Untold Millions For The Taxman

The Hartford Courant reports:

For decades, Connecticut has collected millions of dollars in estate taxes from a relative handful of individuals, providing a steady revenue stream. Olive Watson's estate alone, for example, paid $12.75 million.

But those estates could become tax free under a proposal by Gov. M. Jodi Rell to phase out the tax over the next five years.

The Democrats, who control the legislature, are not only vehemently opposed to the governor's proposal, they've offered a counter-proposal that heads in the opposite direction. The Democratic-controlled finance committee voted in April to increase the tax by 25 percent on estates over $2 million, leading to a battle royale at the Capitol over the state's tax policies.

Connecticut sure likes the "Willie Sutton" philosophy of taxation:confiscate money from those who have it.