[Serious Conversation]

Originally Posted by RunD1987

Connecticut towns ask for sales tax increase | Republican-American

Anyone see this article about towns asking for sales tax to be 10 percent???

People will go somewhere else if it's convenient for them. Sales tax in my part of Tennessee is about 10%. I do most of my Walmart/Sam's Club/Target type shopping in Virginia, where sales tax is ~5%.

[JayCT]

Another myth shattered. If taxes are driving away the rich, the why do we now have nine billionaires on the Forbes 400 list. That is up from seven last year. For a small state with less than 1% of the population, that is pretty good. Like three times the average. 😁 Jay

Connecticut Adds Two More Billionaires To The Forbes 400 List. Here's A Look At All Nine Members. - Hartford Courant

[BPt111]

Originally Posted by JayCT

Another myth shattered. If taxes are driving away the rich, the why do we now have nine billionaires on the Forbes 400 list. That is up from seven last year. For a small state with less than 1% of the population, that is pretty good. Like three times the average. �� Jay

Connecticut Adds Two More Billionaires To The Forbes 400 List. Here's A Look At All Nine Members. - Hartford Courant

Only Working class and Middle Class are complaining about state the state is more for upper class residents in desirable areas.

[beerbeer]

Originally Posted by JayCT

Another myth shattered. If taxes are driving away the rich, the why do we now have nine billionaires on the Forbes 400 list. That is up from seven last year. For a small state with less than 1% of the population, that is pretty good. Like three times the average. 😁 Jay

Connecticut Adds Two More Billionaires To The Forbes 400 List. Here's A Look At All Nine Members. - Hartford Courant

Connecticut has always produced billionaires. The question is whether the state can keep them. If it could there would be a lot more in the state.

[Mike 75]

Originally Posted by JayCT

Another myth shattered. If taxes are driving away the rich, the why do we now have nine billionaires on the Forbes 400 list. That is up from seven last year. For a small state with less than 1% of the population, that is pretty good. Like three times the average. 😁 Jay

Connecticut Adds Two More Billionaires To The Forbes 400 List. Here's A Look At All Nine Members. - Hartford Courant

Do they pay income taxes in CT, or are they 6 months and a day in FL?

[RunD1987]

I will admit with low taxes mean lower income. Though I think if CT can get the right person running the State and move the State in the right direction think CT will have a future of high income and low taxes.

Would like to see in CT a flat income rate of 4% or less with a $30K tax exemption, a State car tax, and legalized marijuana. The State doing away with Sales, Gas, Estate, Gift, Business Entity, and other small taxes. Simplify the system.

[JayCT]

Originally Posted by Mike 75

Do they pay income taxes in CT, or are they 6 months and a day in FL?

They list Connecticut as their home. That means they live and pay taxes here. Jay

[auggie22]

The additions are existing residents who had their fortunes grow, not new residents.

Fortunes probably grew thanks to the bull market. I am sure the state has harvested some of their investment gains.

The numbers that matter are new money in less money out. Anyone have a data source for that?

[JayCT]

Interesting take on the latest ranking of Connecticut's wealth. Jay

https://www.ctpost.com/business/danh...n-13297531.php

[beerbeer]

According to WalletHub, Connecticut ranks #50 (out of 51) for lowest taxes in 2018. Connecticut tax payers pay 28% more than the average state tax bite.


https://wallethub.com/edu/best-worst.../2416/#ad-disc