Posted on 12/11/2020 8:17:58 AM PST by Kaslin
The 12th edition of Rich States, Poor States, written by White House Advisors Arthur Laffer, Ph.D., Stephen Moore, and Jonathan Williams, chief economist for the American Legislative Exchange Council, pinpoints why some states in the union grow and prosper while others shrink and fail.
Based on the authors’ collective research, appropriate regulations, competitive tax rates, and wise government spending yields greater opportunities for all Americans. In particular, citizens in states where lawmakers are focused on establishing long-term prosperity benefit the most. This is especially true when those citizens trust the judgment of their political leaders and have witnessed the wisdom of their policies.
What’s more, from year to year, rich states in motion tend to maintain and even elevate prosperity, while poor states experience the opposite and issue lame laments about “tax breaks for the rich” and other go-to bromides.
15 Vital Policy Areas
As in each edition, Rich States, Poor States ranks the economic outlook of all 50 states based on 15 policy variables, which are given equal weight. These policy variables include top marginal personal income tax rate, top marginal corporate income tax rate, personal income tax progressivity, property tax burden, sales tax burden, and remaining tax burden.
Also included are estate or inheritance taxes levied, recently legislated tax changes, debt service as a share of tax revenue, public employees per 10,000 of population, state liability system surveys, state minimum wage, average workers' compensation costs, whether the state is right-to-work, and tax expenditure limits.
The common denominator among states that rank high in economic outlook is that they tax less and spend less, and they promote policies that either stimulate investment or increase employment, or do both.
Examining the list below, one can see that the 15 states of the union with the highest economic outlook ranking voted Republican in the last election presidential election (counting four states with votes still in question), including Utah, Wyoming, Idaho, Indiana, North Carolina, Nevada, Florida, Tennessee, Oklahoma, Arizona, North Dakota, Wisconsin, South Dakota, Michigan, and Texas.
Economic Outlook Ranking
From the best, Utah, to the worst, New York, here is the complete state roster:
1. Utah
2. Wyoming
3. Idaho
4. Indiana
5. North Carolina
6. Nevada
7. Florida
8. Tennessee
9. Oklahoma
10. Arizona
11. North Dakota
12. Wisconsin
13. South Dakota
14. Michigan
15. Texas
16. Virginia
17. New Hampshire
18. Colorado
19. Missouri
20. Mississippi
21. Georgia
22. Arkansas
23. Alabama
24. Delaware
25. Kansas
26. Alaska
27. Iowa
28. West Virginia
29. Ohio
30. Louisiana
31. Kentucky
32. South Carolina
33. Montana
34. New Mexico
35. Massachusetts
36. Nebraska
37. Maryland
38. Pennsylvania
39. Washington
40. Connecticut
41. Maine
42. Oregon
43. Rhode Island
44. Hawaii
45. Minnesota
46. California
47. Illinois
48. New Jersey
49. Vermont
50. New York
Notice that those states with the lowest economic outlook ranking, starting from the worst, New York, and including Vermont, New Jersey, Illinois, California, Minnesota, Hawaii, Rhode Island, Oregon, and Maine, all voted Democrat in the recent election.
Choose Your Fate
Republican-led states tend to prosper, Democrat-led states tend to suffer. A mere coincidence? With such a wide disparity in the economic outlook rankings and resulting economic prosperity, versus the lack thereof, Americans have had somewhat of a dual experience during President Trump’s time in office.
Those states that voted for Trump and for Republicans, in general, have had a different reality from those states that traditionally vote for Democrats. This economic disparity between different regions of the country has gone on not merely for years, but for decades. Those cities where economic devastation and destruction has occurred, once again, have voted for Democratic regimes, not merely for years, but for decades, and Republican-led cities tend to prosper, while Democrat-led cities tend to suffer.
Why don't states with poor economic outlook rankings, and cities that have long been in decline, emulate the policies and practices of states and cities that continue to prosper? That is a compelling question that is well worth pursuing and, in particular, a vital question for Democrat politicians and the millions of voters who aimlessly support them.
The answer is simple: a new Articles of Confederation. 2 states, one defense/state department. A new constitution will make it illegal to be anything other than a Libertarian on all issues. A cap of 10% leftists registered as a museum piece.
We live in Wyoming and things are hard right now for a lot of people. Tourism, cattle, and oil are all laying people off right now.
If we’re #2 then I’d sure hate like hell to try to survive in New York!
Fleeing democrats will invade these states and destroy them...just a matter of time...look at Colorado..
When they bring in 40-50 million illegals on public assistance all states will fail
Until shutdown, CA was wallerin’ in money.
With a VERY robust economy, and very robust growth.
Sure, CA is probably an anomaly. But the economic dominance is real.
Why is Mississippi ranked higher than California or New York or even Connecticut? I thought it was the poorest state in the union.
I’m surprised Michigan is as high as it is. The governor has desperately been trying to beat the economy to death. She has a particular hatred for bowling.
Michigan’s governor is a straight up bitch. I know one when I see one.
Michigan has a better economic outlook than Texas?
A Chimpanzee could be the governor of California and it would still be a powerhouse.
It dominates Pacific maritime commerce due to it’s size. It’s ports bring in goods that go to many other parts of the country. Contrast that with the East Coast where maritime commerce is chopped up between a great many states.
I’ve awlays thought it would interesting to see what would happen if California were broken up into 4 or 5 smaller states. Just a fantasy of mine..... ;)
State of Jefferson.
Wisconsin is #12, and we’re usually higher, but we have a pencil-necked geek Socialist Democrat in charge right now. :(
Easy place to check the economic stats on any state, by month:
https://www.bls.gov/eag/eag.wi.htm
Good support for succession.
“Michigan has a better economic outlook than Texas?’
Further from Mexico.
Amen DIRTYSECRET.
I think a new workable Articles of Confederation is the way to go.
Right of Center folks can live in Red states
Left of Center vermin can live in commie blue states.
Once a left of center looney picks to stay in a blue states hw cannot move out. Same for right of center folks. We all get only one decision.
And Fedzilla will only be there for things all states need: the military, treaties, defense, coinage, etc.
Fantastic great idea.
bump
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