The facts say it all : The differences between Californias and Texas economic policies and performances couldnt be more stark, Laffer said. Texas has a low-tax, business friendly environment. California has punitively high tax rates and seems to put up every possible barrier to entry for business. Texas is welcoming more and more companies, jobs and people each year, while California is desperately trying to build a wall to keep its companies, jobs and people from fleeing to greener pastures. The people have spoken. Texas population and economy are booming, as businesses and families from high-tax states move to low-tax states that have jobs available and that allow them to keep more of what they earn. As noted in Laffers study, Texas has had a net adjusted gross income gain of $14.7 billion over the past six years, while California lost $19.2 billion. Additionally, California has the highest percentage of its population on welfare, while Texas has the fourth lowest. Texas also has significantly less poverty, and has maintained a significantly lower unemployment rate. Texas strong jobs climate continues to receive national recognition. Earlier this year, Texas was named the best business climate by Business Facilities Magazine, most competitive state by Site Selection Magazine, and best state for global trade by Global Trade Magazine. Chief Executive Magazine has also ranked Texas as the best state for business for nine years in a row through their annual survey of CEOs
Posted on: Mon, 18 Nov 2013 22:45:44 +0000
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