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Suicide Pact

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klinemar View Drop Down
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    Posted: 22 Aug 2013 at 9:32am
Suicide Pact
How to cripple your state in five easy steps.
By  Kevin D. Williamson

It’s not just Texas eating the economic lunch of basket-case states such as California and New York. Kansas City saw about 9,500 new jobs created between May 2012 and May 2013 — every one of them on the Kansas side of the border, where residents and businesses enjoy a significant tax advantage thanks in part to the leadership of Governor Sam Brownback and Kansas conservatives. Johnson County, Kan., gained nearly $800 million in adjusted gross income between 1992 and 2010, and the biggest chunk of it came from Jackson County, Mo., which is down some $1.78 billion in AGI over the same period. Money walks, which is the point of Travis H. Brown’s book How Money Walks, and his website, which contains a wealth of excruciatingly detailed data about where people are taking their families, their businesses, and their income.

From that data, here’s a five-point plan for destroying your state’s economy.

1. Make work expensive. The nine states with the highest personal-income-tax rates lost $100 billion in AGI from 1995 to 2010. The nine states without any personal-income tax gained $146 billion. In all, some $2 trillion has moved between the states during the years for which Brown has data, and the pattern consistently favors low-tax jurisdictions. Taxes are the direct motive factor in some of those decisions, especially for very wealthy people and retirees, though the more important factor probably is the availability of work. Businesses want to invest in lower-tax jurisdictions, and that creates jobs and brings families and their incomes. According to Census Bureau figures, nearly twice as many people move for jobs or job-seeking as for changes in marital status, and about as many people were moving for jobs as were moving because they were buying homes. Jobs move people.

Taxes may be here serving as a proxy for a bundle of pro-growth policies; the kinds of political leaders who keep a lid on taxation are also in the main the kind who are responsible about regulation, education, and related matters. But the figures are nonetheless striking.

These trends also hold true within states. It is no surprise that New York County (Manhattan) has lost AGI to nearby suburban areas such as Westchester County, N.Y., and Fairfield County, Conn., or that Philadelphia, which imposes a city income tax, has lost people and income to nearby suburban counties. But that doesn’t mean that these states are keeping it in the family: New York State has lost $68 billion in AGI, with Florida claiming the biggest piece and North Carolina in the No. 4 spot. Pennsylvania is getting beat out by (in order of magnitude) Florida, North Carolina, South Carolina, Virginia, and Arizona.

2. Attack lifetime savings. Florida is a good place to live and a great place to die. Its lack of a personal income tax is attractive, and so is its lack of an estate tax. By way of contrast, Minnesota imposes a significant estate tax, one that is more rapacious than the federal levy: Whereas the federal tax excludes $5.25 million per person, Minnesota excludes only $1 million. And if you try to give away some of your assets before you kick off, Minnesota imposes its own gift tax, too, at 10 percent. Minnesota lost nearly $4 billion in AGI from 1992, with the largest amounts going to Florida, Arizona, Wisconsin (which recently eliminated its estate tax), Texas, and Colorado.

3. Run up your state’s long-term liabilities. That means fat pensions for unionized state employees funded mostly by hopes and dreams and fairy dust. The states with the most serious unfunded-liability problems are basically ebola-infected hot zones for mobile capital and income. People in Detroit have known for a long time that the city’s 100,000 or so creditors were eventually going to come around looking to get paid, and nobody wanted to hang around to get stuck with the bill, which is one of the reasons why Wayne County has lost $9.57 billion in AGI. Michigan as a whole has lost $16.8 billion, with the largest share of it going to — stop me if this sounds familiar — Florida, Arizona, and Texas. Illinois is down $29.3 billion, and California is down a shocking $45.3 billion, with its incompetent leaders due thank-you notes from Nevada, Arizona, Oregon, Texas, and Washington. Within California, Los Angeles County — the Detroit of the West Coast — is down $36.4 billion.

4. Tax fanciful things. Maryland is the innovation leader here, with the ingenious leadership of Governor Martin O’Malley having decided to levy a tax on rain. Already down $7 billion in AGI largely ceded to Florida, North Carolina, and Virginia, Maryland has declared war on economic development, with its rain tax levying charges on every square inch of impervious surface — rooftops, parking lots, driveways — that will produce runoff in the event of rain. The tax has been so poorly thought out and implemented that it is expected to fall far short of early revenue estimates, meaning that the state will pay the price for the tax but realize relatively little of the hoped-for revenue. It’s harder to take business away from Maryland, because so much of its economy is based on its proximity to the hog trough in Washington, D.C., but it lost out to Virginia in its bid to secure the world headquarters for Northrop Grumman in 2010, and Virginia has made a play for Maryland’s biggest business, Lockheed Martin. Bechtel was considering uprooting its Maryland operations, probably for Virginia, and the state was reduced to offering the company a $9.5 billion sweetheart loan to stay put. The real impervious surface in Maryland is the thick skulls of its political class.

