Posts tagged S.B. 1528
Sen. Fazio to Union Boss ‘Don’t California My Connecticut’
April 12, 2025 // The evidence isn’t anecdotal anymore — it’s a nationwide pattern. According to the Heritage Foundation, “About 2.8 million more Americans moved out of high-tax states than moved to high-tax states between April 2020 and July 2023.” The migration wasn’t limited to CEOs and tech moguls: “This pattern is true of all income groups, though this pattern is especially true of those making $200,000 or more annually.” In fact, between 2020 and 2023, “The 10 states that have the highest taxes as a share of state GDP… lost 2.3 million residents,” while the 10 lowest-taxed states gained over 2.1 million. High-income individuals, the very people targeted by Connecticut’s proposed capital gains surcharge and mansion tax, are by far the most mobile: “There are nearly 60 people making $200,000 or more who move out of high-tax states for every 40 who move in.” These aren’t people looking to dodge minor inconveniences. They’re voting with their feet — despite the high costs of relocation