Texas vs. California – Texas is the clear winner “by a mile”
I’m proud to be a Texan! Comparing California and Texas is a great example of how public policies matter - and they impact not only the economy but our very way of life.
In Texas, the payroll count is back to pre-recession levels. California is nearly 1.5million jobs in the hole. Why such a difference? Chalk it up to taxes, regulation and attitude.
The contrast between America's two largest states, in terms of both population and economic heft, is as stark as it has ever been. Texas is leading the country out of the recession; California is holding it back.
The difference in tax systems reflects a difference in attitudes toward business and the wealth that business generates. Capital gains are tax-free in Texas; in California, they are taxed up to 10.55%. To an entrepreneur choosing where to set up shop, the message is clear: Texas wants to reward success; California wants to tax it.
Investors Business Daily has a great piece worth a read:
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=550471
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Yep Texas is business friendly. Ask any worker. Bosses in Texas are free to almost enslave their workers. Workers have next to no rights. Working folks 60 to 70 hours per week on salary sure helps that productivity.
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