Saturday, January 16, 2016

Emptying out Connecticut

National Review: "Taxes chased GE out of Connecticut"
GE's decision to leave Fairfield for Boston is another sad marker in the downhill slide brought about by Connecticut’s high-tax, high-regulation, anti-business policies of the last 25 years.
So I live in Massachusetts but work in Connecticut...and I'm also losing my job.  The company I work for (not GE) basically said they're sick of getting dunned by Hartford.  How bad is the climate in Connecticut that General Electric is looking for relief in Boston?  This bad:
Connecticut has the second-highest property tax in the nation, ranking 49th out of 50. The Tax Foundation ranks Connecticut 42nd out of 50 in terms of tax climate (Massachusetts ranks 24th), and second highest in terms of state and local income-tax collections per person.

Massachusetts? It dropped its corporate tax to 8 percent from 9.5 percent and has a flat income tax of 5.15 percent. Connecticut, on the other hand, jacked its corporate tax to 9 percent from 7.5 percent and its top income-tax rate to 6.99 percent from 5 percent.
The mayor of Boston likened the GE move to winning Powerball.  Too bad, Connecticut.


Roger Bournival said...

Sorry to hear that, Eric. Hopefully you'll find another job soon. Good luck!

Eric said...

Thanks - as it turns out I'll (probably) be around for another year, so there's time.