Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Well Lookie Here: Contrary To GOP Rhetoric, Low-Tax States Have Worse Economic Growth
Contrary To GOP Rhetoric, Low-Tax States Have Worse Economic Growth
Republicans love to claim that low-tax states such as Texas enjoy a disproportionate amount of economic success, while higher-tax states like California are economic basket cases. Republican governors in several states are using that rationale to propose gutting their state income taxes (and, in many instances, replacing them with regressive sales taxes).
But a new report from the Institute on Taxation and Economic Policy shows that so-called “high tax states” are actually experiencing more growth and less decline in income than states that are supposedly super-conducive to economic expansion:
In reality, states that levy personal income taxes, including the states with the highest top rates, have seen more economic growth per capita and less decline in their median income level over the last ten years than the nine states that do not tax income. Unemployment rates have been nearly identical across states with and without income taxes.
...........................
In fact, it was the “high tax” states that did the best in terms of growth, as this chart shows:
MORE:
http://www.itep.org/pdf/lafferhighrate.pdf
http://thinkprogress.org/economy/2013/02/28/1654621/low-tax-states-no-growth/
3 replies
= new reply since forum marked as read
= new reply since forum marked as read
