Low Taxes , Regulations Turn Florida Into 3rd Largest State … NY Falls To Fourth

Florida Leaves New York Behind In Its Rear-View Mirror

 

 

 

 

 

” It’s official. Florida is the nation’s third-largest state with 19.7 million people. It surpassed New York this month by adding an average of 803 new residents every day as opposed to New York’s 140.

  Contrary to the stereotype, sun-seeking seniors aren’t the main drivers of Florida’s population growth. James Johnson, a business professor at the University of North Carolina, told the AP that Florida’s powerful economic engine is driving its growth: “I think it’s going to be for the 21st century what California or New York was for the 20th century.”

  As the James Madison Institute reports, Florida’s growth is built on a consensus that taxes, spending, and regulation should be restrained. Its budget is half the size of New York State’s, it lacks a state income tax, and it is much easier to start and run a business there than in many northeastern states.”

 

National Review

 

 

 

 

 

 

 

 

 

 

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A New Global Index Highlights The Harm From The U.S. Tax Code

We’re Number 32!

 

 

 

 

 

” Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington.

  On Monday the Tax Foundation, which manages the widely followed State Business Tax Climate Index, will launch a new global benchmark, the International Tax Competitiveness Index. According to the foundation, the new index measures “the extent to which a country’s tax system adheres to two important principles of tax policy: competitiveness and neutrality.” “

 

 

 

 

 ” A competitive tax code is one that limits the taxation of businesses and investment. Since capital is mobile and businesses can choose where to invest, tax rates that are too high “drive investment elsewhere, leading to slower economic growth,” as the Tax Foundation puts it.

  By neutrality the foundation means “a tax code that seeks to raise the most revenue with the fewest economic distortions. This means that it doesn’t favor consumption over saving, as happens with capital gains and dividends taxes, estate taxes, and high progressive income taxes. This also means no targeted tax breaks for businesses for specific business activities.” Crony capitalism that rewards the likes of green energy with lower tax bills while imposing higher bills on other firms is political arbitrage that misallocates capital and reduces economic growth.

  The index takes into account more than 40 tax policy variables. And the inaugural ranking puts the U.S. at 32nd out of 34 industrialized countries in the Organization for Economic Co-operation and Development (OECD).”

 

 

Read more

 

 

 

 

 

 

 

 

 

 

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Toyota To California: Hasta La Vista , Baby … See Me In Dallas

Video: Toyota Bailing On California

 

 

 

 

 

 

” The world’s leading automotive maker will follow the lead of its competitors and other large businesses, and leave California for better business climates elsewhere. Toyota had its US headquarters in Torrance for more than three decades, but now nearly 5,000 jobs will shift to Texas:

  Toyota Motor Corp. plans to move large numbers of jobs from its sales and marketing headquarters in Torrance to suburban Dallas, according to a person familiar with the automaker’s plans. …

The automaker won’t be the first big company Texas has poached from California.

  Occidental Petroleum Corp. said in February that it was relocating from Los Angeles to Houston, making it one of around 60 companies that have moved to Texas since July 2012, according to Texas Gov. Rick Perry.”

 

 

Hot Air has more on the ongoing California business exodus

 

 

 

 

 

 

 

 

 

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State by State Business Friendliness

Under “News you can Use ” comes this study , complete with a map of the business climate on a state by state basis .
  My one disagreement with the study would be the fact that New York somehow manages to escape an “F” rating . Having done business there for thirty years prior to “going Galt ” it is hard for me to imagine a less business friendly environment .
   Thanks to the Kauffman Foundation and ThumbThumbtack.com for publishing this .

How does your state fare ?

How does your state fare ?

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” Today Thumbtack.com, in partnership with the Ewing
Marion Kauffman Foundation, released new data showing that Idaho, Texas, Oklahoma and Utah
all earned A+’s for their friendliness towards small businesses. In contrast, small business owners gave California, Hawaii, Vermont, and Rhode Island an F, while New York narrowly avoided this lowest category with a D grade. Top performing cities included Oklahoma City, Dallas-Ft. Worth and San Antonio. “

Public Pension Debt vs Business Climate

Worker mobility has never been more important . This kind of unfunded liability will/is sinking some states .

  “Indiana’s debt for unfunded retiree health-care benefits, for example, amounts to just $81 per person. Neighboring Illinois’s accumulated obligations for the same benefit average $3,399 per person. “