Vermont: In The Rear View Mirror

Why We Have Abandoned Vermont
by
Glen A. Wright, CPA

My wife, Rosemarie, and I have abandoned Vermont.

There is no more painful decision for two 6th generation native Vermonters than to give up residency in the state where we have spent the last 60 years, raised our family and grown a successful business. The moment of truth for us came recently when we had to relinquish our Vermont driver’s licenses.

But the tax burden in Vermont has become more than we are willing to bear. We can’t take it any more and are taking the only possible alternative: leaving Vermont.

Our decision has not been a rash one. For years I have tried to convince policymakers in Montpelier that Vermont’s high tax burdens are driving native Vermonters away. These warnings have always fallen on deaf ears.

 The recent legislative action reducing the state income-tax deduction, the estate-tax exemption reduction and increasing tax on capital gains will have a significant negative impact on us. Becoming Florida residents eliminates our entire state income-tax burden. We will also experience a significant reduction in our property taxes. The value of our house in South Hero is approximately the same as our residence in Ocala, Florida.  My property taxes in Vermont last year were in excess of $12,000.00. My property taxes in Florida after claiming the homestead exemption will be $4,000.00.

I have been a practicing tax CPA in Vermont for the past 37 years. In that time, I have advised many former Vermonters on the benefits and steps to take to change their residency from Vermont. These clients represent a significant amount of tax revenue to Vermont.

For years, the legislature has dismissed the fact people leave Vermont for tax purposes because they had no specific evidence of the people leaving.  I testified many times to legislative fiscal committees on tax matters, as did many other tax professionals. These committees refused to believe people were leaving Vermont because we professionals, bound by confidentiality, would not disclose names.

Now, I want to go on record that I am leaving Vermont because of its high tax burden.

Vermont’s high cost of living burdens not just  high-income taxpayers. My mother, 85, was born and lived her entire life in Enosburg Falls. Even though she has a good retirement benefit from my deceased father, she struggles to maintain her house and modest lifestyle. Property taxes, income taxes, sales tax and high fuel and electricity costs have forced her to consume the equity in her house in order to live. She is very disappointed with the massive changes in Vermont’s way of life.

In her words: “The legislature has stolen Vermont from the people who live here and then completely destroyed it.”  She, too, would like to leave Vermont, but it is not feasible for a woman her age.   

The majority of Vermonters have become “takers” from government and the number of “givers” is not only in the minority but decreasing every day.  If Vermont continues with its current tax policy, there will soon come a time when the “givers” are gone and the only ones left will be the “takers” who will no longer have a source of tax revenue for their taking. 

In my opinion, we are already there and the recent proposed legislation only accelerates the flight of the “givers”.

That’s why Rosemarie and I are sadly leaving our former home state that now seems intent on destroying itself.

 

(Glen A. Wright formerly lived in South Hero. He has been a practicing tax CPA in Vermont for the past 37 years before he and his wife recently moved to Ocala, Fla.)

Comments

[Ed G. Mann]

Little Tommy Tucker sang for his supper. That is, until the Vermont Libs said, that's insensitive, makes him feel inferior.

So they took OPM and gave little Tommy his supper for nothing.

Now Vermont is nearly bankrupt, there won't be OPM for Tommy's supper, so he can sing for nothing.

Didn't that work out well!

[NYC & VT GIRL]

OH, AND SOME OF THE LOCALS IN OUR VT VILLAGE ARE OPPOSING A GUY WHO WANTS TO BUILD A BIG HOUSE UP ON THE HILL OF THE PROPERTY HE OWNS. HE WOULD PROBABLY ADD ANOTHER $5-$10K TO THE TAX ROLLS BUT THEY DON'T CARE. THEY DON'T WANT ANY MORE "OUTSIDERS" COMING IN.... WE'VE POURED $1000'S INTO THESE PEOPLE'S POCKETS AND THIS IS THEIR ATTITUDE? THESE PEOPLE AREN'T LIBERALS BUT THEY ARE PROVINCIAL AND UNEDUCATED AND NOT EXACTLY ENTREPRENURIAL.

[GreggB]

This is great. I get such a happy feeling knowing that many of VT's best and brightest are moving to greener pastures.

[Brattleboro_conservative]

To pull a quote from Wikipedia:
"Liberalism emphasizes individual rights and equality of opportunity. Within liberalism, there are various streams of thought which compete over the use of the term "liberal" and may propose very different policies, but they are generally united by their support for constitutional liberalism, which encompasses support for: freedom of thought and speech, limitations on the power of governments, the rule of law, an individual's right to private property,[2] and a transparent system of government."

Needless to say, no one who calls themselves "Liberal" or "progressive" in this state adheres to any of the quoted statement above. Certainly not Mr. Zeliff, Mr. G. Cross or Peter Joes.

[Jordan Retro 6]

Wherever you when to begin,Important is not stop after beginning, Regardless of whenever you are over, Do not regret. The best is that we are do it.