Connecticut

[Speaker to Animals]

Venezuela is basically the end game of democratic party politics.

[SuburbanFarmer]

Venezuela is basically the end game of party politics.

FIFY

[Speaker to Animals]

2008 Dan Carlin called. He wants his Dan Carlin fallacy back.

[Zlaxer]

CT is really state workers and the underclass vs everyone else. Except everyone else (those who can) are simply leaving.

[Ph64]

What is CT doing that is different from MA?

CT's pension obligation about about to go over 70% of the annual budget - MA isn't even close....Also, CT prop tax is close to double MA.

Just look at Hartford - nothing survives their because the 70+ mil rate.


CT politicians made a bunch of bogus contracts with state workers when times were good - now the bill is coming due and it's going to tear the state apart.

They threatened GE with more taxes, so GE moved their HQ to the Boston area.
Aetna is moving their HQ to NYC.

Yes, some of their other operations will be staying in CT for a while, a lot of GE Capital was spun off to other entities that this far have mostly stayed, but in the longer term... Income taxes keep rising, the wealthier lose out with the federal deduction limits now, they effectively are pushing companies out. And then, for instance when GE announced they were moving to MA it's suddenly a "disaster of lost tax revenue".

[C-Mag]

2008 Dan Carlin called. He wants his Dan Carlin fallacy back.

It was the start of it, but after he got himself an agent he left us for good.

[MilSpecs]

What is CT doing that is different from MA?

CT's pension obligation about about to go over 70% of the annual budget - MA isn't even close....Also, CT prop tax is close to double MA.

Just look at Hartford - nothing survives their because the 70+ mil rate.


CT politicians made a bunch of bogus contracts with state workers when times were good - now the bill is coming due and it's going to tear the state apart.


So - Ned will get elected governor with a DNC senate and house and Prop taxes will go up even more - Prop tax is most regressive tax since it gets passed straight to renters.

State politicians are beholden to state workers who want what they were promised even if it means driving the state off a fiscal cliff. Most state workers leave CT when they retire.

I agree with your conclusions as to how this happened, but I see the end game as the entire tri-state area becoming NYC in that only the wealthy and the poor will be able to live there. Upstate NY, south NJ not commutable to Philly, and northwestern CT are screwed because they get stuck with the taxes but don't get the benefits of living close to NYC.

BTW, half my family still lives in CT (grandmother is from Enfield) and I hope to retire in CT. We are all worried. CT trashed itself not just by overpromising and overhiring, but by turning its cities into segregated ghettos. Hartford and New Haven should have been magnets for people with money and those looking to move up.

The cap on deductions is actually making things worse because we can't suddenly stop paying for the pensions and health benefits, and if the upper middle class leaves that's the end. This has to be managed and it's not unsolvable.

[MilSpecs]

They threatened GE with more taxes, so GE moved their HQ to the Boston area.
Aetna is moving their HQ to NYC.

Yes, some of their other operations will be staying in CT for a while, a lot of GE Capital was spun off to other entities that this far have mostly stayed, but in the longer term... Income taxes keep rising, the wealthier lose out with the federal deduction limits now, they effectively are pushing companies out. And then, for instance when GE announced they were moving to MA it's suddenly a "disaster of lost tax revenue".

GE just announced the sale of one of its aviation divisions. That's their cash cow, so it's surprising to hear they let any of it go.

[Martin Hash]

GE is on the ropes. GE Capital was their poison, and they've never been able to get out from under it.

[Speaker to Animals]

I guess their diversification strategy was a bust.