[HeadedWest]

Originally Posted by civis

I think you are delusional about Sweden - they didn't cut any "services". They still have twice more vacation time, almost fully paid unlimited sick days, free child care, free education and free health care, and laughably low property taxes - all these things cost a fortune in the US.

They do have higher income tax rates overall, as most other Nordic countries, which employ socially oriented economies, yet still highly competitive and efficient.

The problems with the US are:
1. racial segregation, which doesn't allow non-whites successfully integrate into the society, which eventually puts enormous stress on social system (crime, drugs - as a result excessive police force, excessive number of jailed people , excessive number of welfare clients).

Not so much of an advantage for Sweden any more.

Sweden 'integration problems' expected to fuel segregation expansion

[robr2]

Here's a thought - how much income tax revenue does CT lose to NY and NYC due to the sheer number of Fairfield County residents that work out of state? Would that amount make a difference to the situation?

I know there isn't any way around it - SW and Western CT are tied to NY economically just like southern NH residents are tied to Boston and the North Shore. If it weren't for NYC and Boston, those areas wouldn't have the livability that they do.

[ayoskillz]

Originally Posted by robr2

Here's a thought - how much income tax revenue does CT lose to NY and NYC due to the sheer number of Fairfield County residents that work out of state? Would that amount make a difference to the situation?

I know there isn't any way around it - SW and Western CT are tied to NY economically just like southern NH residents are tied to Boston and the North Shore. If it weren't for NYC and Boston, those areas wouldn't have the livability that they do.

If it wearnt for those areas the north east would be what it is now. It would probably resemble a nicer pacific west

[JayCT]

Well there is some good news for Trumbull and Stamford. Henkel, the German company that has its American Headquarters in Rocky Hill has leased space in Trumbull for expansion of its home, laundry and beauty care research facility. This is in addition to the new research facility they already have in Trumbull.

In Stamford, they are bringing 266 employees from Arizona and expect it to grow to more than 500 by next year. This is very good news. Jay

Trumbull to benefit from Henkel moves - Connecticut Post

[Henry10]

Originally Posted by robr2

Here's a thought - how much income tax revenue does CT lose to NY and NYC due to the sheer number of Fairfield County residents that work out of state? Would that amount make a difference to the situation?

Not sure if you understand that NY State taxes CT residents Income Tax because they earn income in NYS and CT can do nothing about it. Are you saying that NYS should stop taxing them so that CT can get'em instead?

NYS would declare WW3 to CT before it surrenders this tax revenue.

[robr2]

Originally Posted by Henry10

Not sure if you understand that NY State taxes CT residents Income Tax because they earn income in NYS and CT can do nothing about it. Are you saying that NYS should stop taxing them so that CT can get'em instead?

NYS would declare WW3 to CT before it surrenders this tax revenue.

I understand that NYS collects taxes from income earned by CT residents. I was just wondering what impact that lost revenue has on CT. Would that additional tax revenue have an effect on CT if they could collect it via enticing companies and those jobs to CT? Is it tens or hundreds of millions or even a billion or more?

[Lalalally]

Originally Posted by robr2

I understand that NYS collects taxes from income earned by CT residents. I was just wondering what impact that lost revenue has on CT. Would that additional tax revenue have an effect on CT if they could collect it via enticing companies and those jobs to CT? Is it tens or hundreds of millions or even a billion or more?

CT is never going to lure that away from NYC. Never. Don't even try to dream about that tonight

[Henry10]

Originally Posted by robr2

I understand that NYS collects taxes from income earned by CT residents. I was just wondering what impact that lost revenue has on CT. Would that additional tax revenue have an effect on CT if they could collect it via enticing companies and those jobs to CT? Is it tens or hundreds of millions or even a billion or more?

SW CT has taken some jobs away from the NYC, especially finance. FFC is growing and is basically is keeping CT afloat. It will still continue to take jobs away, but where will you put all those new people?

Secondly, as CT increases tax burdens, CT's attractiveness diminishes. I showed a chart a page or two earlier that CT, NJ, and NYS now have about the same tax burden.

Thirdly Stamford / SW CT are in the middle of some of the worst congestion in the country, so that doesn't help.

So if a NYC company wants to relocate, the new place has to offer strong incentives to pack up and leave. These incentives in CT are weak. Hence jobs will stay in NYC, or will go to places with significant cost savings, which CT does not offer.

[JayCT]

There has been a lot of discussion here about wealthy people "fleeing" Connecticut, yet according to this study the concentration of "millionaires" is actually up. Connecticut is still No. 2 in concentration but No. 1 Maryland went down a bit. Either way we appear to be keeping our wealthy people which is a good thing. Jay

Study: Connecticut adds to concentration of millionaires - Connecticut Post

[Henry10]

Originally Posted by JayCT

There has been a lot of discussion here about wealthy people "fleeing" Connecticut, yet according to this study the concentration of "millionaires" is actually up. Connecticut is still No. 2 in concentration but No. 1 Maryland went down a bit. Either way we appear to be keeping our wealthy people which is a good thing. Jay

Study: Connecticut adds to concentration of millionaires - Connecticut Post

Securities keeps these guys around. Secondly, rising wages / compensations on Wall Street has put more people over the million-dollar mark in investable accounts. "Half-a-mill" is no longer what it used to be.

You now have young'uns in their 20s that are clipping a few hundred thousand a year. Those guys in the 40s and 50s are stashing their money in retirement accounts until they retire to greener pastures.

NJ is the same thing. Everywhere in the tristate area.