Rich People Are Fleeing Connecticut
Excerpt: Lawmakers like Connecticut’s Democratic Gov. Dannel Malloy should pay attention to the latest batch of IRS data, which show tax payers – particularly wealthy ones – are leaving Connecticut for states like Florida, where there is no income tax, and New York City, where taxes are high but at least you can order Chinese food at 4 am. Indeed, as the Hartford Courant points out in an editorial, the latest data reveal that Connecticut is in the middle of a taxpayer exodus. Those who moved out of Connecticut from 2015 to 2016 took with them more than $6 billion in adjusted gross income, or AGI. People who moved to Connecticut brought with them only about $3.36 billion in AGI. The total net loss to Connecticut: $2.7 billion. In one year. That was in the top five of all states, regardless of population. (Gee, who could ever have predicted this? I could not afford to move back to CT unless I won the lottery, and not a small one either. Tax&Spend just doesn't make for a long term fiscal policy, driving out both industries and rich people just has to have an effect over time... duhh! --Del)
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