(WFSB) - Many promises are being made by candidates for governor.

Democrat Ned Lamont wants to lower property taxes, Republican Bob Stefanowski has an even bigger plan to eliminate the state income tax.

On Thursday night, we look at other states that have cut taxes to jumpstart their economies and what some call failed experiments.

Connecticut's economy needs a boost and who wouldn’t want to stop paying income taxes?

But in at least one state, cutting taxes didn't help, it actually made things worse.

Connecticut's next governor, whoever it is, will have tough job ahead.

The state faces billions in deficits and needs more jobs.

"I fundamentally believe that the way we get there is to lower taxes, get the economy moving. It will get more revenues coming in and I am going to use that to fund education and health care,” said Stefanowski.

Stefanowski is promising to get rid of the income tax, the estate tax, and lower the corporate tax.

But if you look at Kansas and Wisconsin, tax cuts have not worked.

David Cadden is an economist and former professor at Quinnipiac University.

"The cuts were so bad and they failed to deliver on the three areas that they promised, which would be increased jobs, increased population and increased disposable income,” said Cadden.

In a number of articles in Forbes Magazine and the Brookings Institute, Kansas' experiment with tax cuts is called a failure.

After the Republican governor reduced income taxes and cut many kinds of business income, the Republican controlled legislature eventually repealed those cuts.

Wisconsin also cut taxes and the results were not as positive as some had predicted.

"They all collapsed. They have devastating in particular areas in Kansas, in particular education,” Cadden said.

Stefanowski says, “before the income tax was instituted in 1991, we had the fastest growing economy in the nation. Now our economic growth is near the bottom of the barrel. It isn't realistic to compare us to an economy which doesn't remotely resemble ours”

Business leaders say they welcome a tax cut, but have concerns about huge deficits CT faces and what the fallout could be.

The CT Business and Industry Association says companies also want better transportation, affordable housing, and a skilled workforce.

"For most business people, they really look at the overall picture here. It’s not just taxes, it's not just affordability, it's a combination of everything," said Joe Brennan, CBIA.

It was nearly 30 years ago that Connecticut instituted an income tax, but at the time the state had the highest sales tax in the country and the corporate tax rate was about twice what it is today.

Copyright 2018 WFSB (Meredith Corporation). All rights reserved.

Digital Content Producer

(1) comment

SaveCTorg

This argument is nonsense. Kansas, a farm state, faced a four year and counting decline in farm income. Connecticut, a finance state, on the other hand enjoyed an 8 year and counting stock market rally. And Kansas still grew faster than Connecticut--proof positive of the ruin wreaked on our state by the Democrats and NedMalloy.

Tennessee is a by far better example. They cut taxes while we raised and they are eliminating their income tax. People moved in, the economy accelerated and tax revenue rose (though rates fell). CT did the opposite and had the opposite result--residents fleeing, the economy contracting in real terms, and falling tax revenue. We need to follow that lead to Save our State.

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