[BPt111]

Time is running out GE will made their decision to stay or leave CT in coming days or few weeks.


Malloy to deliver another pitch to GE - Connecticut Post

[JayCT]

Originally Posted by BPt111

Time is running out GE will made their decision to stay or leave CT in coming days or few weeks.


Malloy to deliver another pitch to GE - Connecticut Post

I always thought Manhattan was the lead candidate for their relocation. I had heard that back several years ago when GE first began looking for consultants to evaluate their Fairfield campus for potential redevelopment. I knew someone on the inside then who told me that was their goal but the problem has always been finding a quality building near Grand Central large enough and prestigious enough to accommodate the corporate headquarters. Will be interesting to see what comes out of this. Jay

[JayCT]

There was an interesting article on Connecticut not being No. 1 in spending despite the fact that we have the highest per capita income. A new survey found Massachusetts, New Hampshire, Washington DC, Alaska and North Dakota all spend more. So if Connecticut is such an expensive state to live in, why aren't we spending a higher percentage of our income like those other states? Does that mean we save more? Take a look. The article is available on The Courant's website so I think the link below will work for everyone. Jay

We're No. 1 in Income But Not In Spending - Hartford Courant

[RunD1987]

Hopefully Malloy doesn't offer GE Cash to stay in the state.

Isn't the average per capita income in the state $45,000.

I was reading an interesting article discussing the income gap and poverty rate in CT.

Brought up the 1991 regressive taxes. They mention that on average resident's income is taxed at 20% where some higher income is only taxed at 7%. Curious on what income us taxed at 7% and can we lower the tax deductions for low income to 10% ot even 5%.

[JayCT]

Originally Posted by RunD1987

Hopefully Malloy doesn't offer GE Cash to stay in the state.

Isn't the average per capita income in the state $45,000.

I was reading an interesting article discussing the income gap and poverty rate in CT.

Brought up the 1991 regressive taxes. They mention that on average resident's income is taxed at 20% where some higher income is only taxed at 7%. Curious on what income us taxed at 7% and can we lower the tax deductions for low income to 10% ot even 5%.

I think this is wrong. Never saw anyone's state taxes anywhere near this rate. Recheck you source and post it here. Jay

[RunD1987]

I mean seems off I loose about 3.5% of my income in state taxes not federal a year.

[Mr_250]

Seems like Malloy is now realizing that maybe GE is important to the State. He said the Unitary tax will now be changed. Malloy Meeting With GE on HQ; Changing Unitary Tax - Hartford Courant

GE still has concerns about what the future holds. 2 years from now we will have a deficit of $1.3 Billion and that means another tax hike. GE might think Malloy is looking at all these corporations to stay so they can be taxes later.

We will see how it goes tomorrow. Hopefully they put the correct jet engine on the cover of the presentation this time.

[HumpDay]

Originally Posted by Mr_250

Seems like Malloy is now realizing that maybe GE is important to the State. He said the Unitary tax will now be changed. Malloy Meeting With GE on HQ; Changing Unitary Tax - Hartford Courant

GE still has concerns about what the future holds. 2 years from now we will have a deficit of $1.3 Billion and that means another tax hike. GE might think Malloy is looking at all these corporations to stay so they can be taxes later.

We will see how it goes tomorrow. Hopefully they put the correct jet engine on the cover of the presentation this time.

I hope Malloy doesn't pay them to stay because with all the cuts going on right now, it wouldn't be fair. At the same time look at the bright side if GE leaves then home prices will drop which means more people will buy homes since they're more affordable. Is Malloy ever going to learn that raising taxes isn't necessarily going me to solve the problem?

[BPt111]

Do you think GE going to stay in CT ? A 20% chance ?

[Mr_250]

Originally Posted by HumpDay

I hope Malloy doesn't pay them to stay because with all the cuts going on right now, it wouldn't be fair. At the same time look at the bright side if GE leaves then home prices will drop which means more people will buy homes since they're more affordable. Is Malloy ever going to learn that raising taxes isn't necessarily going me to solve the problem?

It depend on where they move (of IF they move). If they move to Westchester I bet most people will keep their homes in CT. But the loss of a major tax payer will have to be made up somehow which means leaving the current home owners on the hook.