Connecticut contains a mere 1 percent of the total national population across fifty states, but its metropolitan areas occupied three spots in 24/7 Wall Street’s list of cities residents are fleeing.
Connecticut ranked 43rd in the country in Wallethub’s annual ranking of Best and Worst States to Start a Business.
The Commission on Fiscal Stability and Economic Growth — composed of Connecticut CEOs and business owners — released their much-anticipated recommendations today at the Capitol, which included a combination of tax increases, tax cuts, tolls and a $15 minimum wage.
It’s easy to see the rationale behind the deal. How could offering pasty-faced Connecticut residents direct flights to Ireland fail to rake in the cash? But things didn’t quite take off as expected so now, along with buses and trains, Connecticut is subsidizing airline travel — a sort of public transportation system for the sky.
Despite the Commerce Department’s report that Connecticut’s economy had grown 3.9 percent during the third quarter, the state’s economy has actually shrunk over the past year.
Newly released data from the Internal Revenue Service shows a record loss of high-income tax filers and their families in 2015 following the state’s second largest tax increase. A total of $2.6 billion in adjusted gross income was lost to other states as Connecticut experienced a net loss of roughly 20,179 residents.