Cato Study Finds Connecticut Lost $2.6 Billion to Out-Migration in 2016
October 29, 2018Neighbors,
Despite what some officials may say, this study from the Cato Institute proves that high taxes and the high cost of living is driving people and money out of Connecticut. Part of the article and a link to read it in full are below.
Connecticut saw a net loss of $2.6 billion to other states in 2016, and those migrating into the state earned only 55 percent of those who left, according to a study from the Cato Institute.
The study comes as Connecticut nears an election which is focused heavily on the state’s hefty tax burden.
Connecticut saw a net loss of 12,254 tax filers – the sixth highest loss in the country.
The study was based on Internal Revenue Service data and showed Connecticut had the largest earnings divide in the country between those moving out and those moving into Connecticut.
To read the piece in its entrirety, click the link below.