There has been much discussion in recent days about Connecticut's competitiveness in taxes and how the state compares with its neighbors.
Gov. Dannel P. Malloy says he proposed raising Connecticut's top income tax rate - for couples with more than $1 million in income - to 6.7 percent because that rate would still be lower than New York State's highest rate when that is lowered to 6.85 percent as scheduled in January 2012.
But the New York Post, which is known for its conservative editorials, says Malloy's proposed increase can only benefit New York State.
"Looks like New York has a new secret weapon in its battle to keep residents and business from fleeing the state,'' the Post editorial states.
"His name is Dannel Malloy -- and he's the new governor of Connecticut. Like his counterparts in the tri-state area, Malloy faces severe economic constraints: a $3.2 billion deficit, amounting to 20 percent of revenue. Unlike Andrew Cuomo and Chris Christie, however, Malloy is tackling his budget shortfall by proposing one of the largest tax hikes in state history on Connecticut's middle class.''
