Connecticut’s Painful Journey: Wealth Squandered, Lessons Learned, Promise Explored

Share on Facebook
Share on Twitter
Share on
LinkedIn
+

Host Joe Selvaggi talks with Connecticut Business and Industry Association’s President and CEO, Chris DiPentima, about what policy makers can learn from Connecticut’s journey from the wealthiest state in the nation, to one with more than a decade of negative job growth.

Guest:
Chris DiPentima is the president and CEO of CBIA, Connecticut’s leading business organization, with thousands of member companies, small and large, representing a diverse range of industries from every part of the state. He chairs the Connecticut Manufacturers’ Collaborative and serves on the boards of the Connecticut Manufacturing Innovation Fund, Middlesex Chamber of Commerce, and Middlesex Community College Advisory Board. DiPentima has a bachelor’s degree from Boston College and received his juris doctorate from Quinnipiac Law School.

 

Related:

New Study Shows Significant Wealth Migration from Massachusetts to Florida, New Hampshire

Boston Herald:

Taxes driving wealth out of Massachusetts and into Florida, New Hampshire: report

Editorial: Wealthy have options to avoid tax hikes 

The Boston Globe: Massachusetts is losing wealthy residents to states with no incomes taxes, such as New Hampshire and Florida

The Bond Buyer: Massachusetts sees wealth exodus

Get Updates on Our Economic Opportunity Research

Related Content

Amar Sawhney on Sikhs, STEM & COVID

On this week's episode of JobMakers, host Denzil Mohammed talks to Dr. Amar Sawhney about his journey from India to Boston, and how he is using his chemical engineering background to save lives through remarkable local therapy innovations. To date, he has founded eight companies accounting for 4,000 jobs and more than $2 billion in revenue.

Study Says Interstate Tax Competition, Relocation Subsidies Exacerbate Telecommuting Trends

A spate of new incentive and subsidy programs seeking to lure talented workers and innovative businesses away from their home states could constitute an additional challenge to Massachusetts’ economic and fiscal recovery from COVID-19, according to a new study published by Pioneer Institute.

Max Faingezicht on the Skills Gap & the Future of Work

This week on JobMakers, host Denzil Mohammed talks with Max Faingezicht, an immigrant who founded ThriveHive, a marketing software company for small businesses, and Telescoped, which uses remote software engineering to connect Latin American engineers with U.S. companies in need of their skills. The entrepreneurial ecosystem of Boston and Cambridge have allowed Max to achieve dreams he didn’t even know he had when he arrived. In this episode, he shares his fascinating immigration story, as well as his ideas on where workers go next.

7 Reasons to Reject the Graduated Tax and Instead Focus on Growing Jobs

Pioneer Institute's Statement before the Joint Committee on Revenue In Opposition to: HB 86 (Pages 1-4), a legislative amendment to the Constitution to provide resources for education and transportation through an additional tax on incomes in excess of one million dollars.

Study Warns Massachusetts Tax Proposal Would Deter Investment, Stifling the “Innovation Economy”

A state constitutional amendment promoted by the Massachusetts Teachers Association and the Service Employees International Union adding a 4 percent surtax to all annual income above $1 million could devastate innovative startups dependent on Boston’s financial services industry for funding, ultimately hampering the region’s recovery from the COVID-19 economic recession, according to a new study published by Pioneer Institute.

Hilda Torres Makes the Grade

This week on JobMakers, host Denzil Mohammed talks with Hilda Torres, an immigrant from Mexico who runs My Little Best Friends Early Learning Center in Malden, Massachusetts. One of the most successful businesses in the city, the center enrolls over 100 students whose parents come from more than 25 different countries. In this episode, Hilda shares how she used the tools of education, and her own grit and determination, to make her mark in the land of opportunity.

Study Shows the Adverse Effects of Graduated Income Tax Proposal on Small Businesses

The state constitutional amendment promoted by the Massachusetts Teachers Association and the Service Employees International Union to add a 4 percent surtax to all annual income above $1 million will adversely impact a significant number of pass-through businesses, ultimately slowing the Commonwealth’s economic recovery from COVID-19, according to a new study published by Pioneer Institute.

Hong Tran Goes from Refugee to Realtor

This week on JobMakers, host Denzil Mohammed talks with Hong Tran, a Worcester, Massachusetts-based realtor and small business owner who emigrated to America as an orphaned refugee from Vietnam.

Sandro Catanzaro Takes His American Dream to Mars and Back

This week on JobMakers, host Denzil Mohammed talks with Sandro Catanzaro, who started several businesses in his native Peru but had no idea he’d end up helping NASA go to Mars, or that he’d use that same technology to plan and buy video ad campaigns. Now Head of Publisher Services Strategy for Roku, which acquired the company he founded, dataxu, in 2019, Mr. Catanzaro is an emblem of ingenuity and inventiveness. His demand-side platform, device graph technology and analytics platform help accelerate Roku’s ad tech roadmap and ability to serve a wide array of advertisers. But he’s not done yet!

Study: Graduated Income Tax Proposal Fails to Protect Taxpayers from Bracket Creep

The state constitutional amendment proposed by the Service Employees International Union and the Massachusetts Teachers Association to add a 4 percent surtax to all annual income above $1 million purports to use cost-of-living-based bracket adjustments as a safeguard that will ensure only millionaires will pay. But historic income growth trends suggest that bracket creep will cause many non-millionaires to be subject to the surtax over time, according to a new study published by Pioneer Institute.

Pioneer Institute, The Immigrant Learning Center Co-Produce New Weekly Podcast

Pioneer Institute is pleased to announce the launch of JobMakers, a new weekly podcast that explores the world of risk-taking immigrants who create new products, services, and jobs in New England and across the United States. JobMakers is produced in collaboration with The Immigrant Learning Center (ILC) of Malden, MA.

Christina Qi Goes From Welfare to Wall Street 

This week on JobMakers, Host Denzil Mohammed talks with Christina (Chi) Qi, who started a hedge fund at just 22. They discuss her background and journey, moving with her family from China to Utah, being on welfare, and then attending MIT. She went on to co-found Domeyard, a quantitative trading firm, in 2013, among the longest running high-frequency trading hedge funds in the world, and was trading up to $7 billion dollars a day. In 2019, she founded Databento, an on-demand data platform for asset managers and quantitative analysts. They discuss how being an immigrant, Asian, and a woman in the cutthroat, male-dominated world of Wall Street didn’t deter her from success.

New Study Warns Graduated Income Tax Will Harm Many Massachusetts Retirees

If passed, a constitutional amendment to impose a graduated income tax would raid the retirement plans of Massachusetts residents by pushing their owners into higher tax brackets on the sales of homes and businesses, according to a new study published by Pioneer Institute. The study, entitled “The Graduated Income Tax Trap: A retirement tax on small business owners,” aims to help the public fully understand the impact of the proposed new tax.

Herby Duverné Keeps Americans Safe & Gives Back

Welcome to JobMakers, a new, weekly podcast, produced by Pioneer Institute and The Immigrant Learning Center. Host Denzil Mohammed explores the world of risk-taking immigrants, who create new products, services and jobs in New England and across the United States. In the debut episode, Denzil talks with Herby Duverné, CEO at Windwalker Group, an award-winning small business with more than 25 years of experience in physical and cybersecurity solutions that protect and prepare companies through custom learning and training solutions.