Last week, the American Legislative Exchange Council (ALEC) – a right-leaning economic analysis group – released its 6th annual report on state economic performance.
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The 10 states that had the best economic performance over the decade 2000 to 2010 were …
Notice anything common across those states?
Here’s the code-breaker …
IBD compared the top 10 to the bottom 10 … and color coded the states by political leaning – Red for GOP, Blue for Dem.
Hmmm.
Seems that Red states dominate the top 10; blue states dominate the bottom 10.
Coincidence?
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The ALEC authors distilled 15 factors as important to driving states’ economic growth:
- Highest Marginal Personal Income Tax Rate
- Highest Marginal Corporate Income Tax Rate
- Personal Income Tax Progressivity
- Property Tax Burden
- Sales Tax Burden
- Tax Burden from All Remaining Taxes
- Estate/Inheritance Tax (Yes or No)
- Recently Legislated Tax Policy Changes
- Debt Service as a Share of Tax Revenue
- Public Employees per 1,000 Residents
- Quality of State Legal System
- Workers’ Compensation Costs
- State Minimum Wage
- Right-to-Work State (Yes or No)
- Tax or Expenditure Limits
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