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Tuesday, May 16, 2006

Jobs are flocking to low-tax states for a reason
In 2005, per capita personal income grew 31% faster in the 15 most economically free states than it did in the 15 states at the bottom of the list. And employment growth was a staggering 216% higher in the most free states.
In 2005, the 15 states with the most economic freedom saw their general fund tax revenues grow at a rate more than 6% higher than the 15 least free states, despite their lower effective tax rate. Instead of blowing a hole in state budgets, lower tax rates rewarded productivity and risk-taking and allowed the economy to grow.
As our state legislators discuss whether or not to provide a tax cut as state revenue forecast continue to grow, they would do well to consider the paragraphs above. More jobs, more income, more tax revenue (which we can use to cut taxes again!). Seems like a win-win.

I'm sure the liberals down there will mess it up.

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