Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

  • Home
  • Your Survival
    • Your Survival Guy’s Super States
    • EMP Threat
    • Tucker Explains
    • Newport Gas Outage
    • Water
      • Emergency Water Storage
      • Let There Be Water
    • Get Your Gun and Your Training Now
    • Satellite Phones
    • Navy SEAL Survival Kit
  • Your Money
    • Coronavirus Infects Stock Market
    • Looking for a Better America
    • You Invest, They Win
    • Where to Keep Your Cash
    • Paris
    • How to Buy a Boat
    • Dead or Alive? The Future of Long-Term Investing
    • Is Vanguard too Big?
    • Cryptocosm and Life After Google
    • The Last Intelligence Report
    • The Truth Behind the S&P 500
    • RAGE Gauge
    • How Many “Retirees” Will Keep Working?
    • Your Retirement Life
    • You’ll Love This if You’re Dreaming of an Active Retirement Life
  • Weapons
    • Self Defense
    • Every Family Should Own at Least One Shotgun: Here Are Three
  • About Me
    • Preparing for Times Like These
    • My Videos/Pics
    • Music
      • RIP Neil Peart: You Will Always Be Remembered as a “Modern-Day Warrior”
    • Your Survival Guy: Make Your Bed and The Hero Code
  • You
    • Our Cabin on Kodiak, Alaska
    • If You Are in Pain, this May Help. It Helped Me.
    • How to Save for a Grandchild
    • FIRE! Financial Independence, Retire Early
    • Compound Interest
    • Arithmetic of Portfolio Losses
    • Maximum Portfolio Withdrawal Rate
    • An Efficient Frontier
    • Retirement Compounders
    • Counterbalanced Total Returns
  • Survive & Thrive
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • Welcome

Vermont’s Relocation Grant, Really?

June 11, 2018 By E.J. Smith - Your Survival Guy

By Brett Godfrey @ Shutterstock.com

I keep a regular eye on the way states treat their citizens. I regularly warn readers here to avoid those states papering over their structural problems with higher taxes and freedom-restricting regulations. At the same time I applaud those states where entrepreneurs and businesses are rewarded for their hard work and innovation with lower taxes and greater liberty.

One thing that is upsetting to me and probably to most Americans is when a state uses its tax dollars to reward a specific group. Picking winners is not in a state’s best interest, nor is it good for that state’s citizens. Despite that, Vermont is trying to pick winners with a new program that takes money from its current citizens and offers it to prospective Vermonters who would move there to work. The Editorial Board of The Wall Street Journal points out the major flaw in the program. With the state’s high personal tax rate of 8.95%, immigrants to the state will be essentially taking a high interest loan. They write:

Many Americans work remotely these days, free to consider state tax rates among other things in choosing where to live. The overtaxed state of Vermont thinks that’s a recruiting opportunity, and the state government is offering $10,000 grants to recruit workers willing to move to the Green Mountain State.

Governor Phil Scott last week signed the Remote Worker Grant Program law, which invites folks who work from their laptops for out-of-state employers to do so in Vermont. The program will dole out up to $500,000 over three years to cover moving and work-related expenses for those who sign up.

With Vermont’s high tax rates, the one-time subsidy is effectively a loan—with a punishing interest rate. Alongside a top marginal income personal rate of 8.95%, Vermont’s property taxes were third most onerous in the country in 2017, according to ATTOM Data Solutions. The burden will increase this year with the new $10,000 limit on the federal state-and-local tax deduction. In March Mr. Scott also announced a “Stay-to-Stay” initiative to convince some of Vermont’s 13 million annual tourists to stick around. Visitors were treated to networking events and job site visits, all on the taxpayer’s dime.

Read more here.

The following two tabs change content below.
  • Bio
  • Latest Posts
My Twitter profileMy Facebook profileMy Instagram profile

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
My Twitter profileMy Facebook profileMy Instagram profile

Latest posts by E.J. Smith - Your Survival Guy (see all)

  • PRIMARIES: Trump Endorsed Candidates’ HUGE Night - May 18, 2022
  • All-Powerful Money Managers Voting YOUR Money Targeted by Senate GOP - May 18, 2022
  • TUCKER EXPLAINS: Buffalo Shooter was Troubled and People Knew It - May 18, 2022
  • Guns and Money: Learn from Ukraine and Get Yours Today - May 18, 2022
  • BE VIGILANT: The Rats Are Scurrying in These Rough Markets - May 17, 2022

If you enjoyed this post, email it to a friend:

  • Email
  • Print
  • Facebook
  • LinkedIn
  • Twitter
  • WhatsApp

Related Posts

Money 101

Trending

  • CHAOS: Don’t Sacrifice an Entire Retirement with This Mistake
  • ESG Is Another Way to Attack Conservative Principles
  • LOOKING FOR LIBERTY: Retirees Revive Rural America
  • You Can Do Better than Mutual Funds and ETFs with Your Cash
  • Biden Admin ALREADY Distancing Itself from Controversial Disinformation Czar
  • Your Survival Guy: Make Your Bed and The Hero Code
  • MARKET CHAOS: This May Take Time, Here’s How to Prepare
  • Joe Biden is Weaponizing Your 401(k) Against You
  • PANOPTICON: The Deep State's Expanded Civilian Surveillance
  • RAGE GAUGE: INVESTOR CARNAGE—Losing Control of Your Money

Must Reads

  • Your Survival Guy’s Fishing Stories: From Key West to Newport
  • The Masters of the Universe Align Themselves with CHINA Using YOUR Money?
  • GET PAID: How To Invest in Biden’s Inflationary Market
  • HELLO: “How’s It Going? I Don’t Know Anything”
  • Parents Are the New Tea Party. Bad Schools Are the New High Taxes.
  • GAME ON! Lessons from Street Hockey on Baker Lane
  • Your Best State on Guns, Plus the 8th Wonder of the World
  • FIRE AND ICE: Defeat the Cold by Stocking Firewood
  • Americans Fleeing High Tax States for Growth Corridors
  • Your Survival Guy’s 2022 Super States: #1 New Hampshire
Only if You’re Serious
See Who's Missing the Boat
Key West Summer Camp in March
How Can You Save Money for Your Grandchild
Your Survival Guy's Fishing Stories
Money 101
Pandemic Creates Virtual Panopticon
Emergency Water Storage
Find Freedom in America
Second Amendment
Great Reset
Financial Independence, Retire Early
Richard  Young Reports
How You Can Save Money for Your Grandchild
Why Fidelity is Number One
The Best States for Survival
You Invest, They Win
Escape the City
Why Vanguard is Too Big for YOU
Island Life

Copyright © 2022 | Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.