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David Walker on Tax Reform
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2007: higher taxes needed; 2018: not so much
[In 2007], the Wall Street Journal at the time called him a "Chicken Little" who called for higher taxes and a reduction in benefits. Walker still wants Connecticut's public unions to submit to benefit cuts. But higher taxes in 2018? Not so much.
The Republican mantra this year is to cut spending across the board, for starters, then somehow reduce the tax burden.The communications director for state Democrats said she's not surprised by Walker's walking back his tax stance 11 years later.
Source: CT Post on 2018 Connecticut gubernatorial race
, May 5, 2018
No retroactive tax increases; reduce relative tax burdens
Connecticut has high tax burdens and has the latest Tax Freedom Date of any state in the union. The state relies too heavily on conventional taxes and has resorted to huge retroactive tax increases in recent years.
We must not increase the overall level of taxation in Connecticut and we need to take steps to reduce relative tax burdens over time.
To do so, Connecticut must engage in comprehensive tax reform that promotes growth and recognizes the economic and demographic realities in the state as well as the competitive challenges facing our state.
This includes exploring user fees versus taxes, and considering privatization of activities that can be performed better and more cost-effectively by the non-profit or private sectors.
Source: 2014 CT Lt. Gubernatorial campaign website, WalkerForCT.com
, Jul 2, 2014
Make effective tax rates progressive, not marginal tax rates
Q: What is your opinion on making taxes more progressive?A: Are we talking about the effective tax rate?
Q: Most people mean a progressive marginal tax rate, where high-income earners have a much higher tax rate for their top marginal earnings than
do low-income earners.
A: I am FOR making the EFFECTIVE tax rates more progressive, but I'm against making MARGINAL tax rates more progressive. Like a Reagan-style reform. Our current tax system is an abomination--
it needs to be simpler, fairer, and more competitive. And we need to broaden the base--fewer and better targeted tax preferences bring top marginal tax rates down to 25% for corporations as well as estate taxes and individuals.
We should eliminate the differences with capital gains and ordinary income like Reagan did. So the bottom line marginal rates would go down but the effective rate would go up for the wealthy.
Source: Phone interview on presidential race with OnTheIssues.org
, Mar 30, 2012
Broaden base; make top rate 25%; make capital gains 25%
Q: You propose bringing "top marginal tax rates down to 25% for corporations as well as estate taxes and individuals" and also that "we should eliminate the differences with capital gains." In other words, you're proposing an increase in the capital
gains tax rate from its current 15%?A: Yes, up to 25%. But we've got to get more people paying and less people taking a free ride--that's dangerous in a democracy. This proposal would also eliminate the need for the Buffett Rule.
Q: By the "Buffett
Rule," you mean Obama's proposal that the top 1% of income earners, such as Warren Buffett, pay a surtax so that their marginal tax rate isn't lower than the bottom 99% of income earners, such as Warren Buffett's secretary?
A: Yes; eliminating the differences with capital gains tax rates would eliminate the need for the Buffett Rule.
Source: Phone interview on presidential race with OnTheIssues.org
, Mar 30, 2012
Page last updated: Sep 22, 2018