How do you destroy an economy? According to this op-ed piece in Wall Street Journal Online you copy the tax and spend policies of states like Michigan, Illinois and Ohio. If you have time you should read the article, if not, here’s a summary.
It’s no secret that states such as Texas, Florida and Arizona are doing quite well. What many people may not know is those states with the highest job growth also have the lowest per-capita state spending, averaging $5519. The opposite is true for the three worst economies whose state spending averages $6484 per capita.
It’s also no surprise that the states struggling the most economically have higher union participation and higher minimum wage laws. While Michigan lost 83,000 auto manufacturing jobs, 91,000 were created in southern states.
Listen to what the candidates are telling you. Obama will increase taxes on the “rich” (small business owners/job creators). John McCain wants to cut taxes on businesses. Barack Obama wants to increase spending. John McCain wants to cut spending.
The data suggests that the more we ask of government, the less well off we become. Dependency is not the answer.
Hat Tip to Maggie’s Notebook
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