April 21, 2012
Arthur Laffer and Stephen Moore write that the 50 states offer a "teachable moment" for Obama if he would only pay attention.
In California, a union-backed ballot initiative would raise the state's highest tax rate to 13.3%. Union-funded groups in Illinois aren't satisfied with last year's income tax rate hike to 5% from 3%, so they now want to go as high as 11%. That would put them in the big leagues with California and New York. And in Oregon, lawmakers are considering raising the highest rate to 13% from 9.9%. In all of these states, proponents parrot Mr. Obama, insisting that the rich can afford it.
They can, but they can also afford to save hundreds of thousands or more each year by getting out of Dodge. Every time California, Illinois or New York raises taxes on millionaires, Florida, Texas and Tennessee see an influx of rich people who buy homes, start businesses and shop in the local economy.
Republican governors in Florida, Georgia, Idaho, North Dakota, South Carolina, Ohio, Tennessee, Wisconsin and even Michigan and New Jersey are cutting taxes to lure new businesses and jobs.
Asked why he wants to reduce the cost of doing business in Wisconsin, Gov. Scott Walker replies: "I've never seen a store get more customers by raising its prices, but I've seen customers knock down the doors when they cut prices."
Georgia, Kansas, Missouri and Oklahoma are now racing to become America's 10th state without an income tax. All of them want what Texas has (almost half of all net new jobs in America over the last decade, for one thing).
Posted by Tom Bowler at 05:44 AM | Permalink
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Georgia, Kansas, Missouri and Oklahoma are now racing to become America's 10th state without an income tax.Word of caution from NH. With "immigration" of disgruntled tax refugees comes inbred attitudes espousing the unsustainable profession of "other peoples money" livelihood. Hey, Ms. Pelosi, can we rewrite The Constitution such that the Interstate Commerce Clause says an interstate refugee cannot vote in States affairs for a designated period suitable to assume a minimum of assimilation?
Posted by: CaptDMO | Apr 21, 2012 11:20:23 AM
We are witnessing the collapse of the welfare state.
Posted by: jorod | Apr 24, 2012 10:05:41 PM