So what you’re telling me, son, is that 2+2=7? This is going to be of incredible use to me up in Hartford – Thank you!
Connecticut’s Republicans are out with an alternative to Malloy’s budget, but given Democrat control of the state, it has zero hope of consideration and isn’t worth discussing. What I did find interesting was the reference to Malloy’s claim that sending $55 to (some) taxpayers would generate 1,000 jobs. So I looked that up and sure enough, that’s what the Democrat dream team claims.
Gov. Dannel P. Malloy’s budget chief says a proposal to give Connecticut taxpayers a modest rebate will create an estimated 1,000 jobs.
Benjamin Barnes appeared Thursday before the General Assembly’s Finance Revenue and Bonding Committee, which is considering Malloy’s proposal to use $155 million of the state’s estimated $505 million budget surplus to provide rebates in September.
The rebates would be $55 for individuals earning less than $200,000 and $110 to joint filers earning less than $400,000.
Barnes says most recipients will likely spend the money on goods and services in Connecticut relatively quickly, creating a “high multiplier effect.” The University of Connecticut has estimated the spending would ultimately generate about 1,000 jobs.
Malloy’s office has estimated it will cost the state about $1.72 million to issue the rebate checks.
Let’s think this through: Malloy can come up with that money either by borrowing it, at taxpayer expense, or shifting spending from one favored group to another. In the case of the latter, the fiscal effect is identical from moving cash from one pocket of your jeans to another: you may feel richer, if you’re very, very stupid (and no one has ever faulted the Democrats for underestimating the intelligence of their voters), but – duh – you aren’t. And if you think that withdrawing $55 from the ATM using a credit card will add $55 to your net worth, you’re still a Democrat, albeit one with access to a line of credit. Sheesh.