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Friday, March 3
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My comments are apolitical. My point is that CT is not run well, regardless of the name of the party in office. It is underperforming almost all other states in the union with respect to the economy. People are not leaving just to retire. They're leaving to find jobs and that is a major concern for the future of the state.
I reiterate, MA and NY are generally run by Democrats. If CT people are fleeing CT for these states, then it is obvious that being run by Democrats is not the problem.
From the Hartford Business Journal.
The large number of people moving to high-tax states likely indicates people are chasing new job opportunities, among other potential reasons.
However, it should be noted that Connecticut used to be a tax haven back in the 1980s, before the state enacted its income tax, with people and companies moving here from high-tax states like New York.
That competitive advantage has been eroded over the last few decades, making it less painful for tax-conscious citizens to cross the border into a higher-tax state like New York.
Why are the jobs in NY and MA? Look at the profile of existing corporations that are there and the startup environment that those states promote. Why have some major employers left CT?
Historically, I am right about New York, if we take a long view and consider the last 10 years or so of out-migration. Please see this chart (go to: https://ibb.co/JBrs4mD). You ARE right, however, that FL has been rising in popularity over the last few years, and has even been at the top in the last year or two.
This, however, doesn't change my overall point: if residents are fleeing Democrats' high taxes, why are they fleeing to New York (in addition to FL, where presumably more are going to retire than to work)? And why, moreover, is Massachusetts the third most popular state to relocate to, considering it is also a Democratic bastion?
Here's a quote from the Hartford Courant: "The census data show it’s not all about taxes, however. Florida remained the top destination for Connecticut expats in the period covered by the new data, from July 2017 to July 2018. But the second- and third-most popular destinations were the neighboring high-tax states of New York (14,420) and Massachusetts (14,224)."
And, if it about jobs (as you say) and not so much taxes, then why are the jobs in so many cases in (largely Democratic run) NY and MA?
retirement age is the main demographic.
