Friday, July 10, 2015
Gov. Bruce Rauner promised...
Yikes! Did he really say that? Yep; according to the Chicago Tribune (all emphasis mine):
"Believe me, I am going to rip — try to rip the economic guts out of Indiana," Rauner said. "I am one of the baddest, you know, enemies anybody can have. And when I set a goal, we do it. I don't care what the headline is. I want the results. And we're coming after Indiana big time. But you know what, we're going to do it on our terms, the right way."
Wow! I wouldn't want to mess with that guy.
But maybe the private equity tycoon should "care what the headline is" after all. Here's one he may have missed, "Indiana's economic development report card is mixed":
Indiana has built an exceptionally friendly business climate but continues to lag badly behind other states in some critical components needed to build a dynamic and creative culture, according to a report from the Indiana Chamber.
An Indiana Vision 2025 Report Card produced by the Chamber shows Indiana is No. 1 in the nation when it comes to regulatory freedom but ranked 47th when it comes to entrepreneurial activity.
Instead of beating up on poor ol' Indiana, maybe Gov. Rauner should turn his attention to a different Midwestern state, like -- oh, I don't know -- Minnesota:
Even though Minnesota's top income tax rate is the 4th-highest in the country, it has the 5th-lowest unemployment rate in the country at 3.6 percent. According to 2012-2013 U.S. census figures, Minnesotans had a median income that was $10,000 larger than the U.S. average, and their median income is still $8,000 more than the U.S. average today.
By late 2013, Minnesota's private sector job growth exceeded pre-recession levels, and the state's economy was the 5th fastest-growing in the United States. Forbes even ranked Minnesota the 9th-best state for business (Scott Walker's "Open For Business" Wisconsin came in at a distant #32 on the same list). Despite the fearmongering over businesses fleeing from Dayton's tax cuts, 6,230 more Minnesotans filed in the top income tax bracket in 2013, just one year after Dayton's tax increases went through. As of January 2015, Minnesota has a $1 billion budget surplus, and Gov. Dayton has pledged to reinvest more than one third of that money into public schools. And according to Gallup, Minnesota's economic confidence is higher than any other state.