Taxation

[Gadawg73]

States with an income tax had growth of 55% the last decade.
States with NO income tax had growth of 81% the last decade.
Guess why.

 

[Mr. H.]

Tourism.

 

[Revere]

I'm not down for believing it's as linear as that, but certainly those states would likely have less intrusive regulations on business, I would guess.

 

[Annie]

Hmmm, can those be broken down by red state/blue state voting?

 

[Gadawg73]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.
Tennessee has no income tax. They get their revenue from sales tax and user fees.
Income taxes are bad for the economy.
You get MORE of what you reward and LESS of what you punish.
Taxation is punishing productivity. The more you tax the less productivity you get.

 

[Mr. H.]

The Smoky Mountains is the most visited park in the U.S.
Tennessee has no income tax because it can afford to have no income tax. Tourism more than makes up the difference.

 

[2Parties]

I work in Memphis now, and I'd consider moving to Mississippi if they didn't have an income tax. Since they do I live, eat, and shop in Tennessee.

 

[Annie]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.
Tennessee has no income tax. They get their revenue from sales tax and user fees.
Income taxes are bad for the economy.
You get MORE of what you reward and LESS of what you punish.
Taxation is punishing productivity. The more you tax the less productivity you get.

I agree, it's what the tea parties are advocating.

 

[loosecannon]

Hmmm, can those be broken down by red state/blue state voting?

almost certainly. Developed state economies do not grow as fast as developing state economies.

Compare population increase to economic growth increase for a better stat to rank the states. THEN look at secondary factors.

 

[Annie]

The Smoky Mountains is the most visited park in the U.S.
Tennessee has no income tax because it can afford to have no income tax. Tourism more than makes up the difference.

NYC is the most tourist visited city in US. Next Chicago, Washington DC, and San Francisco.

Tourism does not make up the difference. In fact, all those states with those cities, (obvious exception of DC), have high income tax and budget problems galore.

 

[loosecannon]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.

States with no income tax draw more people to their states too. Something that unpopulated states will do in order to generate growth.

States that don't want larger populations have income taxes.

http://en.wikipedia.org/wiki/File:Map_of_USA_highlighting_states_with_no_income_tax_on_wages.svg

4 of the 7 states without income taxes have among the lowest populations of all states.

 

[Charles_Main]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.

States with no income tax draw more people to their states too. Something that unpopulated states will do in order to generate growth.

States that don't want larger populations have income taxes.

File:Map of USA highlighting states with no income tax on wages.svg - Wikipedia, the free encyclopedia

4 of the 7 states without income taxes have among the lowest populations of all states.

Not only do they attract more people. They attract people with high incomes, and business.

 

[NYcarbineer]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.
Tennessee has no income tax. They get their revenue from sales tax and user fees.
Income taxes are bad for the economy.
You get MORE of what you reward and LESS of what you punish.
Taxation is punishing productivity. The more you tax the less productivity you get.

Tennessee is 44th in median household income.

 

[Luissa]

Hmmm, can those be broken down by red state/blue state voting?

Washington State which is very blue, does not have an income tax.

 

[Luissa]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.

States with no income tax draw more people to their states too. Something that unpopulated states will do in order to generate growth.

States that don't want larger populations have income taxes.

File:Map of USA highlighting states with no income tax on wages.svg - Wikipedia, the free encyclopedia

4 of the 7 states without income taxes have among the lowest populations of all states.

Not only do they attract more people. They attract people with high incomes, and business.

I agree, but I think it is funny that Bill Gate Sr is the one leading the fight this year for a state income tax here in Washington.

 

[shintao]

States with an income tax had growth of 55% the last decade.
States with NO income tax had growth of 81% the last decade.
Guess why.

They received federal funding they did not pay for.

 

[asterism]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.
Tennessee has no income tax. They get their revenue from sales tax and user fees.
Income taxes are bad for the economy.
You get MORE of what you reward and LESS of what you punish.
Taxation is punishing productivity. The more you tax the less productivity you get.

Tennessee is 44th in median household income.

And?

It's a whole lot better than making lots of money and paying huge income taxes in NYC.

Go "be rich" up there if that's what you want.

 

[Missourian]

States that do have an income tax draw MORE businesses to their state.
The more business you have the more workers you have.
Tennessee has no income tax. They get their revenue from sales tax and user fees.
Income taxes are bad for the economy.
You get MORE of what you reward and LESS of what you punish.
Taxation is punishing productivity. The more you tax the less productivity you get.

Tennessee is 44th in median household income.

An irrelevant statistic...Missouri has a low median household income but factoring in a far lower cost of living makes all the difference. My 2 story 4 bedroom 2 bath...1922 sqaure feet, no garage...only cost $35,000. Sure, I bought at the bottom, but even at the top the house only sold for $80,000.
How much would you pay for that sized house in NY..$300,000...half a million at the top of the market?
Rural Tennessee has an average cost of living similar to Missouri so having a lower mean income per household is meaningless when taken in context.

 

[snjmom]

This map is fun, too.

GDP per capita.

 

[Luissa]

This map is fun, too.

GDP per capita.

In Wyoming it has more to do with oil, natural gas, methane, and coal, plus large ranch owners.
My brother is a cattle rancher in Wyoming, his boss owns around 100,000 acres all together in Wyoming. The best part is he lives in a manufactured home. That is one thing I like about people from Wyoming, they don't show off their wealth.