Sunday, June 09, 2019

Want To Save $100,000. Move Out Of Connecticut.

There are many ways to save money.  One way for Connecticut Taxpayers to save money is by moving out of state.
Young couples starting out can save a great deal of money by moving out of state. 
For example a young couple buying a $250,000 house in Connecticut depending on which town it is in will pay anywhere from $4500 to $7500 in property taxes along with $400 to $800 in property taxes on their cars.  If they bought that same house in South Carolina, Florida or Tennessee their property taxes would be from $1000 to $2000 and depending on the state no property taxes on their cars.  Florida has no state income tax thus the couple would save an additional $6000 to $10,000 a year depending on their income levels.  Thus in a ten year period or less a young couple by moving out of Connecticut can save $100,000 or more depending on which state they move to.  In a 30 year time frame the couple has potential savings of $300,000 or more by moving out.
A couple retiring may move out of state also to save money.  There is little financial incentive to stay in Connecticut since retirees will be paying the same amount of property taxes as if you were working along with state income taxes on your pensions (if you have one) and social security.  The savings on your property taxes alone by moving out of the state could be $100,000 in a ten year or less time period also.
As much as the current state budget which again raises taxes on many items and income is painted as yet another cure all for Connecticut's government spending and nepotism problems it is creating more and more examples of what I have just stated to occur.  More and more people will move out of Connecticut to save money.  Connecticut continues to have a net migration out of the state that will only accelerate with this current Taxpayer be damned budget that was passed.  The current Connecticut tax system is an entrapment that has created a serfdom in the state.  We as Taxpayers are serfs in the political serfdom that has been created to benefit those in political power.  Connecticut Taxpayers work for our state government to maintain its excesses.
Governor Lamont seems to be following in the Weicker and Malloy footsteps of lying to get elected and raise spending and taxes.  He is a political puppet of the Connecticut Democrat Party especially its economically irrational progressive wing.
If you want to save money and have a better quality of life move out of Connecticut.  I know many who have and will do in the future.  it is obvious that our state government is only concerned about their ruling class not its legal working citizens.

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