These aren't my numbers. They're from Laffer's book and the numbers come from a variety of sources such as The Franchise Tax Board, National Tax Journal, Institute on Taxation and Economic Policy, Wall Street Journal, Los Angeles Times, National Center for Education Statistics, etc.Originally Posted by Xander
Maybe it'd help if you heard from a fellow countryman:
"The whole business thing is predicated a lot on the tax laws. It's why we rehearse in Canada and not in the USA. A lot of our astute moves have been basically keeping up with tax laws, where to go, where not to put it. Whether to sit on it or not. We left England because we'd be paying 98 cents on the dollar. We left, and they lost out. No taxes at all." --- Keith Richards, Rolling Stones
I believe Gerard Depardieu left France for the same reason --- high taxes.
The best comparison is between states in the same region with similar population sizes. Let's look at New Hampshire vs Vermont, two neighboring states in the Northeast USA.Originally Posted by Xander
New Hampshire has no personal income tax or a general sales tax. Vermont's top income tax rate is 8.95% and it has a 6% general sales tax.
Is there a difference between these two neighboring states?
1. In 2012, Vermont's air traffic totaled 619,000 passengers; New Hampshire got 1.2 million passengers.
2. New Hampshire's population grew by 6.5% between 2000 and 2010. Vermont's grew by only 2.8%.
3. New Hampshire's cumulative adjusted gross income (AGI) change due to migration from other states was $3.21 billion from 1992 through 2009.
Vermont's cumulative AGI was $0.77 billion.