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MO also has no job growth and high unemployment. The only difference is the lower cost of living.
Where is the growth?????????????????????????
Bet it's in areas with lower taxes and more business-friendly environments.
There are a world of differences between MO and CA/NY, as well. Businesses are not leaving MO because taxes are skyrocketing. The same can not be said of CA/NY.
Bet it's in areas with lower taxes and more business-friendly environments.
There are a world of differences between MO and CA/NY, as well. Businesses are not leaving MO because taxes are skyrocketing. The same can not be said of CA/NY.
In this latest recession nearly every state has shed jobs, including MO! I know three relatives who live in the KC metro area who can not find employment, and they have excellent resumes as well as advanced degrees. Missouri Economy at a Glance
I DO agree that NY and CA will not come out of this recession as strongly as other states due to the very high tax burdens that they have. In fact, NY is the most highly taxed state in the country followed by CA.
I also think that some low tax and low COL do not see much in the way of job growth because of poor state and local leadership as well as low educational achievement standards. The reason why companies do not invest in some rural areas are because of the unfavorable demographics.
On the other hand, I live in NH which has a low tax burden. We have not been as severly impacted by the downturn compared to many other states. New Hampshire Economy at a Glance
Total non-farm employment loses have been under 2% over the past 12 months which is quite excellent compared to other states. The only states that have gained jobs have been energy or oil patch states that benefited from the prior years of high energy prices. The projects that were started 2-3 years ago continue to go on-line regardless of the drop in oil prices per barrel. The only states that have seen job growth during this recession have been: Louisiana, North Dakota, Wyoming, and Alaska.
Last edited by GraniteStater; 05-19-2009 at 05:27 PM..
California and New York are prime examples of what happens when you have liberalism dominating politics and government.
No one is rushing to move to lower population states either. I can think of several states that have a low COL and no job growth. Some examples would be: MS, KY, IN, MI, OH, TN, etc.
I completely agree that states with a high tax burden like CA, NY, IL, etc will be slower to recover from this recession as more employers pull up stakes and move to states that feature a more favorable tax climate for business.
Orange County literally bankrupted awhile back, and that's considered the "fiscally conservative" county of CA. I don't see why the entire state wouldn't succumb to it.
In this latest recession nearly every state has shed jobs, including MO!
I never claimed that MO was immune to the recession. My point was (and still is) that higher business taxes drive companies (and jobs) away. States like CA and NY lead the pack in this regard.
Quote:
Originally Posted by GraniteStater
On the other hand, I live in NH which has a low tax burden. We have not been as severly impacted by the downturn compared to many other states.
NH benefits from another tax-happy neighbor: MA. NH is smart to keep a low tax burden and enjoy the benefits of MA's folly.
I never claimed that MO was immune to the recession. My point was (and still is) that higher business taxes drive companies (and jobs) away. States like CA and NY lead the pack in this regard.
NH benefits from another tax-happy neighbor: MA. NH is smart to keep a low tax burden and enjoy the benefits of MA's folly.
I agree, but we have also been impacted by a severe state budget crunch as well. However, our governor will thankfully not institute a new state income tax or sales tax to make up for a short-term problem in the global economic system. We just have to make shorter-term cuts to some social service programs and other state jobs.
However, our governor will thankfully not institute a new state income tax or sales tax to make up for a short-term problem in the global economic system.
Sounds like your governor is wise in this regard. No sense implementing a permanent "solution" to a temporary problem.
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