by Tyler_JC » Fri 10 Apr 2009, 13:43:04
$this->bbcode_second_pass_quote('vision-master', 'l')ower taxes = lower paying jobs or no jobs.
http://www.alec.org/AM/Template.cfm?Section=Rich_States_Poor_StatesI urge you to consider reading this report.
America is a free country. People are allowed to vote with their feet...and they do.
Compare Texas to New York.
1.9 million people left NY between 1998 and 2007 while 740,000 moved to Texas. And despite the huge gains on Wall Street during the housing and stock market bubbles, Texas produced more per capita income growth.
Texas created 20% more jobs while NY produced only 8% more jobs.
Currently, New York has a 1.3% higher unemployment rate than Texas. (7.8% versus 6.5%)
New York has a massive and growing budget deficit, Texas has a deficit too but the size is much more manageable.
New York responds by hiking taxes, Texas responds by controlling spending.
In the 2007 fiscal year, the government of Texas spent $3831 per resident. New York spent $7846 per resident.
http://www.taxfoundation.org/research/show/287.htmlThe three year median family income for 2005-2007 in New York was $49,546. For Texas, the figure was lower. Texan families earned only $44,861.
The earnings gap is $4,685.
But the government spending gap is $4,015.
But it gets worse. That spending is
per capita, not
per household. When you assume that a household contains three people...New York exposes itself for what it is. An over-taxed economic black hole.
Texas spending on a family of three = $11,493 or 25.6% of that household's income.
New York spending on a family of three = $23,538 or 47.5% of that household's income.
The only reason the people of New York aren't giving half of their paycheck's to Albany is that most of New York state revenue comes from the Wall Street bankers. With that money gone, the state will be forced to start pillaging middle class families. Just wait till the property taxes in New York start having to make up for the loss of banker bonus revenue, then you'll see one hell of a tax revolt.
To be fair, a big chunk of state government spending comes from the federal government but the gap between Texas and NY in terms of federal support is nowhere near $12K per household.
New York just taxes and spends too much. Or at least that's what the 1.9
million people who left the state think.