Hey business owners...
2 posters
Hey business owners...
Hey business owners...
Neal Boortz
Jan. 27, 2012
… if you want to know the best and worst states for business, listen up! The Tax Foundation has released its latest analysis of state business tax climates, and you probably won’t be surprised by the results …
The 10 best states in this year’s State Business Tax Climate Index are:
1. Wyoming – No corporate or income tax and a right-to-work state
2. South Dakota – No corporate or income tax and a right-to-work state
3. Nevada – No corporate or income tax and a right-to-work state
4. Alaska – No income tax or state sales tax
5. Florida – No income tax and a right-to-work state
6. New Hampshire – No sales tax
7. Washington
8. Montana – No sales tax
9. Texas -- A right-to-work state
10. Utah – A right-to-work state
The 10 lowest ranked, or worst, states are:
41. Iowa
42. Maryland
43. Wisconsin
44. North Carolina
45. Minnesota
46. Rhode Island
47. Vermont
48. California
49. New York
50. New Jersey
Another thing to take note of … Illinois had the most dramatic move on the list, falling twelve places to #28. Why the fall?
So Illinois raises taxes because the liberal thought process is that tax increases net you more revenue. Unfortunately liberal thought is not backed by historical fact or logic. The tax increase did not shore up their fiscal woes. I could have told you that one! And not only that … unemployment rates in Illinois have increased. In fact, Illinois placed more people on the unemployment rolls than any other state in the country
The U.S. Bureau of Labor Statistics recently reported some good news: Unemployment rates have dropped in 46 states from January 2011 to January 2012 … except for four states. Guess what? Illinois was one of those states! Illinois's sharp rise in unemployment (+0.8%), while most of the country and all of their neighbors saw drops, suggests that the tax increases are a contributing factor.
Will this be a lesson for other states looking to shore up their budgets or deficits by raising taxes? Doubtful, if there is a Democrat at the helm.
Neal Boortz
Jan. 27, 2012
… if you want to know the best and worst states for business, listen up! The Tax Foundation has released its latest analysis of state business tax climates, and you probably won’t be surprised by the results …
The 10 best states in this year’s State Business Tax Climate Index are:
1. Wyoming – No corporate or income tax and a right-to-work state
2. South Dakota – No corporate or income tax and a right-to-work state
3. Nevada – No corporate or income tax and a right-to-work state
4. Alaska – No income tax or state sales tax
5. Florida – No income tax and a right-to-work state
6. New Hampshire – No sales tax
7. Washington
8. Montana – No sales tax
9. Texas -- A right-to-work state
10. Utah – A right-to-work state
The 10 lowest ranked, or worst, states are:
41. Iowa
42. Maryland
43. Wisconsin
44. North Carolina
45. Minnesota
46. Rhode Island
47. Vermont
48. California
49. New York
50. New Jersey
Another thing to take note of … Illinois had the most dramatic move on the list, falling twelve places to #28. Why the fall?
Only a year ago, Governor Pat Quinn and his fellow Democrats raised individual income taxes by 67% and the corporate tax rate by 46%. They did it to raise $7 billion in revenue, as the Governor put it, to “get Illinois back on fiscal sound footing” and improve the state’s credit rating. So much for that.
…And—no surprise—in part because the tax increases have caused companies to leave Illinois, the state budget office confesses that as of this month the state still has $6.8 billion in unpaid bills and unaddressed obligations.
So Illinois raises taxes because the liberal thought process is that tax increases net you more revenue. Unfortunately liberal thought is not backed by historical fact or logic. The tax increase did not shore up their fiscal woes. I could have told you that one! And not only that … unemployment rates in Illinois have increased. In fact, Illinois placed more people on the unemployment rolls than any other state in the country
The U.S. Bureau of Labor Statistics recently reported some good news: Unemployment rates have dropped in 46 states from January 2011 to January 2012 … except for four states. Guess what? Illinois was one of those states! Illinois's sharp rise in unemployment (+0.8%), while most of the country and all of their neighbors saw drops, suggests that the tax increases are a contributing factor.
Will this be a lesson for other states looking to shore up their budgets or deficits by raising taxes? Doubtful, if there is a Democrat at the helm.
TexasBlue
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