Shocker: Americans Fleeing High-Tax States for Low-Tax States

This will probably come as a shock to the governors of New Jersey, New York, Illinois and Connecticut, but the numbers don’t lie:

A CNBC analysis of tax data and figures provided by two major national moving companies shows that states with the highest per-capita taxes, for the most part, are also seeing the biggest net migration out of those states. Take Connecticut, for example.

Earlier this week, the Nutmeg State’s legislature approved a collection of new taxes to close a two-year, $40 billion budget to help pay the multibillion-dollar tab to repair and replace the state’s dilapidated roads and bridges. The package includes a 50-cent-per-pack hike in cigarette taxes and a bump in tax rates on corporations and the state’s wealthiest earners.

Earlier this week, the Nutmeg State’s legislature approved a collection of new taxes to close a two-year, $40 billion budget to help pay the multibillion-dollar tab to repair and replace the state’s dilapidated roads and bridges. The package includes a 50-cent-per-pack hike in cigarette taxes and a bump in tax rates on corporations and the state’s wealthiest earners.The budget battle drew heated debate, along with threats from large employers like General Electric, which issued a rare statement that it might consider moving its Fairfield headquarters.

Connecticut used to be a lovely place to live, combining the best of New England’s rural beauty with proximity to both Boston and New York. Today, in the second term of the wretched Dannel Malloy, its residents are fleeing soaring taxes and declining services — the usual symptoms of a blue state in its death throes. But hey — that’s what its voters voted for, more or less.