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Old 05-20-2019, 05:55 PM
 
Location: Connecticut
34,924 posts, read 56,924,455 times
Reputation: 11220

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Quote:
Originally Posted by kidyankee764 View Post
There’s really not a source. You have to take it upon yourself to look up the statistics.

According to Sperling (which is similar to other sources), the New Haven metro cost of living index is 15% higher than the US average (114.5 vs 100).

According to DataUsa, the New Haven metro has a median household income of $66,800, vs $58,000 USA average.

The cost of living difference is 15%. The income difference is 14%. The proof is in the numbers - which says CT’s “high” income is driven by higher salaries due to cost of living, and adjusted, isn’t much different than most states.
Your contention is not nearly as simplistic as you claim. I did look it up and posted two sources that show Connecticut’s income far exceeds its cost of living. Even when COL is considered, it is among the very highest in income. Not sure what more you need. Jay

 
Old 05-20-2019, 06:00 PM
 
21,618 posts, read 31,197,189 times
Reputation: 9775
Quote:
Originally Posted by JayCT View Post
Your contention is not nearly as simplistic as you claim. I did look it up and posted two sources that show Connecticut’s income far exceeds its cost of living. Even when COL is considered, it is among the very highest in income. Not sure what more you need. Jay
The numbers are what they are. We can agree to disagree.
 
Old 05-20-2019, 08:30 PM
 
Location: Connecticut
34,924 posts, read 56,924,455 times
Reputation: 11220
Quote:
Originally Posted by kidyankee764 View Post
The numbers are what they are. We can agree to disagree.
Jay
 
Old 05-22-2019, 07:41 AM
 
1,241 posts, read 902,278 times
Reputation: 1395
People may differ on this matter but, to me, cost of living should definitely factor in income and property taxes. The Money article states that its numbers do not include property or income taxes. Given CT's high property tax burden, I'm guessing if you factor that into the cost of living the real income ranking would drop a bit. Sperling's ranking is, to my way of thinking, a more accurate measure of cost of living versus salary.



Quote:
Originally Posted by JayCT View Post
I questioned the methodology they used for ranking state taxes and gave a different ranking that had different conclusions and said why theirs was flawed. You seem to believe what they say which is why I posted it. I also posted a second more recent source that says basically the same thing. Here it is again in case you missed it. . Jay

Average Income and Cost of Living in Every State | Money
 
Old 05-22-2019, 07:57 AM
 
21,618 posts, read 31,197,189 times
Reputation: 9775
Quote:
Originally Posted by JGBigGreen View Post
People may differ on this matter but, to me, cost of living should definitely factor in income and property taxes. The Money article states that its numbers do not include property or income taxes. Given CT's high property tax burden, I'm guessing if you factor that into the cost of living the real income ranking would drop a bit. Sperling's ranking is, to my way of thinking, a more accurate measure of cost of living versus salary.
Absolutely. Taxes are a huge expense. People don’t realize how big of an expense it actually is until they move to a low tax state.
 
Old 05-22-2019, 08:15 AM
 
Location: Connecticut
34,924 posts, read 56,924,455 times
Reputation: 11220
Quote:
Originally Posted by JGBigGreen View Post
People may differ on this matter but, to me, cost of living should definitely factor in income and property taxes. The Money article states that its numbers do not include property or income taxes. Given CT's high property tax burden, I'm guessing if you factor that into the cost of living the real income ranking would drop a bit. Sperling's ranking is, to my way of thinking, a more accurate measure of cost of living versus salary.
Then how do you explain The Tax Foundation's ranking of Connecticut as No. 4 in COL adjusted disposable income? Jay

https://taxfoundation.org/new-state-...e-differences/
 
Old 05-22-2019, 08:34 AM
 
21,618 posts, read 31,197,189 times
Reputation: 9775
Quote:
Originally Posted by JayCT View Post
Then how do you explain The Tax Foundation's ranking of Connecticut as No. 4 in COL adjusted disposable income? Jay

https://taxfoundation.org/new-state-...e-differences/
Don’t they have a “flawed methodology”?
 
Old 05-22-2019, 08:51 AM
 
Location: Connecticut
34,924 posts, read 56,924,455 times
Reputation: 11220
Quote:
Originally Posted by kidyankee764 View Post
Don’t they have a “flawed methodology”?
Do they? As I pointed out and backed up with another analysis, they did for calculating Connecticut's tax burden. If you feel they do on this, please post why and support it with backup. It would be appreciated. Jay
 
Old 05-22-2019, 08:57 AM
 
21,618 posts, read 31,197,189 times
Reputation: 9775
Quote:
Originally Posted by JayCT View Post
Do they? As I pointed out and backed up with another analysis, they did for calculating Connecticut's tax burden. If you feel they do on this, please post why and support it with backup. It would be appreciated. Jay
They can’t be a waste of a website for something you disagree with, but then a solid source for something you agree with. *shrug*
 
Old 05-22-2019, 09:25 AM
 
1,241 posts, read 902,278 times
Reputation: 1395
How do you explain it? The link to their data set is broken so it can't be reviewed but I'm guessing it does not include property tax in its calculations since it mentions looking at regional price parity. Which means it is not an accurate measure of cost of living versus salary.


Basically you've posted two "supporting" links that don't (or don't appear to) take into property tax burdens which, I think everyone would agree, are higher in CT than just about anywhere else in the country.







Quote:
Originally Posted by JayCT View Post
Then how do you explain The Tax Foundation's ranking of Connecticut as No. 4 in COL adjusted disposable income? Jay

https://taxfoundation.org/new-state-...e-differences/
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