By Duncan Smith
Republican-run states continue to be the models for a stronger America as left-wing blue states and cities continue to crumble, collapse, and die.
For instance, red states have been the primary drivers of lowering the country’s overall unemployment rate.
That’s because red-state governors have been cutting off overly generous federal unemployment payments that, when combined with state benefits, were providing potential workers with essentially the same pay they were getting at their previous jobs. Why work if you are literally making the same money sitting on your ass?
Now, a pair of reports indicate how red states are working to ease tax burdens on their citizens as a means of growing their already strong economies.
US News reported in May:
Utah, Florida and Oklahoma – states that favor low tax and spending policies – come out on top in the latest ALEC-Laffer State Economic Competitiveness Index released on Wednesday.
States that fare the worst – New York, Vermont and New Jersey – are those that have high state income taxes and large government-funded programs, according to the “Rich States, Poor States” report from the American Legislative Exchange Council, a conservative think tank.
One component of the index, the economic outlook ranking, evaluates states based on 15 factors that are closely influenced by state policies. “Generally speaking, states that spend less — especially on income transfer programs — and states that tax less — particularly on productive activities such as working or investing — experience higher growth rates than states that tax and spend more,” the report notes.
For the record, without agriculture and Silicon Valley, California would be an economic basket case.
Now, a newer report from Fox Business Network notes:
Arizona is the latest state looking to lower its income tax rate, citing a budget surplus despite the economic havoc wrought by the coronavirus pandemic.
Gov. Doug Ducey last week signed a budget that includes a transition from the state's current progressive tax structure to a flat tax rate of 2.5%, which would provide an estimated $340 reduction in the average state income tax payment.
“Many states that are in a strong fiscal position despite the pandemic view tax reform as an opportunity to make a down payment on continued long-term economic growth and to make a name for themselves as a taxpayer-friendly state, especially given the increased remote work flexibility many employers are offering,” Katherine Loughead, a senior policy analyst at the Tax Foundation, said in a statement to FOX Business.
“Overall, nine states have lowered their individual income tax rates,” the report continued. The others are Ohio, Idaho, Oklahoma, Iowa, Louisiana, Missouri, Montana and New Hampshire.
It’s very plain for anyone to see who cares to look and is fair-minded: Red states and conservative economic policies lead to jobs, growth, and a stronger economy. Blue state policies, not so much.
Biden's inflation is GETTING WORSE by the month...
Around the world, supply chains continue to be disrupted. Delays are now commonplace. And they're going to get worse.
There IS a financial reset coming - that's just true. All the signs indicate as much.