen credit markets. Then
it was about using $250 billion of it to buy stakes in banks. The idea was that
banks would use the money to start making loans again. But reports surfaced that bankers might
instead use the money to buy other banks, pay dividends, give employees a raise
and executives a bonus, or just sit on it. Insurance companies now want a
piece; maybe automakers, too, even though Congress has approved $25 billion in
low-interest loans for them. http://www.bostonherald.com/business/general/view/2008_10_25_Uses_for__700_billion_bailout_money_ever_shifting/
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Spending Stalls and
Businesses Slash U.S.
Jobs New York Times, Oct 27, 2008 Layoffs have arrived in force, like a
wrenching second act in the unfolding crisis. In just the last two weeks, the
list of companies announcing their intention to cut workers has read like a
Who’s Who of corporate America: Merck,
Yahoo,
General
Electric, Xerox,
Pratt & Whitney, Goldman Sachs, Whirlpool,
Bank
of America, Alcoa,
Coca-Cola,
the Detroit automakers and nearly all the
airlines.
When October’s job losses are announced on Nov. 7, three
days after the presidential election, many economists expect the number to
exceed 200,000. The current unemployment rate of 6.1 percent is likely to rise,
perhaps significantly.
“My view is that it will be near 8 or 8.5 percent by the end
of next year,” said Nigel Gault, chief domestic
economist at Global Insight, offering a forecast others share. That would be
the highest unemployment rate since the deep recession of the early 1980s.
Continued …. http://www.nytimes.com/2008/10/26/business/26layoffs.html?_r=1&partner=rssnyt&emc=rss&oref=slog
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Richard Viguerie: Stevens Conviction Symptomatic of Culture of
Corruption in Politics
Last update: 7:43 p.m. EDT Oct. 27, 2008, MANASSAS, Va., Oct
27, 2008 /PRNewswire-USNewswire via COMTEX/ -- The
conviction of Senator Ted Stevens, the senior Republican in the U.S. Senate, is
"just a symptom of the corruption that has infected Republicans and
Democrats alike," Richard A. Viguerie, Chairman
of ConservativeHQ.com, said.
"That infection is spreading through Washington and all
of American politics, from the houses of Congress to the courthouses," Viguerie said.
"Sometimes, as in the ethanol subsidy program or in the
bailout of Wall Street millionaires, the level of corruption is so large that
it's hard for the mind to grasp. It's like an Enron a day," he said.
Continued http://www.marketwatch.com/news/story/richard-viguerie-stevens-conviction-symptomatic/story.aspx?guid=%7B8BF5A5AE-E834-43AF-ACD4-E9DA6C1F76BF%7D&dist=hppr
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Sen. Stevens convicted, vows fight
By Matt Kelley,
USA
TODAY, Oct 27. 2008
WASHINGTON — Sen. Ted Stevens was found guilty Monday on
seven counts of concealing more than $250,000 in gifts from wealthy friends —
becoming the fifth U.S. senator ever to be convicted of a crime. The verdict comes about a week before
Alaska's voters will decide whether to re-elect the Republican senator to an
eighth term and at a time when his party is fighting to stem its losses in a
tough year. …. The jury found Stevens guilty of all seven counts of lying on
his Senate financial disclosure forms by omitting more than $250,000 in gifts,
most of them from Bill Allen, the former head of an Alaska oilfield services company, Veco. Continued … http://www.usatoday.com/news/washington/2008-10-27-stevensverdict_N.htm?csp=34
Click the following to read….
SENATORS IN HISTORY: 11 indicted, 5
convicted
NO APOLOGIES: Stevens not
afraid to show his status
Citizens Against Government Waste, a non-partisan watchdog group,
estimated that Stevens has funneled more than $3.5 billion worth of federally
funded projects to Alaska.
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Another Connecticut Eminent
Domain Project…..
Norwich: Shipping Street
ideas floated
Land owners, public
invited into process
By MICHAEL GANNON, Norwich Bulletin, Posted
Oct 28, 2008 @ 01:00 AM
The land between West Thames Street
and the Thames River consists largely of old or empty
industrial buildings, along with a few pockets of housing. On Monday, the
Norwich Redevelopment Agency began the process of showing what it could be like
with parks, restaurants and recreation.
