Connecticut to divest $30M in gun stocks in effort to shape gun control debate

[Coyote33]

Connecticut to divest $30M in gun stocks in effort to shape gun control debate

Connecticut to divest $30M in gun stocks in effort to shape gun control debate

State Treasurer Shawn Wooden, whose cousin was shot and killed in Hartford seven years ago, unveiled a sweeping initiative Tuesday that seeks to promote gun control through investment policy. Woode…

www.courant.com

 

[CrackPot]

further proof that the dims dont understand finance, wall street, profit, motivation...

 

[mikeyp]

Where are they getting the money from? If it makes a profit, does it go back to the taxpayers? Doesn't sound legal that the .gov could take money and invest in stocks, not that they'd care about legality...

 

[CrackPot]

Where are they getting the money from? If it makes a profit, does it go back to the taxpayers? Doesn't sound legal that the .gov could take money and invest in stocks, not that they'd care about legality...

LOTS of funds besides the general fund that have money in them that does not get spent regularly, often, this year, etc. All the money for the save the whales license plates, the fund for licensed contractors, pension funds, etc. Lots of money that is earmarked for specific purposes that needs to be invested until it is needed. I guess they could just put it under someone's mattress...

 

[Waher]

Meanwhile they continue to subsidize Colt's remaining manufacturing plant.

Colt and Ruger need to leave CT. Even the NSSF should move their offices to different state. Deny every dime to CT.

LOTS of funds besides the general fund that have money in them that does not get spent regularly, often, this year, etc. All the money for the save the whales license plates, the fund for licensed contractors, pension funds, etc. Lots of money that is earmarked for specific purposes that needs to be invested until it is needed. I guess they could just put it under someone's mattress...

CT spends every penny it takes in and then some. It's why they've had multi-billion dollar deficits and 11th hour tax raises every single year with a perpetual budget crisis. They don't have the cash to do this and will jack up taxes to pay for it at the end of the year.

 

[CrackPot]

CT spends ever penny it takes in and then some. It's why they've had multi-billion dollar deficits and 11th hour tax raises every single year with a perpetual budget crisis. They don't have the cash to do this and will jack up taxes to pay for it at the end of the year.

Missing the point. Taxes tend to go into the general fund which pays for general expenses and they never run a surplus. Other funding sources are moved into specific funds earmarked (by law) for specific and limited purposes. No matter how much of a deficit you run in the general fund, you cant take money out of the Mickey Mouse fund to cover general expenses. The Mickey Mouse fund can only be used to send elected officials to Disney World.

Since people only visit Disney World every 5 years, you invest your Mickey Mouse fund funds until you need them.

I live in a small town and we have 10s of different funds that have limited specific purposes. The John Q Smith fund to be used to pay for one $500 scholarship to the graduating senior with the most common last name to make up an absurd example. Any fund like this has essentially a large principal that never gets touched and the proceeds get used for some specific purpose. The principal is invested. The fund is controlled by the government who is limited in its use to its stated purpose.

You can donate $1B to your local government and tell them what it can be used for. They manage the money and spend it within your stated purpose. A lot of funds like this got setup in people's wills. The town/state will go to probate occasionally to get terms modified as the original purpose no longer is legal/makes-sense/is-possible, etc. A fund for white boys to go to KKK training in the Republic of Texas, for example, would have multiple issues honoring.

All said, the government has LOTS of money to invest that they cant use for raise and appropriate items like the general fund.

While this is not civics 101, its not more than civics 201.

 

[SFC13557]

Missing the point. Taxes tend to go into the general fund which pays for general expenses and they never run a surplus. Other funding sources are moved into specific funds earmarked (by law) for specific and limited purposes. No matter how much of a deficit you run in the general fund, you cant take money out of the Mickey Mouse fund to cover general expenses. The Mickey Mouse fund can only be used to send elected officials to Disney World.

Since people only visit Disney World every 5 years, you invest your Mickey Mouse fund funds until you need them.

I live in a small town and we have 10s of different funds that have limited specific purposes. The John Q Smith fund to be used to pay for one $500 scholarship to the graduating senior with the most common last name to make up an absurd example. Any fund like this has essentially a large principal that never gets touched and the proceeds get used for some specific purpose. The principal is invested. The fund is controlled by the government who is limited in its use to its stated purpose.

You can donate $1B to your local government and tell them what it can be used for. They manage the money and spend it within your stated purpose. A lot of funds like this got setup in people's wills. The town/state will go to probate occasionally to get terms modified as the original purpose no longer is legal/makes-sense/is-possible, etc. A fund for white boys to go to KKK training in the Republic of Texas, for example, would have multiple issues honoring.

All said, the government has LOTS of money to invest that they cant use for raise and appropriate items like the general fund.

While this is not civics 101, its not more than civics 201.

and CT. is going broke because of it's unfunded public employee pension funds. Great move by the dimwitted State officials trying to be woke. How many more business's and residents will move from CT. to more tax friendly States before the State figures this out? NEVER!

 

[Broc]

Meanwhile they continue to subsidize Colt's remaining manufacturing plant.

Colt and Ruger need to leave CT. Even the NSSF should move their offices to different state. Deny every dime to CT.



CT spends every penny it takes in and then some. It's why they've had multi-billion dollar deficits and 11th hour tax raises every single year with a perpetual budget crisis. They don't have the cash to do this and will jack up taxes to pay for it at the end of the year.

Lyman should also move out. They hire 90 people in CT, but now that they bought Mark7 out of Fort Lauderdale, they should relocated the operation there. Relocate all 90 employees there, get a tax break, pay them the CT equivalent in Florida (like 20-30% less), but keep charging the same products. Profit.

Screw CT and all their BS. That place is such a dump.

and CT. is going broke because of it's unfunded public employee pension funds. Great move by the dimwitted State officials trying to be woke. How many more business's and residents will move from CT. to more tax friendly States before the State figures this out? NEVER!

That's the problem with CT. They already figured it out, but politicians are so corrupt and care so little, that everything they do is to get votes tomorrow.

These people are not so stupid, they see the numbers, they know what happens when they harass businesses, but their goal is to get the poor peoples support.

 

[allen-1]

and CT. is going broke because of it's unfunded public employee pension funds. Great move by the dimwitted State officials trying to be woke. How many more business's and residents will move from CT. to more tax friendly States before the State figures this out? NEVER!

I lived in CT for 40 years, was planning on retiring there. The last ten years or so, my wife and I had been looking at the state's economy and becoming more disenchanted. Looking at winter in CT, (which all of you in the NorthEast are enjoying now), CT's economy and CT's increasingly stringent gun laws - we left.

Our only taxable footprint in CT now is a residential camper, which runs us about $400 a year in taxes paid directly to the town it's parked in. Everything else is in GA. Our cost of living went down, personal property taxes are non-existent, taxes are reasonable, the gun laws went back to "reasonable", and winter is more like a New England Fall.

On the flip side, summer here is brutal. I'm extremely fortunate that I work from home - I summer in CT in my camper. With my "limited capacity" magazines and my dogs.

 

[OnTheRoad]

Fiduciary duty takes a back seat to feelz. Wonderful.

A breach of fiduciary duty occurs when the fiduciary acts in the interest of themselves, rather than the best interest of the employer or principal. A fiduciary's actions must be free of conflicts of interest and self-dealing. As a fiduciary, you can't use the principal for your own personal advantage.