Professor Mark J. Perry's Blog for Economics and Finance
What feature do 15 out of the top 16 states for economic outlook have in common?
What feature do the top 8 states for domestic migration have in common? What feature do the bottom 10 states have in common?
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
9 Comments:
Other than taxes, there are a large number of variables that impact these rankings.
For example, Virginia gets a huge boost from sitting adjacent to that marble rat hole, Washington DC.
Laffer is, to borrow an old phrase, like a broken record.
Looks like the baby boomers are retiring, therefore we see an influx of people into the warmer climate states. As far as the variables used for ranking, only 15, get real. You might as well put the states in a tumbler to determine their ranking.
As much as I like the idea of low taxes, I agree with Treve. Correlation is not causation.
Actually, there are exactly 15 variables and they are all based on government 'policy', as indicated at the tops of the lists themselves. One (1) of those policies is 'right to work'.
What do all blue cars have in common? Well, they're blue.
Your conclusions are truly a stupendous example of academic rigor.
Nice to see people fleeing from reality...
Taxes are the driving force for the most part...
Consider the states that have the most taxes and you'll probably see they are also the most over regulated which is just another form of tax...
Am I the only one who actually clicked on the link that tells what they have in common?
The answer is that they are all right to work states (good states), or forced unionism states (bad states), respectively.
If you look at stats for changes in manufacturing employment it makes things clear.
Peculiar that Michigan, a.k.a. the U.S auto capital, isn't mentioned anywhere in the top or bottom lists??
P.S. ..although Michigan is mentioned as a net "outflow" state, but not for economic outlook.
Five of the top 10 states have no state personal income tax. All of the bottom 10 have a state personal income tax.
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