The group discussed an outline for what now is being called the Shipping Street
Waterfront Redevelopment Study, which would bring the city, property owners and
the public into the process of remaking the area…. Some of the land is owned by
the city, and some could be subject to purchase via eminent domain. But Marien cautioned land owners not to panic, particularly so
early in the process. http://www.norwichbulletin.com/news/x398383722/Norwich-Shipping-Street-ideas-floated
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International Media
Focus on Corruption Allegations Venues
range from United Nations to courtrooms in Asia, South Africa, and United States -
Allegations of graft figured in several stories from the international
media last week. Click to read http://www.globalethics.org/newsline/2008/10/27/international-corruption/
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Greenspan
Says, "Who Could Have Known?"
Monday 27 October
2008, by: Dean Baker, t r u t h o u t | Perspective 
That's
right, the former Maestro told Congress last week, when asked about the
meltdown of the housing bubble and the resulting financial crisis, "we're
not smart enough as people. We just cannot see events
that far in advance." Unfortunately, this sentence is even
worse in context. Greenspan told the committee about the brilliant economists
on staff at the Federal Reserve Board. His point was that if this group could
not see the housing bubble, and the risks it posed to the economy, then it was
not humanly possible to see it.
The reality is that it was possible - in fact,
easy - to recognize the housing bubble as early as the summer
of 2002. House prices nationwide had substantially outpaced inflation
in the years since 1996 (coinciding with the stock bubble) after just tracking
the rate of inflation for the prior hundred years. There was nothing in the
fundamentals of supply or demand that could explain this run-up. Continued ….
http://www.truthout.org/102708B
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Take the Money and Run - Special-interest money leaks
into Connecticut's
first "clean" election
Hartford Advocate, October 23, 2008, By Andy Bromage
Money in politics
is like water: It'll always find its way in.
So why should we be surprised to learn that powerful labor
unions and deep-pocketed campaign donors are funneling tens of thousands of
dollars into Connecticut's first-ever publicly-funded election? Reformers are crowing about the early success
of the Citizens' Election Program, the centerpiece of the 2006 campaign finance
reform law, which gives taxpayer-funded cash to candidates who agree to
spending limits. The law is an outgrowth of the corruption scandals that jailed
former Gov. John Rowland and a host of state officials and aims to level the
playing field between powerful incumbents and grassroots challengers in the
General Assembly. Two weeks before election day,
supporters are already declaring it a success.
Continued at the following website:
http://www.hartfordadvocate.com/article.cfm?aid=10225
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Finch's Pinch - Bridgeport's City Hall and Police Union
are going to war over the mayor's budget-cutting layoff plan. Thursday,
Hartford
Advocate, October 16, 2008, By
Chandra Niles Folsom
After a state
Freedom of Information law forced Bridgeport Mayor Bill Finch to release his
initial list of city layoffs, the curtain that shielded City Hall from the
public fell to the ground. Continued … http://www.hartfordadvocate.com/article.cfm?aid=10072
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First-Ever Layoffs
Loom at Postal Service — David Yao
The U.S. Postal
Service faces a serious financial shortfall that is accelerating reductions in
its workforce and raising the possibility of the first-ever layoffs of career
employees. Reduced mail volume, rising
costs, and a newly enacted cap on rate increases all have taken a toll on the
Postal Service’s finances. A gradual shift to electronic communications and
bill payment is shrinking the number of first-class letters, a mainstay of
postal revenues. And the current economic downturn has led to drops in
advertising mail volume. Continued… http://labornotes.org/node/1947
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California high-risk pool
for medically uninsurable helps fewer residents
A $75,000 benefit
cap, high deductible and costly premiums make the program unavailable,
ineffective or unaffordable for many. Gov. Arnold Schwarzenegger recently
vetoed a bill to expand the pool. By Jordan Rau October 28, 2008, LA Times -
Reporting from Sacramento -- Dave Dunlap is a Kern County
trucker with a failing liver. Like about 600,000 Californians, he is too sick
to qualify for private insurance on the open market. http://www.latimes.com/news/local/la-me-uninsured28-2008oct28,0,5521180.story?track=rss
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