5. Don’t just be crazy — be California crazy. California is running out of things in the present to tax, and its future does not look terribly bright, so it has resorted to taxing the past. A combination of judicial shenanigans and legislative incompetence resulted in California’s reneging on tax incentives that had been offered to some businesses — and then demanding the retroactive payment of taxes for which businesses had never been legally liable. Small-business owners, some of whom had sold their businesses years ago, suddenly got demands for taxes running well into the six figures. And, California being California, it had the gall to charge those businesses interest on taxes they had never owed. Jim Fowler, a software entrepreneur, was hit with a bill for more than $600,000. “I think that’s the part that’s really going to ruin trust in the state of California,” he said. “You can’t do this to entrepreneurs. Entrepreneurs will stop coming here.”

There was a time — and it really wasn’t that long ago — when if you were a financial firm, you had to have an office in Lower Manhattan, when film studios had to have offices in Los Angeles, and high-tech firms really needed to be in Silicon Valley. If Travis Brown’s big data set shows us anything it is that those days are done. You can build very fine automobiles in the United States, but if you aren’t already in Detroit, you’d be a fool to set up shop there. For the feckless governors of high-tax, big-government states with Governor Perry and Governor Scott breathing down their necks, the only question is which Rick they’re going to get rolled by.

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Tracy Martin TN View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tracy Martin TN Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 9:37am
Wait till the idiot from MN chimes in. I am sure he will try to enlighten us! Tracy Martin
Liberals should know this by now. Voting for Obama the first time was ignorant, voting for him the second time was just stupid.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 427435 Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 11:16am

Unemployment Rates for States

Unemployment Rates for States
Monthly Rankings
Seasonally Adjusted
July 2013p
RankStateRate
1 NORTH DAKOTA 3.0
2 SOUTH DAKOTA 3.9
3 NEBRASKA 4.2
4 HAWAII 4.5
5 UTAH 4.6
5 VERMONT 4.6
5 WYOMING 4.6
8 IOWA 4.8
9 NEW HAMPSHIRE 5.1
10 MINNESOTA 5.2
11 MONTANA 5.3
11 OKLAHOMA 5.3
13 VIRGINIA 5.7
14 KANSAS 5.9
15 WEST VIRGINIA 6.2
16 ALABAMA 6.3
16 ALASKA 6.3
18 TEXAS 6.5
19 IDAHO 6.6
20 WISCONSIN 6.8
21 MAINE 6.9
21 NEW MEXICO 6.9
21 WASHINGTON 6.9
24 LOUISIANA 7.0
25 COLORADO 7.1
25 FLORIDA 7.1
25 MARYLAND 7.1
25 MISSOURI 7.1
29 MASSACHUSETTS 7.2
29 OHIO 7.2
31 ARKANSAS 7.4
31 DELAWARE 7.4
33 NEW YORK 7.5
33 PENNSYLVANIA 7.5
35 ARIZONA 8.0
35 OREGON 8.0
37 CONNECTICUT 8.1
37 SOUTH CAROLINA 8.1
39 INDIANA 8.4
40 KENTUCKY 8.5
40 MISSISSIPPI 8.5
40 TENNESSEE 8.5
43 DISTRICT OF COLUMBIA 8.6
43 NEW JERSEY 8.6
45 CALIFORNIA 8.7
46 GEORGIA 8.8
46 MICHIGAN 8.8
48 NORTH CAROLINA 8.9
48 RHODE ISLAND 8.9
50 ILLINOIS 9.2
51 NEVADA 9.5
Mark
B10, 917, 7790 Simplicity

Ignorance is curable-----stupidity is not.
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JC(WI) View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote JC(WI) Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 11:44am
1. Make work expensive.
2. Attack lifetime savings. 
3. Run up your state’s long-term liabilities
4. Tax fanciful things
5. Don’t just be crazy — be California crazy. 
 
