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Thread: Connecticut dept. : Are High Taxes Driving the Rich Out of Connecticut ? ? ?

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    Question Connecticut dept. : Are High Taxes Driving the Rich Out of Connecticut ? ? ?

    Are High Taxes Driving the Rich Out of Connecticut ?

    > http://blogs.wsj.com/wealth/2011/02/...f-connecticut/

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    Connecticut has a department?

    Are high taxes also driving people from Denmark? That place probably looks deserted by now, huh?

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    yes all the rich people are leaving conn and going to South Carolina. They enjoy the applebees down there.

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    Quote Originally Posted by bitonti View Post
    yes all the rich people are leaving conn and going to South Carolina. They enjoy the applebees down there.
    Don't forget the barbeque.


    BTW.... South Carolina is a pretty nice place to live.

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    Quote Originally Posted by southparkcpa View Post
    BTW.... South Carolina is a pretty nice place to live.
    I have family down there and agree... my point was really rich people usually don't leave rich states and move to poor ones just for tax purposes. these people might complain but they also have charity balls and museum benefits to attend.

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    Funny, I'm thinking of moving to South Carolina.

    I would never think about moving to Conneticut.

    /shrug

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    Quote Originally Posted by bitonti View Post
    I have family down there and agree... my point was really rich people usually don't leave rich states and move to poor ones just for tax purposes. these people might complain but they also have charity balls and museum benefits to attend.
    I'm not really rich but I pay a fortune in taxes and live in CT.

    While in the crapper this morning I was reading the local paper regarding the pending tax increase both income and sales tax. At breakfast my wife and I decided that we will be moving our permanent residence to the Southwest in the next 3 years. Our plan was to take a winter place for a few months each year and keep our residency in CT. Based on the tax structure it makes more sense to give up our CT house and stay in a hotel in Manhattan as a none resident for a couple of months in the spring or fall.

    There are loads of high tax not rich 50 somethings in the Metro Area faced with the same decisions. Many will and up leaving once they retire and pull all their taxable income from these States. Others who would maintain dual residency will dump their residency in the Metro area entirely. These are not the super rich but they are people who qualify in the top tax brackets who spend money that is also taxed at the point of sale.

    This is a pending dissaster in the North East.

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    Quote Originally Posted by Warfish View Post
    Funny, I'm thinking of moving to South Carolina.

    I would never think about moving to Conneticut.

    /shrug
    Charlotte is right on the SC border, so Fort Mill SC is growing rapidly. Only negative??? Lots of people from NY, NJ and Conn.

    I may move to SC in a few years as I 'wind down" a bit. I really like it here in Charlotte.

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    Quote Originally Posted by bitonti View Post
    I have family down there and agree... my point was really rich people usually don't leave rich states and move to poor ones just for tax purposes. these people might complain but they also have charity balls and museum benefits to attend.
    rich people do eat poor people, so that would be one reason to move down there.

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    Quote Originally Posted by Warfish
    Funny, I'm thinking of moving to South Carolina.

    I would never think about moving to Conneticut.

    /shrug

    Quote Originally Posted by southparkcpa View Post
    Charlotte is right on the SC border, so Fort Mill SC is growing rapidly. Only negative??? Lots of people from NY, NJ and Conn.

    I may move to SC in a few years as I 'wind down" a bit. I really like it here in Charlotte.
    LMAO!!!

    The whole hampers coming for you, CPA...


    What about Rock Hill? I've been looking around there....

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    Quote Originally Posted by PlumberKhan View Post
    LMAO!!!

    The whole hampers coming for you, CPA...


    What about Rock Hill? I've been looking around there....
    Rock Hill is a little more "Old South" but 20 minutes from Charlotte, lots of clients there. Not a bad location in general.

    Do you have skoal and a confederate flag?

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    Quote Originally Posted by kelly View Post
    Are High Taxes Driving the Rich Out of Connecticut ?

    > http://blogs.wsj.com/wealth/2011/02/...f-connecticut/
    The title is a contradiction.

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    Quote Originally Posted by quantum View Post
    rich people do eat poor people, so that would be one reason to move down there.
    Down there they call them "soylent green".

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    Quote Originally Posted by southparkcpa View Post
    Don't forget the barbeque.


    BTW.... South Carolina is a pretty nice place to live.
    " . . . South Carolina is a pretty nice place to live. "

    ~ ~ agreed
    i lived in charleston for a couple of yrs.
    pretty cool place

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    Quote Originally Posted by Winstonbiggs View Post
    I'm not really rich but I pay a fortune in taxes and live in CT.

    This is a pending dissaster in the North East.
    I wish you the best of luck my friend but life is not rosy in the sw.

    Las Vegas has crippling unemployment, Phoenix has a pending water disaster and whole state of California is a real candidate to be bankrupt.

    End of the day you get what you pay for... moving to a "cheaper" state doesn't come without risks or trade-offs.

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    Quote Originally Posted by bitonti View Post
    I wish you the best of luck my friend but life is not rosy in the sw.
    Life is just fine outside of Dallas...

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    Quote Originally Posted by bitonti View Post
    I wish you the best of luck my friend but life is not rosy in the sw.

    Las Vegas has crippling unemployment, Phoenix has a pending water disaster and whole state of California is a real candidate to be bankrupt.

    End of the day you get what you pay for... moving to a "cheaper" state doesn't come without risks or trade-offs.
    At the end of the day you can afford what you can afford and if you can't afford it you can't pay for it. Services in high tax areas are going to decline or people providing the service are going to do them for less money. A declining population and declining revenue make that a reality. States in low tax areas are growing, their tax base is growing and they don't have decades of bloated public pensions to contend with.

    The populations in the Northeast, Midwest and California are lossing population through migration to other states. This is a growing trend.

    Many of the upper middle class in the Northeast and CA are in their late 50's and are starting to tap into their pensions which will now be taxed as income. You can be sure that huge numbers of these people who pay a big portion of taxes will move entirely or move their primary residences for their own financial protection. This not only means less income tax it means substantially less sales tax collection.

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    Quote Originally Posted by bitonti View Post
    I wish you the best of luck my friend but life is not rosy in the sw.

    Las Vegas has crippling unemployment, Phoenix has a pending water disaster and whole state of California is a real candidate to be bankrupt.

    End of the day you get what you pay for... moving to a "cheaper" state doesn't come without risks or trade-offs.
    NO disrespect..NONE. I used to think like that. It's what makes the rest of the country think NY/NJ people are arrogant.

    Life is SO MUCH better outside of the NY area for many. Opportunities here are so wide open and do NOT always depend on "political connections".

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    Quote Originally Posted by southparkcpa View Post
    NO disrespect..NONE. I used to think like that. It's what makes the rest of the country think NY/NJ people are arrogant.

    Life is SO MUCH better outside of the NY area for many. Opportunities here are so wide open and do NOT always depend on "political connections".
    Bit lives in Philadelphia.

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    Quote Originally Posted by cr726 View Post
    Bit lives in Philadelphia.
    Same idea though. To many people NOT in the NE, Philadelphia is NY is NJ is Boston etc.... we are ALL a bunch of arrogant pricks.

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