Categories
Quick Analysis

Winning States, Losing States

In 1932, U.S. Supreme Court Justice Louis Brandeis called the individual states “Laboratories of Democracy.” He might well have added that they, and many cities as well, also serve as testing grounds for contrasting approaches to economics and taxation.

Traditional high tax, high regulation states continue to be places that citizens flee. According to a United Van Lines report  “The Northeast continues to experience a moving deficit with New Jersey (63 percent outbound), New York (61 percent) and Connecticut (57 percent) making the list of top outbound states for the third consecutive year. Massachusetts (56 percent) also joined the top outbound list….”

Regionally, the Mountain West and the South continue to attract movers.  Alabama, Oregon, Idaho, Nevada, South Dakota, Washington, South Carolina, North Carolina, Colorado, and Vermont all gained.

California, once a great attractor of Americans on the move, now joins the cold Northeast for outmigration. A Redfin study notes that “The San Francisco Bay Area topped the list of places with the largest net outflow, followed by New York and Los Angeles…At the state level, California had the largest net outflow of users last quarter.4 As the Bay Area residents of Northern California looked north to the booming tech hubs of Seattle and Portland, Southern Californians went east to the more affordable places in the Southwest, like Las Vegas and Phoenix—which saw their populations grow immensely in 2016. These and other southern metros took in large inflows of people from the East Coast as well.”

The Tax Foundation’s State Business Tax Climate Index rates state tax systems. Its ranks, in order, the ten best states: Wyoming, South Dakota, Alaska, Florida, Nevada, Montana, New Hampshire, Indiana, Utah, and  Oregon. “The absence of a major tax is a common factor among many of the top ten states. Property taxes and unemployment insurance taxes are levied in every state, but there are several states that do without one or more of the major taxes: the corporate income tax, the individual income tax, or the sales tax. Wyoming, Nevada, and South Dakota have no corporate or individual income tax (though Nevada imposes gross receipts taxes); Alaska has no individual income or state-level sales tax; Florida has no individual income tax; and New Hampshire, Montana, and Oregon have no sales tax. This does not mean, however, that a state cannot rank in the top ten while still levying all the major taxes. Indiana and Utah, for example, levy all of the major tax types, but do so with low rates on broad bases.”
Semal Musli is another potent herb free samples of viagra http://davidfraymusic.com/events/musikfest-bremen-2/ to improve stamina, male potency and strength. Many traditional physicians are open to the idea of incorporating alternative medicine into the treatment plan, so be sure to tell your doctor and pharmacist about all the products you use (including prescription/nonprescription drugs and herbal products) and share it with your doctor immediately if you have these symptoms or if you are feeling embarrassed and un-happy because davidfraymusic.com generic viagra of your impotence then his clinic is the right destination for. Most back pain is mechanical in overnight cialis tadalafil nature. What is the adverse effect of Kamagra? Kamagra may cause some common side effect such as : sudden vision loss; Ringing in best tadalafil your ears, or sudden listening to misfortune; chest ache or overwhelming feeling, torment spreading to the arm or shoulder, affliction, sweating, general debilitated feeling; Irregular beat; Swelling in your hands, ankles, or feet shortness of breath vision changes feeling light-headed, fainting Penis erection that is.
The Tax Foundation ranked these as the 10 lowest ranked, or worst, states: Louisiana, Maryland, Connecticut, Rhode Island, Ohio, Minnesota, Vermont, California, New York, and New Jersey. “The states in the bottom 10 tend to have a number of shortcomings in common: complex, non-neutral taxes with comparatively high rates. New Jersey, for example, is hampered by some of the highest property tax burdens in the country, is one of just two states to levy both an inheritance tax and an estate tax, and maintains some of the worst-structured individual income taxes in the country.”

An Investors.com report by John Merline was quite blunt in its assessment, noting that the “Best run states are low-tax Republican,” while the “Worst run are high tax Democratic.” The assessment was based on its analysis of the Mercatus Center’s State Fiscal Rankings.

The Mercatus study states that the twelve top-rated states for fiscal condition are Florida, North Dakota, South Dakota, Utah and Wyoming, Nebraska, Oklahoma, Tennessee, Idaho, and Montana., Missouri, and Alabama. The twelve worst were New Jersey, Illinois, Massachusetts, Kentucky, Maryland, Pennsylvania, Louisiana, California, West Virginia, New Mexico, Vermont, New York and Rhode Island. The Mercatus study cited factors such as higher levels of cash, low unfunded pensions, and strong operating positions as reasons for success, while low amounts of cash, large debt obligations, and long-term drivers of debt are indications of failure.

In a Washington Times article, Stephen Moore noted that California, Massachusetts, Vermont, Hawaii, Maryland, New York, Illinois, Rhode Island, New Jersey, and Connecticut lost domestic population (excluding immigration) in the ten year period from 2004-14. “Nearly 2.75 million more Americans left California and New York than entered these states…They are all progressive. High taxes rates. High welfare benefits. Heavy regulation. Environmental extremism. Super minimum wages. Most outlaw energy drilling.”

The Report Concludes Tomorrow.