Yup, that'll do it... 
 But then if you want it to stop, you need to elect solid grounded citizens.. not doofus career politicians. But then libs are good at doing  that.
He who says there is no evil has already deceived himself
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klinemar View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote klinemar Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 1:16pm
427 take a good look at your Unemployment ranking at where New York,California and Michigan is. From the news I read about Minnesota you should be joining us soon!
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Coke-in-MN View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Coke-in-MN Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 4:16pm
July 1 2013 most of the NEW Dem taxes took effect in MN so the chart doesn't show the trend now starting . 
With WI lowering taxes, ND lowering taxes, Iowa lower than MN and SD with no state income tax - guess where businesses are moving 
 Hudson WI - just across the border from the Twin Cities is having a boom in business as many businesses fleeing MN can just go 20 miles and set up NEW places for their employees to drive to . GM Distribution center moved there a few years back and now another large employer is opening a warehouse and distribution center there to avoid taxes .
 MN now passed a warehouse tax - and the law takes effect in 2014 - but the effect is already felt - business fleeing . So the Dems are now talking of a special session to repeal it - also they have realized their tax and spend policies of the last legislature under complete Dem control has created a uproar from both citizens and business. 
 Also under the watchful eyes of the Dems the new Vikings stadium is now being funded not from gambling like it was suppose to be with electronic pull-tabs but with a direct tax on citizens .  Then with the vikings owner losing a large fraud lawsuit his roll in the new stadium and his ties to Dem legislatures is being looked into.  
YOU DON'T THINK YOUR WAY TO A NEW WAY OF LIVING --
YOU LIVE YOUR WAY TO A NEW WAY OF THINKING ..
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Coke-in-MN Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 4:21pm

Unemployment analysis tells a disturbing story

On the surface, it appears that Minnesota is recovering quite well from the Great Recession. Figures released todayshow the state is adding jobs and the unemployment rate is well below the national level.

However, if you take a closer look, many Minnesotans are shut out of the recovery.

We just released a new analysis of unemployment rates from 2007 through the first three months of 2013 that found some disturbing disparities in Minnesota.

The analysis, Many Minnesotans Still Without Jobs in Economic Recovery, found that while Minnesota’s overall unemployment rate has gotten close to the rate at the start of the recession, some Minnesotans were hit especially hard during the recession and are still looking for work.

In Minnesota, the young, the less educated, single-adult households and people of color have the highest unemployment rates.

Our analysis examines unemployment for each group.

People of color were particularly hard hit in the recession. Unemployment for people of color jumped to more than three times the rate for white Minnesotans during the recession. Unemployment for people of color has since fallen, but remains 4.6 percentage points higher than for white Minnesotans.

unemployment by race

The analysis concludes that Minnesota can take some steps to address these disparities, even though state policymakers have little influence over national economic trends. Investments made in the 2013 Legislative Sessionto make college more affordable are a good step, but there is more to do in order for the recovery to reach all Minnesotans.

-Barb Brady

YOU DON'T THINK YOUR WAY TO A NEW WAY OF LIVING --
YOU LIVE YOUR WAY TO A NEW WAY OF THINKING ..
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Coke-in-MN Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 4:28pm

Minnesota’s job market posted its second straight negative month, shedding 11,400 jobs in April, the state said Thursday.

The biggest job losses were in trade, transportation and utilities, which shed 5,700 jobs, according to figures released by the Minnesota Department of Employment and Economic Development.
 
Meanwhile, the Minnesota unemployment rate fell to a seasonally adjusted 5.3 percent in April, its lowest point since May 2008 and well below the U.S. rate of 7.5 percent in April. The March figures were revised upward from 5,200 jobs lost to 3,300 jobs lost.
 
Minnesota has now fallen behind the nation in job growth over the past 12 months, at 1 percent, compared with a U.S. rate of 1.6 percent during that period.
 
"While we've seen mixed results in the labor market in recent months, the overall outlook for jobs in Minnesota remains positive," said Katie Clark Sieben, commissioner of the department. "Eight of the state's 11 major industrial sectors have gained jobs in the past year, and the unemployment rate is at a five-year low."
 
Government, hotels and restaurants, manufacturing, professional and business services, financial activities and construction all lost jobs on the month as well.
 
In the state Metropolitan Statistical Areas, job gains occurred in the past 12 months in the Minneapolis-St. Paul MSA (up 1.5 percent), Rochester MSA (up 0.9 percent), Duluth-Superior MSA (up 0.8 percent), Mankato MSA (up 0.7 percent) and St. Cloud MSA (up 0.2 percent).


Edited by Coke-in-MN - 22 Aug 2013 at 4:29pm
YOU DON'T THINK YOUR WAY TO A NEW WAY OF LIVING --
YOU LIVE YOUR WAY TO A NEW WAY OF THINKING ..
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klinemar View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote klinemar Quote  Post ReplyReply Direct Link To This Post Posted: 22 Aug 2013 at 8:54pm
Michigan has regulated and taxed itself out of the job market with many businesses both old and new settling in neighboring Indiana. I tried to explain this fact last year to a die hard liberal in the Metro area but he had not been out state to see the difference! While working in Indiana last fall I was amazed at the new factories that had been built just over the border in places like Kendallville,Orland, Butler, North Manchester and Fort Wayne.
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