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Old 04-30-2021, 07:11 PM
 
34,037 posts, read 17,056,322 times
Reputation: 17198

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Quote:
Originally Posted by GeoffD View Post
Massachusetts had 42.3% GDP growth.
That is phenomenal.

 
Old 04-30-2021, 08:01 PM
 
21,618 posts, read 31,197,189 times
Reputation: 9775
Quote:
Originally Posted by JayCT View Post
Oh my God, that was my impression too but I thought I was being an east coast snob. I have a family friend that lived there for over 30 years who agreed with me as well. That’s why he retired back here in Connecticut. Jay
Nope - although there is plenty of that on the east coast. Upstate NY, ME, PA, VA, NC, GA, SC, northern inland FL. No thank you.

But WA felt barren. It was very weird.
 
Old 04-30-2021, 08:17 PM
 
Location: Connecticut
34,926 posts, read 56,924,455 times
Reputation: 11220
Quote:
Originally Posted by GeoffD View Post
Massachusetts had 42.3% GDP growth.
I’m not sure where you got that figure but I think it is incorrect. Please provide the source.

The figures we’ve been looking at are old, dating back two or more years. Let’s look at 2020. In 2020 the US GDP shrank by 3.5%. Connecticut’s economy shrank by 4.1% which was better than New York’s (-5.9%) and Rhode Island (-4.5%) and only marginally worse than Massachusetts (-3.8%). In fact, in the fourth quarter of 2020, Connecticut’s economy grew at the 4th fastest rate in the country (+7%). So what does all this show? Just what I’ve been saying, NOT MUCH. We still have among the highest per capita GDP’s in country. Jay

https://www.courant.com/business/hc-...y74-story.html
 
Old 04-30-2021, 08:28 PM
 
Location: USA
6,899 posts, read 3,738,611 times
Reputation: 3499
Quote:
Originally Posted by kidyankee764 View Post
Nope - although there is plenty of that on the east coast. Upstate NY, ME, PA, VA, NC, GA, SC, northern inland FL. No thank you.

But WA felt barren. It was very weird.
The west's vast, untouched wilderness is it's heart and soul. It's breathtaking and majestic.
It's just not the same in the east.
 
Old 05-01-2021, 05:29 AM
 
Location: Ubique
4,317 posts, read 4,205,117 times
Reputation: 2822
Quote:
Originally Posted by JayCT View Post
If this was true, then only Fairfield County would be affluent. Every county in Connecticut has income levels above the US average. If what you claim was true that would not be the case. Jay
For median income, comparing CT to US average is kinda useless. Over 90% of counties and states are low cost, low income. Countless counties in the country are $ 20-30k/year median household income.

In CT, based on US Census, 9 out of 10 top income towns are in Fairfield Co. Of course it skews upward CT's median income.

https://www.courant.com/news/connect...htmlstory.html

On another source, I figured CT's median income (without FFC) to be around $ 73k. FFC's is $ 89k.

https://patch.com/connecticut/across...ome-nationally
 
Old 05-01-2021, 07:44 AM
 
Location: Fairfield County CT
4,453 posts, read 3,346,956 times
Reputation: 2780
Quote:
Originally Posted by kidyankee764 View Post
Here is a list of GDP growth rates by state:

https://worldpopulationreview.com/st...rowth-by-state
We have been over this before ad nauseam. When you have lower incomes you have a lot of room to "grow".

GDP Per Capita measures real wealth*.
Let's look at this chart again. This is a long span.
https://ssti.org/blog/useful-stats-c...duct-1998-2018

1998......................2018
#4.........................#1 NY
#8.........................#2 MA
#1.........................#3 AK
#4.........................#4 CT (The land of education and steady habits)
#18.......................#5 CA (Tech boom baby)

#14.......................#15 TX
#31.......................#37 TN
#34.......................#41 FL (what is so great about this?)
#24.......................#35 NC
#40.......................#46 SC

This is all a tortoise and hare thing. To measure "growth" in one year or a few years is not smart. So all of those people moving down south who don't want to pay taxes to educate the kids. What is that ultimately doing in the long run? Of course those state have growth because the peak of the baby boomers are now moving down south.

*Household is not a true measure. In many states I bet the elderly are living with their kids in one household. I told my mom "move in with me".....she said "no I have the money and I want my own condo". If my mom was with me, my household would have a lot more money. Also how many people picking crops and working on farms down south and all living in one household etc. You need to measure what is going on my PER CAPITA.

