I believe that California still has a higher GDP than Texas. I also think that poverty rate is a percentage of that states population, so population size doesn’t matter. Correct me if I am wrong.
Yes you are correct.
California is number 1 and Texas is number 2 regarding economy.
But California increased 17% in the last decade.
Texas overtook New York and increased 27% in the last decade.
Probably a lot due to the real estate bubble and jobs. I think Calif took a much bigger hit than Texas in real estate.
Also the cost of living needs to be included.
I know a couple recently who moved from Calif to Texas.
His company relocated from Calif to Texas.
They sold their home in Calif for approx 1.5 million and purchased a home here in Texas that was well over twice the size of the one in Calif for a little over $400K.
Cost of living in Texas is low and taxes are really low.
His company moved because of lower taxes, lower regulations and my guess the tort reform laws Tx passed.