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Politics : I Will Continue to Continue, to Pretend....

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To: Sully- who wrote (19639)	5/17/2006 10:43:50 AM
From: Sully-	of 35834

What Low Taxes Can Do for a State Betsy's Page Lawrence McQuillan and Hovannes Abramyan in the Wall Street Journal look at the states as they are ranked according to their pro-growth economic policies. <<< Now new data is out and it shows that the states that embraced supply-side tax cuts are not only financially more sound and enjoy stronger economies, but they are draining residents away from the states that opted for high taxes. The Pacific Research Institute has crunched the tax numbers in all 50 states and published the "U.S. Economic Freedom Index" ranking all states according to how friendly or unfriendly their policies were toward free enterprise and consumer choice in 2004--the most recent year that comparative data is available for each state. It's clear that the economic policies of 2004 determined where each state fell in the rankings, and shaped 2005 economic performance. It isn't just fun to pinpoint which states are getting it wrong. Where a state falls on the U.S. Economic Freedom Index also indicates how likely it is to experience real economic growth over the long term. Individuals looking to open a new business, expand operations or market new products weigh the comparative costs and benefits of different locations. They evaluate local universities, transportation networks, labor skills, market size and even the weather. They also assess the policy climate. Economic freedom--a favorable state tax, regulatory, and legal climate--attracts entrepreneurs and capital, thereby increasing jobs and wages. 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. It hasn't been a "jobless recovery" in states that have adopted pro-growth tax and regulatory policies. >>> When will governors and state legislatures learn that there are consequences from putting in place high taxes and other policies that discourage businesses from locating in their states. betsyspage.blogspot.com opinionjournal.com

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