The Town of Elton has cut the salaries of its mayor and chief of police in half as the municipality works through years of accumulated debt, including back payments owed to a state retirement system and the IRS.Mayor Michael Pierrotti said the financial problems predate his time in office."We were in so much debt. You know, things weren't paid. We couldn't even buy one time when I came in, we couldn't even buy a copy of paper or ink for our prin…