* Some facts
* CT ranks amongst highest in country for resident tax burden
* CT ranks dead last in the nation for job creation
* CT ranks very poorly as a place to do business in the U.S.
* CT has the 3rd worst debt rating in the nation and on watch for downgrade
* CT state government has underfunded it’s pension liabilities
* CT teacher pension underfunding is amongst worst in the country
* CT state pensions are indexed to grow at 6.9% per year
* While interest rates are 1.5%
* 6.9% is just a random number not indexed to anything
* Four CT cities ranked in top ten worst real estate markets in the nation
* CT has declining state tax revenue
* CT suffers a daily net outflow of residents
* CT talented young see limited job opportunity in the state
* WSJ 3rdApr17
* CT university students are a net outflow from the state in search of jobs
* With the very public exit of large companies from CT, CT is creating a persona of anti private sector
* The recent exit of two billionaires would alone require near 1,800 job created to replace the state taxes they were paying
* CT state government in the largest employer in the state
* Hard to sustain with a declining population and shrinking private sector
* 2017 state pension bill to grow from $1.2b to $6.2b over next 15yrs
* How do you pay this with less taxpayers and less revenue?
* CT has few natural resources to tax
* CT lack’s a major tourism business to tax
* A further kick in the pants is that commuter trains to NYC are the slowest they have been in many years and ranks amongst the slowest of the G7 countries
* This needs to be addressed urgently to attract city people out to the gorgeous CT towns
* Proposed fix
* Increase taxes on fewer residents
* This will only result in more residents deciding to leave the state
* Property values will decline
* Even less people and businesses will consider moving to the state
* Tax revenue will decline further
Current home owners and tax payers don’t want to live in fear of rising property tax, sales tax, income tax, declining services and decaying infrastructure which will simply destroy their equity in their homes.
Our children need to be excited about the future of CT
CT residents - please WAKE UP as the state is headed in the wrong direction
The good thing is the problems can be fixed but they need to be addressed now!
Please join Fiscal ImpaCT on Facebook and join in supporting the movement to save CT
I want CT to be an inspirational story of success not failure.