In a scathing indictment of the city’s economic policies, Bridgeport factory owners have cried foul, stating their businesses are being unfairly burdened with taxes that have increased fivefold since 1911. The allegations come as the community grapples with economic hardship, with factories struggling to stay afloat and employment slowly creeping upwards.
According to George Karnes, a local businessman with unwavering conviction, the factories in Bridgeport are being treated unfairly. ‘The community will cure its own hunger before it diverts more millions to cure the hunger of politicians,’ he stated. In a bold move, Karnes has taken his message to the Bridgeport Times, urging the community to take a hard look at the tax policies that are crippling local businesses.
The facts are stark: factories in Bridgeport are paying five times as much in taxes as they did in 1911, despite having three times fewer orders. Furthermore, they are being taxed a hefty sum on their incomes, and those that do turn a profit are being forced to hand over enormous sums to the federal government.
In a time of economic uncertainty, the Bridgeport community is crying out for relief. As the factories struggle to stay afloat, it remains to be seen whether the city’s leaders will listen to the cries of the people and take action to alleviate the tax burden on local businesses.
Key Facts
- State: CT
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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