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The Connecticut Department of Revenue Services and Billionaire Surveillance Is Watching You

If "you" are Steve Cohen or a similarly comfortable resident of the state.
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Detecting any needs?

Connecticut’s tax authorities have heard all of the hype from certain sunnier, tax-friendlier climes that its days as the preferred place for the hedge-fund set to rest their heads are numbered. And they have a word for those warnings: “anecdotal.” You know, like the anecdote of the owner of a certain 30,000-plus-square-foot place in Greenwich buying some much smaller digs on the left coast.

Of course, given its otherefforts, it would be irresponsible for the taxmen not to at least be checking in on the half-dozen or so people who could move a few miles north or west and bankrupt the Nutmeg State. And they are. But it’s not like they’re showing up a couple of times a week to shovel the walk, trim the hedges, skim the pool or tune up the Zamboni, or dropping by the office with some light refreshments and Super Duper Weenies, or, failing that, throwing up roadblocks on the Merritt Parkway. I mean, they wouldn’t rule it out….

With one exception, he said, state officials don't actually approach the super-rich. He said: "There isn't friendly visiting or anything like that, how are you feeling? Doing all right? Doing OK?"

Two years ago, tax officials were alarmed that a super-rich hedge fund owner might leave and reduce the state's income tax revenue. They met with the unidentified taxpayer. The effort was partly successful, with the taxpayer's leaving Connecticut but agreeing to keep the hedge fund here.

"It would be nice to have both, but at least we didn't lose both," Sullivan said.

Connecticut Keeps Close Eye On Its Super-Rich Residents [AP via Hartford Courant]


Attention Connecticut Residents: Watch Out For Tire Irons To The Face

Among the many reasons typically cited by hedge fund managers who choose to run their business out of Connecticut instead of New York are: 1. The room to stretch their shit out 2. Proximity to the Long Island Sound 3. Convenience for those already living in the area. Some probably also believe that the Fairfield County is slightly safer than New York City. That you're not going to get jumped walking out of the office or beaten with a tire iron because you messed with someone's man or woman. OR WILL YOU?


Connecticut Politicians May Want To Ask Themselves: Have They Earned A Right To An Opinion?

Ray Dalio’s $100 million for the state’s schools lies in the balance.


Pray For The Billionaires, You Guys

Income inequality is the very, very top, anyway.