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[QUOTE="UConnJim, post: 1338449, member: 1559"]
I think people have forgotten what put Connecticut on the map for corporations in the late 1960s/1970s.  Up until 1991, Connecticut did not have an income tax which put Connecticut at a competitive advantage to neighboring states of NY, NJ, and Massachusetts for corporate headquarters and companies moved to (or stayed in) Connecticut.  Since the income tax was implemented in CT in 1991, there has been no net job growth and the state has lost residents.

Sure, Fairfield County has done really well as the hedge fund managers have moved in.  But, the cost advantage of being in CT is being whittled away and financial types who go to conferences in NYC now have to pay NY state income taxes if they are in NY more than ~ 10 days (I forget the exact number) in a given year.  Since the high earners in CT pay most of the income taxes, CT has to be careful to keep them.  I think the top 1% pay 40% of Connecticut's income taxes.

End of the day, people are moving to and jobs are being created in low tax states.  If you want a state to grow, you need to lower taxes and not increase them.
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