Basic Econ: Red beats Blue …

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 …

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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.

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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:

  1. Highest Marginal Personal Income Tax Rate
  2. Highest Marginal Corporate Income Tax Rate
  3. Personal Income Tax Progressivity
  4. Property Tax Burden
  5. Sales Tax Burden
  6. Tax Burden from All Remaining Taxes
  7. Estate/Inheritance Tax (Yes or No)
  8. Recently Legislated Tax Policy Changes
  9. Debt Service as a Share of Tax Revenue
  10. Public Employees per 1,000 Residents
  11. Quality of State Legal System
  12. Workers’ Compensation Costs
  13. State Minimum Wage
  14. Right-to-Work State (Yes or No)
  15. Tax or Expenditure Limits

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