One side effect of a strengthening national economy has been a widening disparity in state growth rates. The eight fastest-growing states by population last year were located in the West or South (Nevada, Idaho, Utah, Arizona, Florida, Washington, Colorado and Texas).
And what do you know? These states have also experienced rapid employment and GDP growth spurred by low tax rates and policies generally friendly to business and job creation. Nevada, Arizona, Texas, Washington, Utah, Florida and Colorado ranked among the eight states with the fastest job growth this past year, according to the Bureau of Labor Statistics. Nevada, Texas, Washington and Florida have no income tax.
And California is only experiencing growth because of foreign immigration (legal and illegal).
Will high-tax business unfriendly states learn anything? Doubtful. These states are dominated by the interests of unions and the Welfare Industrial Complex. Like other addicts, they will not change behavior until they hit bottom.
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