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Old 12-13-2014, 10:59 AM
 
2,362 posts, read 2,186,024 times
Reputation: 1379

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Quote:
Originally Posted by blakesq View Post
Please explain the cognitive dissonance with: "My friends are moving to Florida because they can't afford to live here, the economy stinks. It used to be an economically vibrant place."
If the economy was doing as poorly as being portrayed property values and regional COL (of course excluding things set by global markets) would be going down sharply, the fact is that there are people that CAN afford the expensive housing and COL. There are numerous examples of the opposite happening: Cleveland area, Detroit, the ghost towns of Western Texas, NE after each energy sector downturn. Truth is, there are people that are making serious money and there are enough of them that want to live in CT that it keeps pushing prices higher. What that woman was complaining about was being victim of gentrification which she (from the article appeared, I am making an assumption but a safe one I'm sure) benefited for a good amount of time.

I get her concern, but this is what many people have been complaining about for 20 years! Just because its' hitting the bottom tier of the top 10% we should bang on the alarms? No. Is this just a CT issue? Not in the least.

 
Old 12-14-2014, 12:51 PM
 
2,695 posts, read 3,490,263 times
Reputation: 1652
People are talking about income inequality around the country. Looks like CT #1 in this unfortunate category. America's 10 most unequal cities - Dec. 14, 2014

The top 20% wealthiest households hold 60% of the wealth. Receipt for disaster once these families grow old and move out.
 
Old 12-14-2014, 01:24 PM
 
Location: Connecticut
34,937 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by Mr_250 View Post
People are talking about income inequality around the country. Looks like CT #1 in this unfortunate category. America's 10 most unequal cities - Dec. 14, 2014

The top 20% wealthiest households hold 60% of the wealth. Receipt for disaster once these families grow old and move out.
Of course places like New York and Fairfield County have great disparity in income. These areas have a lot of wealth. What does one expect? Is it really that big of a deal? Jay
 
Old 12-14-2014, 02:18 PM
 
2,695 posts, read 3,490,263 times
Reputation: 1652
Quote:
Originally Posted by JayCT View Post
Of course places like New York and Fairfield County have great disparity in income. These areas have a lot of wealth. What does one expect? Is it really that big of a deal? Jay
I'm sorry but I do think this will be a problem. I think hartford area is perfect in terms of wealth. We have towns like Glastonbury/west hartford who have high incomes and then towns like Newington/Berlin which have lower income but are good safe towns with decent schools.

The fact that FFC is either you are a millionaire or you are poor can not be good for the future. True people are still moving to FFC so it is very desirable but when 20% of the homes own 60% of the wealth one little recession could take down FFC.

Hartford County>Fairfield County
 
Old 12-18-2014, 11:40 AM
 
2,695 posts, read 3,490,263 times
Reputation: 1652
Seen this before...
Step 1: Furlough Workers for "cost savings"
Step 2: Cut Staff
Step 3: Move majority of employees to low cost area or automate. Either case CT losses workers.

Pratt & Whitney Will Furlough Workers In 2015 To Cut Costs - Hartford Courant

Carrier/Otis, Sikorsky and other divisions will be on the chopping block in Q12015. Once they sell, UTX no longer owns them in which case they will move. Mark my words. Go read the transcript from the Stockholders meeting with the new CEO.

So, CT gives them $440m in credit and in turn they furlough 66% of their staff for 7 days. Good job Dannel Malloy! Does CT still collect income tax for the furlough days? 9000 x .66 = 5940ppl furloughed for 7 days. Ouch, that's some decent income tax revenue lost.
 
Old 12-18-2014, 11:56 AM
 
3,435 posts, read 3,945,234 times
Reputation: 1763
Quote:
Originally Posted by Mr_250 View Post
Seen this before...
Step 1: Furlough Workers for "cost savings"
Step 2: Cut Staff
Step 3: Move majority of employees to low cost area or automate. Either case CT losses workers.

Pratt & Whitney Will Furlough Workers In 2015 To Cut Costs - Hartford Courant

Carrier/Otis, Sikorsky and other divisions will be on the chopping block in Q12015. Once they sell, UTX no longer owns them in which case they will move. Mark my words. Go read the transcript from the Stockholders meeting with the new CEO.

So, CT gives them $440m in credit and in turn they furlough 66% of their staff for 7 days. Good job Dannel Malloy!
UTX is a conglomerate. Unless they are planning on breaking up the company (which is certainly possible), why would they sell a bunch of their subsidiaries all at once?
 
Old 12-18-2014, 11:57 AM
 
2,695 posts, read 3,490,263 times
Reputation: 1652
As a follow up...Connecticut's Economy is Booming according to some.

Connecticut Economy Booming: Best Year Since 1997 - CTnow

CT added 4600 jobs in November and hourly wages are up.

Connecticut seems to be back on track for a great 2015.

</half sarcastic - half hoping/>
 
Old 12-19-2014, 10:10 PM
 
Location: Northern Fairfield Co.
2,918 posts, read 3,231,092 times
Reputation: 1341
Quote:
Originally Posted by JayCT View Post
I have not heard this. Historically the gas tax is the hardest to raise. Given that the price of gas has dropped it may be easier now. Still I am not sure it can be done unless it is strictly dedicated to transportation funding. Jay
100% true. Last significant state of Ct tax hike in CT took place in 2013 (around 5 cents pg). Our state is one of the most expensive for gasoline (I think 2nd most expensive out of the 50) BECAUSE of TAXES. For me personally it translates into paying an invisible/unaccounted/ADDITIONAL $500/year in taxes to this "Great State." #ThankYouSirMayIHaveAnother...

Last edited by Lalalally; 12-19-2014 at 10:21 PM..
 
Old 12-20-2014, 10:21 AM
 
2,362 posts, read 2,186,024 times
Reputation: 1379
Quote:
Originally Posted by Lalalally View Post
100% true. Last significant state of Ct tax hike in CT took place in 2013 (around 5 cents pg). Our state is one of the most expensive for gasoline (I think 2nd most expensive out of the 50) BECAUSE of TAXES. For me personally it translates into paying an invisible/unaccounted/ADDITIONAL $500/year in taxes to this "Great State." #ThankYouSirMayIHaveAnother...
We don't have local sales taxes though, and we don't tax groceries and other necessities. The tax man gets his pound of flesh in one way or another, CT just happens to be a bit more up front about it (and does take a marginal higher amount). What's been going on in the country is that apples-to-apples comparisons have been equalizing out with localities in most states hiking up taxes to make up the shortfall from Federal and State governments.
 
Old 12-23-2014, 08:34 AM
 
2,695 posts, read 3,490,263 times
Reputation: 1652
Connecticut economy looks like it will be booming in 2015! I think the Hartford Metro area will be a BIG winner this coming year. Businesses and people have gained a good amount of confidence. Stamford will continue to grow but my prediction is Hartford Metro is going to take-off. With the addition of the Busway, Front Street a couple thousand apartments and TWO major universities moving to DT PLUS the new Stadium. Hartford will be among the TOP UP&COMING Metro Areas in the United States.

Hartford Business Journal

Connecticut has some a GREAT future for 2015.
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