Tuesday, July 22, 2014
Why isn't everyone moving...
article in Forbes (Forbes!):
Since the first round of tax cuts, job growth in Kansas has lagged the U.S. economy. So have personal incomes.
The business boom predicted by tax cut advocates has not happened, and it certainly has not come remotely close to offsetting the static revenue loss from the legislated tax cuts.
Meanwhile, in the Golden State:
So what happened after voters approved the tax increases, which took effect at the start of 2013?
Last year California added 410,418 jobs, an increase of 2.8 percent over 2012, significantly better than the 1.8 percent national increase in jobs.
California is home to 12 percent of Americans, but last year it accounted for 17.5 percent of new jobs, Bureau of Labor Statistics data shows.
So next time someone tries to tell you that raising income taxes will destroy jobs, tell them the evidence just does not support that claim.