Last week, the Finance, Revenue and Bonding Committee held a public hearing on a proposal to establish a new capital gains surcharge under the banner of “taxing the rich.” While supporters argue it targets only high earners, it would still create a brand new tax in Connecticut.

But the bigger danger is what comes next.

New taxes do not exist in a vacuum. They create new streams of revenue that lawmakers quickly build spending around. Once that spending becomes permanent, it must be sustained. And when volatile capital gains revenue inevitably declines or spending outpaces projections, pressure shifts to broader, more stable tax bases.

That is when middle class families get pulled in.

Connecticut has seen this pattern before. Targeted tax increases become justification for larger budgets, and larger budgets eventually require more revenue.

This is not just about one surcharge. It is about preventing a cycle of new taxes and expanded spending that ultimately lands on working families.

Tell the Finance Committee to vote no on establishing a capital gains surcharge before today’s “tax the rich” becomes tomorrow’s middle class tax hike.