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> Will a millionaire move from Long Island to Conn. to lower hes taxes? In general no. I'm not sure why you don't think they would. It's not as though lots of
by Kadin 18y ago
> Will a millionaire move from Long Island to Conn. to lower hes taxes? In general no.
I'm not sure why you don't think they would. It's not as though lots of people don't already commute from CT and NJ into New York. There's commuter rail, and probably less traffic than you'd get on Long Island.
CT's southwestern towns in particular used to have a reputation as the suburb for the wealthy (the so-called "Gold Coast" area), in large part because it didn't have any personal income tax at all. That's no longer the situation, but if NY decides to play the class-warfare game, the rich can take their money elsewhere quite easily.