Everyone complains about taxes. But millions of American households apparently are doing something about it: Picking up and moving.
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.
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.View Article