Last edited by CTartist; 05-01-2021 at 08:18 AM..
 
Old 05-01-2021, 08:38 AM
 
Location: Northeast states
14,053 posts, read 13,929,555 times
Reputation: 5198
Quote:
Originally Posted by CTartist View Post
We have been over this before ad nauseam. When you have lower incomes you have a lot of room to "grow".

GDP Per Capita measures real wealth*.
Let's look at this chart again. This is a long span.
https://ssti.org/blog/useful-stats-c...duct-1998-2018

1998......................2018
#4.........................#1 NY
#8.........................#2 MA
#1.........................#3 AK
#4.........................#4 CT (The land of education and steady habits)
#18.......................#5 CA (Tech boom baby)

#14.......................#15 TX
#31.......................#37 TN
#34.......................#41 FL (what is so great about this?)
#24.......................#35 NC
#40.......................#46 SC

This is all a tortoise and hare thing. To measure "growth" in one year or a few years is not smart. So all of those people moving down south who don't want to pay taxes to educate the kids. What is that ultimately doing in the long run? Of course those state have growth because the peak of the baby boomers are now moving down south.

*Household is not a true measure. In many states I bet the elderly are living with their kids in one household. I told my mom "move in with me".....she said "no I have the money and I want my own condo". If my mom was with me, my household would have a lot more money. Also how many people picking crops and working on farms down south and all living in one household etc. You need to measure what is going on my PER CAPITA.
Miami area and Tampa that about it
 
Old 05-01-2021, 10:08 AM
 
Location: Connecticut
34,926 posts, read 56,924,455 times
Reputation: 11220
Connecticut tax revenue continues to surge and it’s now to the point that our Rainy Day Fund is approaching a mind boggling $4 billion.

https://www.courant.com/politics/hc-...upi-story.html

What’s driving me nuts is that despite this, our State Legislature continues to talk about tax increases. What the heck? The state needs to stop this and just live within their already generous means. They are getting push back from businesses. Instead of tax increases, they should be talking tax cuts.

I encourage everyone to write their Legislators demanding they stop raising taxes already. I have. Jay

https://www.courant.com/business/hc-...oem-story.html
 
Old 05-01-2021, 10:31 AM
 
21,618 posts, read 31,197,189 times
Reputation: 9775
Quote:
Originally Posted by JayCT View Post
Connecticut tax revenue continues to surge and it’s now to the point that our Rainy Day Fund is approaching a mind boggling $4 billion.

https://www.courant.com/politics/hc-...upi-story.html

What’s driving me nuts is that despite this, our State Legislature continues to talk about tax increases. What the heck? The state needs to stop this and just live within their already generous means. They are getting push back from businesses. Instead of tax increases, they should be talking tax cuts.

I encourage everyone to write their Legislators demanding they stop raising taxes already. I have. Jay

https://www.courant.com/business/hc-...oem-story.html
I can’t view either Courant article (subscription required) - what tax increases is the state still proposing? That’s ludicrous if it’s unneeded.
 
Old 05-01-2021, 10:35 AM
 
2,695 posts, read 3,489,117 times
Reputation: 1652
Quote:
Originally Posted by JayCT View Post
Connecticut tax revenue continues to surge and it’s now to the point that our Rainy Day Fund is approaching a mind boggling $4 billion.

https://www.courant.com/politics/hc-...upi-story.html

What’s driving me nuts is that despite this, our State Legislature continues to talk about tax increases. What the heck? The state needs to stop this and just live within their already generous means. They are getting push back from businesses. Instead of tax increases, they should be talking tax cuts.

I encourage everyone to write their Legislators demanding they stop raising taxes already. I have. Jay

https://www.courant.com/business/hc-...oem-story.html
I have to agree! This moment CT has here is like no other. Money in the bank, crisis around us but we look like a beacon of light and perfect location. Set it on black and let it ride. Lower taxes (even sales tax by a small amount) the optics of it will make the northeast look twice at CT as a power house. I just saw two articles that said CEO of CT companies are already complaining about the taxes and the threat of leaving CT. One thing to remember is that this pandemic shows that offices and a main central Hub isn’t really needed. You can work from anywhere and be productive.

Remember pigs get fed, hogs gets slaughtered. Take the W and keep this momentum. Let’s not get too greedy.
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