Democrats Embrace Tax Exemption Without A Clear Path To Pay For It

[TexasTowelie]

HARTFORD, CT—Admitting they have no idea how they are going to pay for it, Senate and House Democrats said Thursday that they want to exempt Social Security income from Connecticut’s income tax.

The exemption will cost the state an estimated $45 million in revenue, but it will have other benefits and make Connecticut more attractive to retirees, Democratic lawmakers said Thursday at a Legislative Office Building press conference.

Senate President Martin Looney, D-New Haven, joked that when the state is done with the “Still Revolutionary” slogan they can change it to “Connecticut, a great place to live and a great place to die.”

Looney also has a proposal to bring the Connecticut estate tax in line with the federal estate tax.

Read more: http://www.ctnewsjunkie.com/archives/entry/democrats_embrace_tax_exemption_without_a_clear_path_to_pay_for_it/

[PoindexterOglethorpe]

1. It would be really nice if Social Security were exempt

from income taxes everywhere. Unfortunately, a lot of states include SS income when calculating a person's income tax. So now they're dependent on it. Too bad.