Chart source: Carpe Diem Blog & IBD 3/5/08
The overall tax rates of our 50 states matter now more than ever. The recent Democrat Debates should have you nervous if you look at the chart above. The relationship between lower taxes and higher household incomes is evident. Clinton & Obama were not engaged in a debate about lowering taxes.......quite the opposite.
On a side note: States like Minnesota need to understand that the business environment needs to surpass other competing states (yes we compete) in both reduced taxation and regulation. Michigan is just to our east, and where is Toyota building a majority of their US operations? It is not in the Motor City or anywhere near the state!!
If we are going to maintain our high standards of living here in Minnesota the political parties had better take note before we hear......as Ross Perot put it: "The large sucking sound to the south!". I am not talking about Mexico either!!
