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WBOY-TV – News for Clarksburg, Fairmont, Morgantown, West Virginia (http://www.wboy.com/story.cfm?func=viewstory&storyid=26494 - broken link)
Latest Forbes ranking highlights W.Va.'s need for tax reform.
Story by Juliet A. Terry Email | Bio
It finally happened.
No more, "Thank goodness for Mississippi," or Louisiana, or Alabama or any other state that has kept West Virginia out of the bottom.
The Mountain State, for all of its natural beauty and other good qualities, has reached the bottom, at least according to Forbes magazine.
In its latest ranking of best states for business, West Virginia is 50th in the nation. And for all those who joke that the way to fix West Virginia's economic problems is to drop the "West" and adopt Virginia's state code, Forbes provides a not-so-subtle nudge -- Virginia took the top spot in the business climate rankings.
Forbes' conclusions may not reflect some modest tax reforms enacted in the last two years, but many recognize the magazine's ranking affects how other states and countries perceive West Virginia.
"We are on a downward spiral of mediocrity. ... How many more wake-up calls do we need?" said Sen. Brooks McCabe, D-Kanawha, chairman of the Senate Economic Development Committee.
"We've got to have a crisis mentality, and we don't have it yet," McCabe said. "We're growing at half the rate of the states around us, and we are getting farther and farther behind every year. ... We've lost two generations of youth, which is why we're the oldest state in the country. How much more are we willing to lose?"
Changing the Business Climate
Government leaders are not in the dark about what needs to change in West Virginia, particularly when it comes to the state's tax structure, which many blame for the state's poor business climate.
According to Forbes, change needs to come soon to the Mountain State. Part of West Virginia's overall 50th place includes coming in last for economic growth prospects, which measures projected job, income and gross state product growth, as well as business openings/closings and venture capital investments.
To many, the state's business taxes are the underlying factors that inhibit growth, but changing the system is no easy task.
I just thought this article was interesting, I'm sure many of you have already read it. I wonder how long it will take, if it happens, that a new tax policy is adopted in WV. I'm just hoping it happens soon!
I still do not understand why much more isn't being done to make WV a more attractive business state. Manchin can't go at this alone, he needs support from not only his fellow lawmakers which is hard enough, but he needs support from the citizens of WV.
Last edited by Yac; 07-26-2007 at 07:49 AM..
Reason: quote shortened, copyright protection
My favorite new Ridiculous Tax is the $20 fee on a Real Estate transaction.
It goes into the coffers of Habitat for Humanity.
As a citizen of the State of West Virginia, I want to let the world know that we are building houses for our needy citizens with your money...has anyone thought to take this one to the Supreme Court?
Come here, buy here and pay our exorbitant and ridiculous taxes and breathe the clean fresh mountain air before it is taxed too.
Become like us, educate your children and send them to other areas to work and raise their families.
If you keep your home as a second home and live elsewhere, it will be taxed at double the rate.
If you deed a parcel of land to your children to come home and retire on...that will be taxed double too.
What does most of the tax money go for...teacher raises...to keep them just off the bottom of the wage pile...and our middle school and high school system is a pot smoking shambles...god help us amen...
One alternative would be to segment the state into distinct regions and see if Virginia, Pennsylvania, Ohio, Kentucky or Maryland would want any of it.
For years, the eastern panhandle has wanted to go home to Old Virginia. Those five counties were left orphaned to themselves like the southern part of the state until the migration from DC began in the 1980's.
Pennsylvania would probably take the North Central area as far south as Buckhannon/Weston.
I would expect the counties bordering Ohio and Virginia would vote to be absorbed as the West Virginians there do all their buying in those neighboring states now. Part of the Sales Tax Reduction this year was due to this revenue loss.
The new tax that has the legislature's mouths watering is the Internet Tax. When they underwrite the new high speed internet service for every living soul in West Virginia they will be able to tax every living soul in West Virginia...Couple that with the dead souls that vote straight Democratic every election and we have what we have...
We are just a poor ignorant people and only need the manna that the master provides...Just like the days of King Coal and the mining camps...you kids are young and new to this...stop saving the whales and start saving this beautiful state, its the only one we will have...Its a gem...thats why everyones coming here...there is nothing like it...So far I've traveled to every state but Alaska and to Australia, Cuba, Malaysia,China, Phillipines, New Zealand, Japan, Canada, Fiji, Korea, Tiawan, and Little America at Antartica. There's no other place like West Virginia and its great family of people...If you do not take a notion to perserve it...it will be sucked up and spat out by fat cats who will leave it in worse shape than Logan and McDowell's mountain top removal. I've spoken fascetiously for the moment but I wanted you children to start thinking...
If anyone in the state government was serious about tax reform they would go straight to Oregon and see what wise government management can do...and they are more liberal and socialistic than West Virginia will ever be...If you notice the migration out of California with the Swartzentaxes, you will notice that everyone is going north..Theres a good reason...Good Luck!
Last edited by David Kennedy; 07-25-2007 at 07:27 PM..
We have just retired and living in tropical Fla. Grew up in the frigid upper Midwest. Would like to relocate possibly in WV. Can anyone tell me anything about Princeton WV?
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