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Willisms

« Trivia Tidbit of the Day: Part 566 -- Fiscal Nightmare. | WILLisms.com | Trivia Tidbit of the Day: Part 568 -- Impact of Stimulus Spending On States... Negatory. »

Trivia Tidbit of the Day: Part 567 -- Texas Versus California.

Recent Tax Changes Will Only Exacerbate California's Brain Drain & Capital Flight To States Like Texas-

There is a new version of Art Laffer's Rich States, Poor States publication, and there is a whole chapter on Texas versus California available to the public (.pdf):

recenttaxchangescaliforniatexas.gif

What is doubly astonishing about this graph (and troubling, if you're California) is that Texas already had a lower tax burden and California already had a higher tax burden to begin with. These changes in the chart above were made during the recent good times. Now that times are not so spectacular, California is going to have to add an even greater tax burden onto its residents to cover its 40+ BILLION dollar deficit, while Texas can hold the line and be fine, as it is one of the few states in the country without a state budget deficit.

Maybe there's a lesson here. Will all the thousands of Californians and others moving to Texas every day understand that lesson?

-------------------------------------

Previous Trivia Tidbit: Fiscal Nightmare.

Posted by Will Franklin · 6 April 2009 11:19 AM

Comments

There are a lot of great Californians out there. Hopefully they will not bring there liberal regulation ideas with them and hopefully they will adapt to Texas. Texas is a great place to live. Hopefully americans will recognize Socialism and limitless Govt is not the way. Socialism doesn't work. Look at Social Security. It is a failure, yet we are still being FORCED to pay into it. Personally, I believe Congress and Obama have gone way too far. Obama needs to be a ONE TERMER! Congress and Obama need to stop their out of control spending spree!

Posted by: ZsaZsa at April 7, 2009 06:25 AM

Thanks for the links, I'm looking into this to find out what the heck is going on, why not more study of policies of california budgets, spending? Is it a sample of what fed is doing fiscally?

Posted by: frankg at April 14, 2009 06:04 PM