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What you and others don;t realize is that a widening Gini coefficient actually shows American style capitalism is working. Rich getting richer poor getting poorer.
If CT has the highest coefficient that would mean we have the best capitalistic economy/society in the United States.
Having a high coefficient is nothing to brag about.
Income & wealth inequality didn't just happen in CT due to a free market economy. Many of the have-nots are uneducated immigrants (legal & illegal), many who can't even speak, read, write, or understand English.
They were allowed into CT by politicians by becoming a sanctuary state for immigrant dumping. Those politicians were elected by most CT voters.
This was, & is, a decision made by people in CT. Decisions have consequences. The consequences often screw the free market economy's performance, & economic climate in CT.
Long time affluent CT residents are leaving in droves. I've linked to articles proving this. Do you have any proof otherwise? Plz provide links.
CT's wealth gap being amongst the widest in the USA, & I've provided the facts. Do you dispute them?
CT's real estate market was propped up in 2020-2021 by New Yorkers fleeing Covid, & coming wealth taxes, but that will soon reverse to some extent by diminishing covid fears. This is my opinion.
CT's pension plan is amongst the worse funded in the USA...I've provided facts...do you dispute them?
CT's higher education is ranked very low...I've backed up this claim, do you still deny them? Links?
CT's population of longtime residents is in decline, do you dispute this? How do you explain 400,000 leaving?
CT has done well due to proximity to NYC, & I've backed up this claim...do you deny this?
CT failed at keeping its residents safe from covid...do you dispute this?
I've supported nearly EVERY claim I've made with factual 3rd party verification. I cannot make anyone read the links. I have not had anyone here refute the validity of my sources.
Thx for welcoming me back. Florida continues to welcome affluent tax refugees fleeing CT's crazy high taxes. As CT's pension plans implode due to lack of funding, the taxes can only increase.
I'll be there soon to look in on my investments, visit clients, & enjoy some vaca days off. I can't wait to see how affluent CT residents still there feel about the economic climate, and the exodus now underway.
I'll be asking them to tell me what they think the future holds for CT in the decades to come. Based upon the outflow of affluent makers, I don't think I'll hear much optimism.
Too bad about the economic climate being so bad, because its such a beautiful state otherwise.
I haven't disputed anything. Even folks trapped in caves on Venus know that people have moved out of CT over the years. Of course.
I acknowledged CTs wealth disparity. I asked why it hasn't gone down since so many wealthy left? I asked who bought all the expensive homes the wealthy moved out of? did they abandon them? walk away from the mortgage? you skirted
10-15K NYers among others could have moved to FL or GA for Covid, but they didn't, they chose FFC and CT despite all the theatrical gloom. FFC RE is up 18%, wealthy are moving in. Google it. Sure I guess they might move back out one day. I don't have the slightest idea.
I didn't mention anything about pensions.
I know it's a beautiful state, when I fire up the twin mercs and idle out to the Sound in the no-wake zone I take it all in. A Baroque symphony on the marine head unit! You Kiddin! Best seat in the house. I might even do it from Biscayne Bay one day. Who knows.
Enjoy your visit, always welcome back. Don't be a stranger.
Long time affluent CT residents are leaving in droves. I've linked to articles proving this. Do you have any proof otherwise? Plz provide links.
CT's wealth gap being amongst the widest in the USA, & I've provided the facts. Do you dispute them?
CT's real estate market was propped up in 2020-2021 by New Yorkers fleeing Covid, & coming wealth taxes, but that will soon reverse to some extent by diminishing covid fears. This is my opinion.
CT's pension plan is amongst the worse funded in the USA...I've provided facts...do you dispute them?
CT's higher education is ranked very low...I've backed up this claim, do you still deny them? Links?
CT's population of longtime residents is in decline, do you dispute this? How do you explain 400,000 leaving?
CT has done well due to proximity to NYC, & I've backed up this claim...do you deny this?
CT failed at keeping its residents safe from covid...do you dispute this?
I've supported nearly EVERY claim I've made with factual 3rd party verification. I cannot make anyone read the links. I have not had anyone here refute the validity of my sources.
Thx for welcoming me back. Florida continues to welcome affluent tax refugees fleeing CT's crazy high taxes. As CT's pension plans implode due to lack of funding, the taxes can only increase.
I'll be there soon to look in on my investments, visit clients, & enjoy some vaca days off. I can't wait to see how affluent CT residents still there feel about the economic climate, and the exodus now underway.
I'll be asking them to tell me what they think the future holds for CT in the decades to come. Based upon the outflow of affluent makers, I don't think I'll hear much optimism.
Too bad about the economic climate being so bad, because its such a beautiful state otherwise.
It’s a shame you haven’t bothered following this thread closer because you would have learned something and found that many of your complaints about Connecticut are inaccurate or no longer valid. The following posts addressed them.
Your contention that the wealthy are “leaving in droves” is media hype since Connecticut has maintained its position of No. 1 in Personal Income. Wouldn’t we have dropped off a Cliff?
As I said before, of course Connecticut has the greatest wealth gap, it simple logic that the wealthiest state would have the great wealth gap.
Your opinion that Connecticut’s recent real estate strength is due to New Yorkers fleeing the city isn’t based on fact. If that was true then why has the state seen home price increases across the entire state? Are New Yorkers moving to towns like Colchester, Preston, Windsor Locks, or Plainfield? I don’t think so.
As for higher education, your contention completely ignores the fact that our state has some of the most highly regarded colleges in the country, if not the world. Did you hear of a little school called Yale? Pretty much universally considered among the very best in the world. Add in schools like Wesleyan, Fairfield, UConn, Trinity, Connecticut College and the US Coast Guard Academy, as well as Connecticut’s top rated public K - 12 schools and you see our little state ranks VERY impressively. This one has us in the Top 10. How is that bad?
I’m not sure where you got that 400,000 number from or what it exactly is but it’s not new that some Connecticut retirees like to retire to warmer climates. The fact is though is the vast majority of retirees actually stay in our state.
As I told you before Connecticut has a VERY well received plan to pay its pension obligations. In fact, it’s been so well received that our state’s credit rating has been raised by four credit rating agencies. Check the post copied below. And even better is that the state is using their massive surpluses to pay off the obligation even sooner than planned. This year they are adding $1.2 billion to the pension plans.
Connecticut did NOT fail to protect our population from Covid. What an absolutely LUDICROUS statement. How can a state protect you from something they don’t know about? Did you forget that our country was lied to for weeks about the virus so it spread hear? Did you not know that the virus entered our country through New York and because of the fact we are so closely tied to it, it spread rapidly As soon as the true severity of the virus was made known, our state acted swiftly and thoroughly. In fact, I think we handled the crisis better than most, if not all states. Check out our Covid thread to see the facts.
As for our economy, you are WAY off. The best measure of economic health is a state’s Gross Domestic Product. Connecticut per capita GDP is among the very highest in the country ranking among the Top 10 consistently. Given that our Personal Income is No. 1, I don’t see how anyone but the most blindly biased could say it is bad. Makes me wonder about that person. Jay
Quote:
Originally Posted by JayCT
You seem to be unaware of Connecticut’s plan to address its pension obligations. It was developed under Governor Malloy and has been widely accepted as the best path to be taken. Pensioners do not have to take a reduced benefit as you said they would. It is already proving its worth. Four major credit rating agencies have recently upgraded the state’s credit rating. The best explanation of the plan is the former State Comptroller’s proposal for it. .
It is arguable at best if the strength of New York’s economy is weakening or not. It wasn’t that long ago, maybe 40 plus years ago, that the city was written off, yet it came back stronger than ever. No one knows what will happen post Covid Crisis. No matter what you think or say, it’s unlikely that the city’s strength and importance will be depleted in the foreseeable future.
You also seem to be under the assumption that Connecticut’s entire economy is tied to New York. It is not. It is true that much of Fairfield County is but that is not true in the rest of the state where the majority of the state’s population lives.
So you also know, the proposals to increase taxes on the wealthy in Connecticut have failed and Governor Lamont has come out very publicly against it. Our new 2 year budget has not included such increase and I t’s unlikely that an increase will happen in the foreseeable future either.
Of course Connecticut has the greatest inequality of income and wealth. It is No. 1 in personal income and is longhome to some of our country’s wealthiest. It’s simple logic and really has little consequence. Just like your concern. Jay
Quote:
Originally Posted by JayCT
Your comments are a bit scattered and many don’t make much sense. I’ll try to address the most pertinent ones.
You are posting an article from elections five years ago. This past election had much fewer uncontested elections. And if you think 25% is high, hold onto your seat because Massachusetts had 74% of its House races and 80% of the State Senate seats ran uncontested in 2020.
Building codes do not tell you how a building is to be laid out. It is design standards used by architects to design buildings. I said an architect works with the local building committee. Of course he is hired. I’m confused by your Massachusetts Community Center comment. Are you on a Building Committee for a community center in Massachusetts? Don’t you live in Connecticut now?
Specialized needs means just that. Each town has its own needs when it comes to the buildings environment whether it’s a site in a historic part of town, or a wooded site with views in certain directions or a tight urban site. They are all different and need different designs.
I’m glad you at least agree that state built projects like Riverview can be bland. There’s nothing to stop a State Building Authority to build the same crap. In fact that is very likely as they stride to save money and would have limited accountability to the community. Oh yeah, I kind of like Boston City Hall. It’s the height of the Brutalist movement in our country. It certainly is different which is what was intended back in the 70’s when it pwas built.
A state’s per Capita Gross Domestic Product is the best way to judge a state’s economic strength. It doesn’t matter what most people think. They aren’t economists and likely don’t understand how economies work in the first place. The links to the rankings have been posted here a number of times already but here they are again.
I don’t understand what East Windsor has to do with this or understand your other ramblings but I’m pretty much done arguing with you. As I said this is not Massachusetts (thankfully) and you need to accept things here are different. That does not make it wrong. Have a nice night. Jay
Quote:
Originally Posted by JayCT
The state is getting ready to pay down its pension obligations for the second year in a row. According to State Treasurer Shawn Wooden, the state will add more than $1.2 billion into the State Employee Pension and/or the State Teacher Pension Funds. This is on top of our Rainy Day Fund ballooning to almost $4.38 billion. I think that this is a fiscally conservative approach, certainly better than the state blowing the money. Good move. Jay
So, the economic climate of Connecticut can't be robust, when its one of the top net population outbound states for affluent residents.
Affluent New Yorkers were fleeing NY during the peak covid break out & into nearby Farifield county...mostly (see links for areas most & least impacted by outbound flight). If it were not for this inbound flow, CT would have suffered even worse outflows.
Even after the covid pandemic has improved, CT continues to lose residents:
50+'ers make up most of the affluent population, because they've had more years to accumulate wealth, yet they are fleeing CT's high taxes & cost of living, & bad weather, says this article:
For CT's economic climate to improve, the 200,000 affluent 50+'ers who fled, must be replaced by "makers".
Are immigrants who are functionally illiterate & poor going to replace them?
How about CT's youth? Youth crime is rising at record levels, & higher education in CT ranks low.
The newcommers from NY & NJ will fill some of the void, but will they help reduce taxes & cost of living?
I have no personal complaints about CT's economic climate. It is what it is...declining due to high taxes, high cost of living, an aging population, bad immigration policy, high youth crime, bad higher education, & the loss of affluent residents.
Due to massive state pension deficits, & needy immigrants, the high taxes can only go higher. Flooding the state w/ poor immigrants will widen the wage, & wealth gaps.
Due to years of bad policy, the economic climate in CT is trending downward. The $92B pension gap, is crushing CT.
IMHO...Many of the remaining rich, will get taxed out of the state in the future when the current Governor is gone, & the economic decline will hasten.
Last edited by beach43ofus; 07-04-2021 at 05:41 AM..
Income & wealth inequality didn't just happen in CT due to a free market economy. Many of the have-nots are uneducated immigrants (legal & illegal), many who can't even speak, read, write, or understand English.
They were allowed into CT by politicians by becoming a sanctuary state for immigrant dumping. Those politicians were elected by most CT voters.
This was, & is, a decision made by people in CT. Decisions have consequences. The consequences often screw the free market economy's performance, & economic climate in CT.
I see you live in Venice FL. It's nice there. My mom & dad had a house near there that they rented out.
So FL has more foreign born individuals many of whom probably don't speak English like in CT. I assume it's like that in every state with immigrants. My great grandparents and grandparents could not speak English when they came from Italy also but they all became business owners. I am sure many of todays immigrants become business owners like my ancestors did IN ALL THE STATES.
So CT has less foreign born in our state than yours. We have higher incomes and a lower poverty rate. Perhaps you should look up facts before you "dis" CT. With higher incomes and less poverty it appears by metrics/info our state's government is working better also.
There's a specific forum for comparing places, but since your off-topic post was allowed, I'm hoping I'll be allowed to reply. Afterwards, I'm staying on-topic...which is CT's economic climate...
Why have so many 50+ wealthy CT residents left your state recently? That crushes CT's economic climate.
You failed to mention CT's higher cost of living or repressive taxes that caused them to leave.
You failed to mention CT being $92B underwater on their pension funding, that will drive taxes even higher in the future.
You failed to mention CT inferior colleges/universities that rank 46th in the USA.
You failed to mention the low quality of CT's hispanic immigrants, & how poor, uneducated, & illiterate they are compared to non-santuary states'.
You fail to mention the lower #/% of retirees CT has, & how that impacts median incomes.
If CT's gov't were better, CT wouldn't have lost a net 200,000 residents recently, yet, you claim CT's Gov't is working well
If CT's gov't & economic climate was so good, why is youth crime rising to record levels? No jobs for them? Bad higher education?
If the economic climate was good in CT, & the gov't was excelling, CT wouldn't be losing like this...especially in "maker" headcount, brain & wealth drain.
Now, let's stay on topic, as none of this has anything to do with where any poster resides. Focus on the topic, & stop deflecting. I'm happy to continue this debate in the proper forum.
Quote:
Originally Posted by CTartist
I see you live in Venice FL. It's nice there. My mom & dad had a house near there that they rented out.
So FL has more foreign born individuals many of whom probably don't speak English like in CT. I assume it's like that in every state with immigrants. My great grandparents and grandparents could not speak English when they came from Italy also but they all became business owners. I am sure many of todays immigrants become business owners like my ancestors did IN ALL THE STATES.
So CT has less foreign born in our state than yours. We have higher incomes and a lower poverty rate. Perhaps you should look up facts before you "dis" CT. With higher incomes and less poverty it appears by metrics/info our state's government is working better also.
In what ranking system do you find Connecticut’s colleges and universities ranked 46th in the nation? Granted some posters on here oversell the quality of the state university system but if you include the private colleges and universities the state has a lot to brag about. Show me one single school in Florida that even comes close to Yale.
Quote:
Originally Posted by beach43ofus
There's a specific forum for comparing places, but since your off-topic post was allowed, I'm hoping I'll be allowed to reply. Afterwards, I'm staying on-topic...which is CT's economic climate...
Why have so many 50+ wealthy CT residents left your state recently? That crushes CT's economic climate.
You failed to mention CT's higher cost of living or repressive taxes that caused them to leave.
You failed to mention CT being $92B underwater on their pension funding, that will drive taxes even higher in the future.
You failed to mention CT inferior colleges/universities that rank 46th in the USA.
You failed to mention the low quality of CT's hispanic immigrants, & how poor, uneducated, & illiterate they are compared to non-santuary states'.
You fail to mention the lower #/% of retirees CT has, & how that impacts median incomes.
If CT's gov't were better, CT wouldn't have lost a net 200,000 residents recently, yet, you claim CT's Gov't is working well
If CT's gov't & economic climate was so good, why is youth crime rising to record levels? No jobs for them? Bad higher education?
If the economic climate was good in CT, & the gov't was excelling, CT wouldn't be losing like this...especially in "maker" headcount, brain & wealth drain.
Now, let's stay on topic, as none of this has anything to do with where any poster resides. Focus on the topic, & stop deflecting. I'm happy to continue this debate in the proper forum.
So, the economic climate of Connecticut can't be robust, when its one of the top net population outbound states for affluent residents.
Affluent New Yorkers were fleeing NY during the peak covid break out & into nearby Farifield county...mostly (see links for areas most & least impacted by outbound flight). If it were not for this inbound flow, CT would have suffered even worse outflows.
Even after the covid pandemic has improved, CT continues to lose residents:
50+'ers make up most of the affluent population, because they've had more years to accumulate wealth, yet they are fleeing CT's high taxes & cost of living, & bad weather, says this article:
For CT's economic climate to improve, the 200,000 affluent 50+'ers who fled, must be replaced by "makers".
Are immigrants who are functionally illiterate & poor going to replace them?
How about CT's youth? Youth crime is rising at record levels, & higher education in CT ranks low.
The newcommers from NY & NJ will fill some of the void, but will they help reduce taxes & cost of living?
I have no personal complaints about CT's economic climate. It is what it is...declining due to high taxes, high cost of living, an aging population, bad immigration policy, high youth crime, bad higher education, & the loss of affluent residents.
Due to massive state pension deficits, & needy immigrants, the high taxes can only go higher. Flooding the state w/ poor immigrants will widen the wage, & wealth gaps.
Due to years of bad policy, the economic climate in CT is trending downward. The $92B pension gap, is crushing CT.
IMHO...Many of the remaining rich, will get taxed out of the state in the future when the current Governor is gone, & the economic decline will hasten.
You have not addressed or acknowledge ANY of my responses to your comments which pretty much blows most of your points out of the water. Please go back and read them and then come back and tell us how horrible our state is. I’m waiting.
You are basing your contention that the wealthy are “fleeing” our state on a national van line moving data. As we have discussed here MANY times before, that study is severely flawed. It is just one company’s data. It’s not complete or comprehensive. Just because one national moving company gets more business here than in other states doesn’t mean anything. Their franchisee could be simply more affordable than other movers.
As I said before, the media’s cries of the wealthy fleeing our state is nothing more than clickbait. If this was true our state would have no population growth (it’s grown 1%), would not still be No. 1 in personal income and would not be in the Top 10 for GDP per capita. Connecticut residents retiring to the warm climate has been happening for over a century now. It means little to nothing. If taxes were such a big deal as you claim, why then have four companies announced their relocation here? Also how can we have such a high GDP if our economy is bad? Connecticut’s plan to meet its pension obligations have been addressed and is widely accepted as being a reasonable solution. Accept that already. It’s wrong so move on. Again I’m waiting. Jay
Why have so many 50+ wealthy CT residents left your state recently? That crushes CT's economic climate.
.
Let me explain.
My relatives have been in CT before 1900. We are mostly still in Fairfield County. This pattern has been going on since all of my relatives have been in Fairfield County and it is the wealthier part of CT. When middle class or poor people retire in CT many people move away down south BUT........
when wealthy CT people retire many have a house in CT and also a place down south. The live in the house down south longer than the CT house but they still come back to CT. This same pattern has been going on for generations. Many of my cousins who are now retiring age are buying their houses down south already. This pattern is nothing new.
I was born at the peak of the baby boom. The peak is when the most baby boomers were born so it is no surprise to me that more people are buying homes down south now. Right now until the year 2035 will see a rise in people retiring so this pattern will continue for quite some time.
"Based on the United Nations Department of Economic and Social Affairs, Population Division’s projections, we will hit Peak Boomer in 2035, at which point the rapid growth of the aged population slows down." https://www.apf.org/blogpost/1763106...en-will-it-hit
If you look at this graph you can see the highest bars that is the peak of the baby boom. I am in the peak and many of my cousins too. I can see the pattern of all my friends and family and buying condos in FL is on steroids right now from what I am seeing.
1 New York.............90,043
2 Massachusetts......86,942 3 Connecticut..........81,055
4 California.............80,563
5 Washington..........80,170
6 Delaware.............78,468
7 Alaska.................76,220
8 North Dakota........75,321
9 New Jersey...........73,451
10 Maryland............71,838
39 Florida...............51,745
If my state was way on the bottom for GDP Per Capita and not in the top 5 like CT I would not be "dissing" that state. When your state cracks the top 25 let me know lol.
Guess what. The wealthy that have been moving into Fairfield County this year from NYC is astounding. In a few years we will know what the impact of all the middle class retiring & moving down south and the wealthy moving into Fairfield County CT. The Per Capita Income and GDP should be very interesting. And there are lots of companies moving into my hometown of Stamford and southwestern Fairfield County too.
So FL has more foreign born individuals many of whom probably don't speak English like in CT. I assume it's like that in every state with immigrants. My great grandparents and grandparents could not speak English when they came from Italy also but they all became business owners. I am sure many of todays immigrants become business owners like my ancestors did IN ALL THE STATES.
So CT has less foreign born in our state than yours. We have higher incomes and a lower poverty rate. Perhaps you should look up facts before you "dis" CT. With higher incomes and less poverty it appears by metrics/info our state's government is working better also.
I am an Independent Centrist for the record.
Great work.
Someone from FL saying CT has too many immigrants? has a pot ever called a kettle more black than that, I mean my God.
You guys are wasting your time with this guy though, just let it go.
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