Last year, Governor Malloy raised income taxes only on those making less than $1 million. He left the wealthy completely untouched when it came having to pay higher income rates. Last week he reiterated his commitment to no new taxes.
So when it comes to equity, where do we really stand?
In Connecticut, since the mid-1990s (adjusted for inflation);
Income for the wealthiest 20 percent has INCREASED by 17.2%
Income for the middle 20 percent has INCREASED by 2.5%
Income for the poorest 20% has DECREASED by 9.8%
And note that this is post-federal tax income and does include the value of the Earned
