January 3rd marks a very historic day. Not because it marks the day the paper drinking straw was patented. It was historic because it tells of how out of touch Bob Duff is. On the third, the Hartford Courant put forth a devastating analysis of IRS tax returns summarizing how in one year the net migration in vs. out of Connecticut will cause an estimated $100 million loss in income tax revenue to the State. Contrast the very insightful analysis with Bob’s January 3rd press release about the winter storm coming. Financial storm vs. a snow storm.
The Courant looked at IRS data by state comparing Adjusted Gross Income “AGI” inflow and outflow from 2015-2016. On average, those who left Connecticut took $123,000 in AGI while those who moved in brought only $93,000, a massive $33,000 loss per filer. Based on tax collection rates, that translates to a crushing $100 million loss of income tax revenue IN ONLY ONE YEAR! The number two destination after New York was Florida which had 7,944 filers leave that year with an average AGI of $253,000! Think about that while considering your AGI and that the average AGI for Connecticut is $108,000; clearly we are not replacing the lost AGI.
The IRS data is not poll numbers. The data is not fake news. The IRS data represents hard facts that yet again, clearly articulates the ongoing incredibly dire situation Connecticut is in and how taxing the “rich” is a losing proposition. One article was the facts speaking, one was a politician speaking. Actually, worse – Bob was not speaking, he was pasting because his press release was a cut and paste job of the National Weather Service Map and Report along with some tips. I get it that Bob’s bio says his Norwalk family ties go back five generations and that’s what, 125 winters of experience in the Duff family? However, I highly doubt voters are truly demanding a press release from a politician on the winter storm and how to deal with winter. Please thaw out Bob so you can finally “stand up for us” and set real priorities – we want to hear reality about problems and solutions not the weather.