The middle classes in Connecticut have had their Connecticut income tax rates increased by 10% to 34%; however, the wealthy whose incomes exceed $500,000 annually only experienced a 3% increase in their Connecticut income tax rate for their millions of taxable incomes in excess of $500,000.
The average S&P CEO’s compensation last year was approximately $12 million. Many of these CEOs live in Fairfield County, from where Governor Dannell Malloy originates. If these very same CEOs experienced the same rate of tax increase on their highest marginal tax rate as individuals with taxable incomes of $250,001, they would be paying an additional $230,000 in Connecticut income taxes.
If you wish to have the wealthy pay their fair share of income taxes, then click on the link below to sign the petition protesting Connecticut Governor Dan Malloy’s recent tax bill burdening the middle class citizens of Connecticut, Senate Bill No. 1239: