[SteveM85]

Originally Posted by kidyankee764

The answer to your question is literally in the quoted portion of your post. These people still have incomes - they are no longer paying income/car/any other tax the remaining CT residents pay. This is pretty obvious stuff.

State taxes on RMDs and SS are peanuts. Pocket change.

[kidyankee764]

Originally Posted by SteveM85

State taxes on RMDs and SS are peanuts. Pocket change.

The point being made that you’re missing is it’s not solely SS and recent releases are showing those leaving NE states aren’t solely retirees - more than ever, it’s now remote employees. Anecdotally, many I know establishing residency in FL have healthy incomes formerly reported in CT, NY and NJ. Many reports confirming my thoughts have been published. A lot are keeping their homes up north so they go without replacement. Problem.

The years of the Golden Girls are over.

[SteveM85]

Originally Posted by kidyankee764

The point being made that you’re missing is it’s not solely SS and recent releases are showing those leaving NE states aren’t solely retirees - more than ever, it’s now remote employees. Anecdotally, many I know establishing residency in FL have healthy incomes formerly reported in CT, NY and NJ. Many reports confirming my thoughts have been published. A lot are keeping their homes up north so they go without replacement. Problem.

The years of the Golden Girls are over.

See. This is what happens when I try and go head to head with Miami Vice. I get run over like a freight train.
Well done, but I thought we were talking about retirees, as was originally presented by City Data maven CTArtist.
Maude and Betty's aren't going anywhere. People still get old.

[kidyankee764]

Originally Posted by SteveM85

See. This is what happens when I try and go head to head with Miami Vice. I get run over like a freight train.
Well done, but I thought we were talking about retirees, as was originally presented by City Data maven CTArtist.
Maude and Betty's aren't going anywhere. People still get old.

It was in response to “Just because you see a lot of people BUYING in FL doesn't mean all their money went with them.” which is, in 2021, quite false. If people are buying in a state without income tax, especially seeing the high end market on fire where hefty taxes are paid to states up north, you can bet your behind these buyers are going to establish residency and save dough. They’d be insane not to.

People get old, but we can’t ignore the shifting demographic relocating in what seems to be en masse. It ain’t all retirees anymore - those relying on SS certainly are not buying $10m homes on Miami Beach, Fort Lauderdale, Boca Raton, Palm Beach etc. These are the people who are keeping their homes in your Dariens while CT loses out on the boatload of cash they paid prior to relocation.

Perhaps that’s why Jay noted earlier in the thread CT isn’t lowering taxes despite the healthy rainy day fund.

[JayCT]

Originally Posted by SteveM85

How? the 182 Days crowd is retired or not working full-time anyway. RMDs or Soc Sec aren't breaking the bank for the state
Full-timers are pouring in from NY and NJ hand over fist. Playing musical chairs with limited housing inventory. Remote tribes in Papua and New Guinea even know about this.

Actually what I’m seeing with Snowbirds is that they realize they aren’t saving that much by staying in Florida for that long. If they go down in September, they miss some of our best weather and color in the fall. Then come the holidays they don’t want to miss with family. After that there come things like birthdays, graduations, religious events and holidays. 183 days is a long time to be away from our state if you still have strong ties here. It gets very hard to avoid the horrible heat and humidity of the summer. And for what? To save a couple bucks? Connecticut has revised its taxes on Social Security and retirement income so that the first $75,000 for an individual and $100,000 for a couple is exempt from state tax. That’s pretty significant. The days of retiring out of state solely to save on taxes really are over. It’s now really just for weather. Jay

https://ctsenaterepublicans.com/2020...ng-your-taxes/

[CTartist]

Originally Posted by kidyankee764

It was in response to “Just because you see a lot of people BUYING in FL doesn't mean all their money went with them.” which is, in 2021, quite false.

I guess you don't know a lot of people who turn over all assets to their children then. Just about everyone I know does that and the money is technically still in CT with their children.


So if all this money is down in Florida how do you account for this? Where is all the money?

GDP Per Capita (current dollars 2019)
#3 CT 81,055........in 2011 CT was #3
#39 FL 51,745.......in 2011 CT was #39
https://en.wikipedia.org/wiki/List_o...GDP_per_capita


So where is all the money flowing into FL from CT. Shouldn't FL be way higher than #39 and #3 CT should be much lower?

For every wealthy snowbird I know moving to FL (with a property in CT and FL) I know 3 or 4 people moving down there who can't afford CT anymore and hardly have any money in retirement. Don't you think that is why FL is staying basically flat and CT is still in the top 5?

[kidyankee764]

Originally Posted by CTartist

I guess you don't know a lot of people who turn over all assets to their children then. Just about everyone I know does that and the money is technically still in CT with their children.


So if all this money is down in Florida how do you account for this? Where is all the money?

GDP Per Capita (current dollars 2019)
#3 CT 81,055........in 2011 CT was #3
#39 FL 51,745.......in 2011 CT was #39
https://en.wikipedia.org/wiki/List_o...GDP_per_capita


So where is all the money flowing into FL from CT. Shouldn't FL be way higher than #39 and #3 CT should be much lower?

For every wealthy snowbird I know moving to FL (with a property in CT and FL) I know 3 or 4 people moving down there who can't afford CT anymore and hardly have any money in retirement. Don't you think that is why FL is staying basically flat and CT is still in the top 5?

50-60 year olds aren’t “turning over their assets” to their 30 year old children. Again, the days of only 75 year olds moving to FL are gone. A 50-60 year old couple relocating part time to FL still has a healthy income and hasn’t turned over a dime to those in their will.

You’re looking at stats and drawing interesting conclusions from it. So many more factors come into play than what you’re suggesting. Numerous articles have shown insane income increases in many areas of FL, and home prices in my area (Palm Beach/Broward County) has seen home prices double in the last decade. There is a reason for that.

Anyway, don’t want to keep going on and on about CT vs FL, but CT does need tax stabilization to ensure younger residents stay. This has been an issue for decades though.

[SteveM85]

Originally Posted by JayCT

Actually what I’m seeing with Snowbirds is that they realize they aren’t saving that much by staying in Florida for that long. If they go down in September, they miss some of our best weather and color in the fall. Then come the holidays they don’t want to miss with family. After that there come things like birthdays, graduations, religious events and holidays. 183 days is a long time to be away from our state if you still have strong ties here. It gets very hard to avoid the horrible heat and humidity of the summer. And for what? To save a couple bucks? Connecticut has revised its taxes on Social Security and retirement income so that the first $75,000 for an individual and $100,000 for a couple is exempt from state tax. That’s pretty significant. The days of retiring out of state solely to save on taxes really are over. It’s now really just for weather. Jay

https://ctsenaterepublicans.com/2020...ng-your-taxes/

Originally Posted by kidyankee764

I don’t know about your social circle, but we’re saving a ton on income tax. Many thousands. We are not saving on property taxes or homeowners, and the prices for prime real estate down here rival lower Fairfield County. We have found south Florida to be quite expensive, but while the Northeast is dealing with six months of gray looking at sticks, I’m hosing off my Whaler docked next to my pool. It’s all about the lifestyle.

CT has a very porous border. It's like swiss cheese with all the people moving in and out. Hard to quantify anything. Lots of moving parts, literally. It's complicated.
CT winters are manageable and fine during FT employment. You navigate your way around winter weekends, but 24/7 retirement Thanksgiving to March, I can see that wearing you thin. Skiing and New Haven pizza and museum visits only go so far. You can hang around Brandford Town Hall I guess, make some new friends. Whatever works, I don't know.
I don't travel for birthdays and graduations. Only deaths and Christmas. A wedding?? don't even think about calling or sending an invite, save the postage stamp for someone else.
Biscayne Bay? Tampa Bay? Mission Bay? We'll see.

[beach43ofus]

Originally Posted by SteveM85

See. This is what happens when I try and go head to head with Miami Vice. I get run over like a freight train.
Well done, but I thought we were talking about retirees, as was originally presented by City Data maven CTArtist.
Maude and Betty's aren't going anywhere. People still get old.

50+ 'ers are leaving CT moreson thn <50 year olds, but its not all oldsters leaving.

The Hedge Fund Billionaires have been leaving the Northeast and changing their residence to Florida.

I know most of them came from New York, but I'm not sure if any moved down here from CT. I read where CT has 14 Billioanires, and like 10 of them were Hedge Funders, or worked in a related financial niche. They can easily move.

Those 14 pay a huge amount of CT's taxes when you add their personal taxes, to the corp taxes, to their employees taxes. If they left, CT would certainly feel it.

https://nationalinterest.org/feature...navirus-178496

https://www.businessinsider.com/weal...-taxes-2020-11

You could easily change the words New York in this titles to CT, and the same would apply...leaving due to taxes, & having adverse impact upon their former states economic climate.

[Henry10]

Originally Posted by CTartist

LOL Italians were some of the biggest socialists when they came to the US and many are still socialist in Italy now........... and the French are some of the biggest socialists NOW lol.

"I discovered that the left, which has always played, and still plays, an important role in Italian politics........ The book shows that, despite their present conservative image, Italian Americans have a vibrant and rich radical past."

https://monthlyreview.org/2006/01/01...cal-experience

When my ancestors came to the US the Americans then where saying THE SAME THINGS about them that the right wing media is saying about immigrants today. Do you realize that one of the biggest lynching in the US was against Italians?

"As he lay dying, a witness asked him who did it. “Dagoes,” he reportedly whispered, using a slur for Italians..........But many Americans, swept up on a tide of anti-immigrant sentiment, applauded the killings........The lynchings were the most violent expression of anti-Italian feeling in America"

Same ole s***.......different generation of bigots.

Western civilization is a rebelling civilization. especially Americans, especially in the last few centuries, since Enlightenment. Open a history book, read the first two pages, and you will see.

Western civilization (especially Americans) rebel against a central authority, while most other civilizations are ok with being subjects, and allow a centralized state rule over them. If you traveled the world you would see this very clear. Most nations where these immigrants are coming from have not yet emancipated. They come here and fuel further the dependency policies. It's the same old mindset.

This is the biggest difference between your and my grandfathers and most current immigrants. If you understood history, philosophy and traveled the world you could relate to what I am telling you.