New England's bleak future - Page 2 - Mercedes-Benz Forum

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post #11 of 11 (permalink) Old 11-24-2008, 07:22 AM
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Originally Posted by bottomline1 View Post
That little puff-piece missed the whole problem. These states have the highest tax rates, which depresses economic activity, and folks are voting with their feet, populating states to the south. And these emigrants are turning the "cheap" states blue with their political leanings and will re-create the same problems they just left. As of this election, no NE state has a Republican, let alone a conservative, representative to the House.

The same thing has happened in California. The out-migration to neighboring states can be directly corelated to their lower income tax rates. California has a steeply progressive income tax with a 10.3 percent rate applied to high-income residents, the third-highest in the nation. The richest 10 percent of earners pay nearly 75 percent of the income tax burden in California.

Also, noteworthy is that the 80% of the revenue loss between 2001 and 2003 was a result of disappearing millionaires, whose number dropped from 44,000 in 2000 to 29,000 in 2002, representing a loss of nearly $6 billion in annual tax revenue collections.

AS for Massachusetts, voters there just dumped an opportunity to get rid of the income tax, but they legalized marijuana, but outlawed dog racing. Beginning to look like California.

New Hampshire has no income or sales tax. Vermont, which the article states will see the lowest unemployment, has the highest taxes.

I've seen this kind of doom-saying in the past for New England. It never seems to pan out, for one important reason - New England has the most educated work force in the country, and the best quality of life in the US. I wouldn't count them out. The WSJ, Fox News's new mouthpiece, just hates liberals, so they pretty much just make up this shit about the most liberal part of the US.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address

Last edited by FeelTheLove; 11-24-2008 at 07:28 AM.
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