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Then maybe you should ask yourself why everyone is fleeing the policies you advocate and moving here...
What policies are you referring to? Because NY and CA are not bastions of progressive policy either. The democratic party is rotten to the core, and implements policies that benefit their corporate donors rather than their voters. That's true for the democrats in NC as well... progressives have only set policy in a few states. But as for why people flee NY and CA (and bear in mind the populations of those states are still growing rapidly), it's because property values are preposterous, and people earning the median income literally can't afford live in the major cities there. They've become enclaves for the rich. That's not progressive policy, that's not taxes. That's our capitalist economy suffocating the middle class all over the entire country.
By the way, people are fleeing Kansas too. How could that be? Surely the tea party policies should be helping the state out... yet when they cut taxes they went from 12th to 41st in job growth. Whoops!
Almost like taxes have nothing to do with economic growth. Of course anyone who studied economics or history would know that. Reminder that the US went through its biggest period of economic expansion in the 50s and 60s when we had vastly higher income taxes, corporate taxes, and capital gains taxes than we do now. It's almost like this right wing talking point is complete bunk... yet it keeps cropping up.
That's because these days, every other publication puts out lists like those. They weren't as common a couple of years ago as they are now.
As far as taxes go, NC used to be the highest-tax state in the Southeast, yet it still ran circles around its neighbors. This is a couple of years old but still pertinent:
[Gov. Perdue and the Democrats] have argued that North Carolina has been a leader in the South for the past several generations precisely because it has invested more than its sister states in creating a nationally respected university system, a noted community college system, and has historically been a leader in roads and the arts. That North Carolina — unlike other parts of the South — has not engaged in a race to have the lowest taxes in the South, the Democrats argue, has allowed the state to develop a more sophisticated industrial policy that has resulted in such success stories as the Research Triangle Park…
[Republican U.S. Senator Richard Burr:] “We are the highest-tax state in the Southeast. And we still win. We win more than our neighboring states.” The main reason, Burr said, is because of North Carolina’s education system, particularly its university and community college system. “When an employer looks at an investment in North Carolina, they are not looking at the return next year,” Burr said. “They are looking at the return 30 years from now. They need a future workforce that has the skills and knowledge.”
That's because these days, every other publication puts out lists like those. They weren't as common a couple of years ago as they are now.
As far as taxes go, NC used to be the highest-tax state in the Southeast, yet it still ran circles around its neighbors. This is a couple of years old but still pertinent:
[Gov. Perdue and the Democrats] have argued that North Carolina has been a leader in the South for the past several generations precisely because it has invested more than its sister states in creating a nationally respected university system, a noted community college system, and has historically been a leader in roads and the arts. That North Carolina — unlike other parts of the South — has not engaged in a race to have the lowest taxes in the South, the Democrats argue, has allowed the state to develop a more sophisticated industrial policy that has resulted in such success stories as the Research Triangle Park…
[Republican U.S. Senator Richard Burr:] “We are the highest-tax state in the Southeast. And we still win. We win more than our neighboring states.” The main reason, Burr said, is because of North Carolina’s education system, particularly its university and community college system. “When an employer looks at an investment in North Carolina, they are not looking at the return next year,” Burr said. “They are looking at the return 30 years from now. They need a future workforce that has the skills and knowledge.”
I'm not arguing that the education system isn't a huge draw, but the low corporate tax rates are just as important as a highly educated labor pool. Our GDP and income has increased at a substantial rate since these policies were implemented
Quote:
Originally Posted by Vatnos
Almost like taxes have nothing to do with economic growth. Of course anyone who studied economics or history would know that. Reminder that the US went through its biggest period of economic expansion in the 50s and 60s when we had vastly higher income taxes, corporate taxes, and capital gains taxes than we do now. It's almost like this right wing talking point is complete bunk... yet it keeps cropping up.
I'll break it down so it's really easy for you to understand: Corporations are more likely to move where the tax burden is lower
I'm not arguing that the education system is a huge draw, but the low corporate tax rates are just as important as a highly educated labor pool. Our GDP and income has increased at a substantial rate since these policies were implemented.
Not so sure I'd agree with that. For all of the criticisms of "high tax, liberal" states like NY, MA, CA, etc., the fact of the matter is that they still have a huge edge on low tax states in many key areas, like mobility, infrastructure, etc. The high value industries in those states are pretty much fixed and those states aren't sliding into the abyss as some here have implied, at least not on the basis of taxes alone.
As far as the increase in GDP and income go, the most we can say at this point is that they occurred in the midst of a nationwide economic recovery from the recession. It can't be said for certain what impact changes in tax policy have had, especially for a state that was already an economic winner and a model for other Southern states. I just hope that NC finds a balance and doesn't try to go the route of MS or KS, which is nothing more than a race to the bottom.
I'm not arguing that the education system isn't a huge draw, but the low corporate tax rates are just as important as a highly educated labor pool. Our GDP and income has increased at a substantial rate since these policies were implemented
As to your first point, not at all true. An educated workforce (and many other things) are far more important than taxes. Many surveys of corporate relocation executives prove this. Taxes are usually about 7th on the list of key factors. As to your second point, post hoc ergo propter hoc.
Quote:
Originally Posted by vulfpeck
I'll break it down so it's really easy for you to understand: Corporations are more likely to move where the tax burden is lower
Only true if everything else is equal. But everything else is never equal.
I'll break it down so it's really easy for you to understand: Corporations are more likely to move where the tax burden is lower
Spoken like a true economist. But, this is not the 60's anymore and things have changed. Sorry, but that's not true. There is MUCH more that goes into a corporations decisions than low taxes.
It starts off with this: This series examines the top-10 location factors from Area Development’s Q1/2016 Corporate Survey that determine where our readers will locate and/or expand their facilities. Availability of skilled labor is their primary concern, followed by highway accessibility.
It should be noted that this publication focuses a lot on manufacturing in particular.
It starts off with this: This series examines the top-10 location factors from Area Development’s Q1/2016 Corporate Survey that determine where our readers will locate and/or expand their facilities. Availability of skilled labor is their primary concern, followed by highway accessibility.
It should be noted that this publication focuses a lot on manufacturing in particular.
We've improved dramatically in all of those categories over the last several years. I hope Cooper doesn't screw up the friendly regulatory and tax environment
We've improved dramatically in all of those categories over the last several years. I hope Cooper doesn't screw up the friendly regulatory and tax environment
"Friendly" I know many whose businesses have been shut down by Pat because his engineer buddies went to him crying and he sent desist orders their competitors. He is the worst governor to ever govern this state.
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