First, the great engine of growth in America is not the Northeast Megalopolis, which was growing faster than average in the mid-20th century, or California, which grew lustily in the succeeding half-century. It is Texas.
Texas’ diversified economy, business-friendly regulations and low taxes have attracted not only immigrants but substantial inflow from the other 49 states. As a result, the 2010 reapportionment gives Texas four additional House seats.
This leads to a second point, which is that growth tends to be stronger where taxes are lower. Seven of the nine states that do not levy an income tax grew faster than the national average.
All Yankees are welcome to Texas … well… almost all.
John I spent a few months working in Tx and found the people very kind and helpfull. But when conversation started and my Midwest accent was noticed it was clear that I was welcome as long as I was leaving. Funny but true.
Any warm climate state does well, since many people are retiring and moving to warm states. Also people who are poor, have little assets, who are paying high heating costs in the north, want lower taxes to pay, and are on fixed incomes, are escaping to these states in droves.
You have to talk kinda funny and walk to one side when you come
to Texas. Try to wear the right kind of clothes and you’ll fit right in
next time. If someone calls you a redneck, just pretend you like it.
No one will ever know your a damn yankee. Be sure and eat some
jalapenos and don’t show no pain. Don’t hold a hankie or let your
little finger stick out when you talk. I’ll put the good word in for ya.
Around $20 billion is needed to balance Texas state’s budget. Two issues will dominate the upcoming session of the state legislature: the budget shortfall and redistricting.
Estimates vary, but legislators will need around $20 billion to balance the state’s budget. In past sessions, real estate has offered an inviting target for new sources of revenue. Proposals to tax your services or to tax real estate transactions may once again surface in debates.
As a percentage of the GDP, Texas has taken a small hit from the economic down turn. During recent times, our constitutional requirement for a balanced budget has kicked in and Texas Gov’t has been compelled by law to reduce it’s size in order to balance the budget.
I love seeing this at work and it would be wonderful for the Feds to be held to this standard. It makes the Gov’t run lean and bounce back quickly.
And Texas has done all this with a government that has only met 90 days over the past two years and with no state income tax.
**If Obama claims credit for creating any jobs in the nation (and he does)… 70% of those jobs were created in Texas. No brag, just fact. (pssst… we did it without Obama)
