High Tax State Exodus - flow to low tax hence high GDP growth

Discussion in 'Politics' started by TJustice, Dec 31, 2018.

  1. TJustice

    TJustice

    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.

    ...

    Florida recorded the highest level of net domestic migration last year and has gained 1.2 million people from other states since 2010. Many Florida transplants are retirees and tax refugees from the Northeast, but businesses of all sorts are also recruiting young workers from other states to serve the state’s booming population that has reached 21.3 million.

    Then there’s California. Despite its balmy weather and thriving tech industry, the Golden State last year lost more people to other states than it gained from foreign immigration. Since 2010, a net 710,000 people have left California for other states. One reason is high housing prices, fueled by onerous land and zoning regulations, which have driven out thousands of middle-income families.


    Jobs and businesses have also fled the state’s high taxes and regulation. A study this month by business relocation consultant Joe Vranich estimates that 1,800 businesses shifted jobs or capital out of California in 2016 and about 13,000 companies have left the state since 2008. Over the last decade $76.7 billion in capital and 275,000 jobs have moved out of the state.

    While California’s population continues to grow because of its relatively high birth rate and foreign immigration, other states that are hostile to business have been less blessed. Nine states lost population last year including Alaska, Connecticut, Louisiana, Hawaii, Illinois, Mississippi, New York, West Virginia and Wyoming. Alaska, Louisiana, West Virginia and Wyoming are heavily dependent on the vagaries of energy prices, but the economic malaise in Connecticut, Illinois, Hawaii and New York is self-inflicted.

    https://www.wsj.com/articles/high-tax-state-exodus-11546037709
     
    Clubber Lang, Tom B and gwb-trading like this.
  2. Tony Stark

    Tony Stark

    Most of those states got more democrat votes in 2018 than prior years.Colorado has gotten more blue.Arizona got a democrat Senator.Beto came within 2.5 points in Texas after Cruz and Hutchinson previously won that seat by 25 and 16 points.Dems took the GOP Nevada Senate seat.

    One of my biggest wishes was that Dems in CA and NY leave those states and start spreading out to other states.
     
  3. TJustice

    TJustice

    That is easy.

    As working people leave California because of the taxes and crushing government we have replaced them with non income tax payers. (only one third of us even pay income taxes out here.

    If you want non income taxpayers to replace your tax payers just raise taxes and offer more handouts. Just like New York and CA.



     
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