An Inquiry into the Nature and Causes of the Wealth of States : How Taxes, Energy, and Worker Freedom Change Everything.
Arthur B. Laffer
Bok Engelsk 2014 · Electronic books.
| Omfang | 1 online resource (367 pages)
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| Utgave | 1st ed.
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| Opplysninger | Intro -- AN INQUIRY into the Nature and Causes of the Wealth of States -- Contents -- Prologue -- Chapter 1 The Fall from Grace: The Story of States 11 and the Income Tax Adopted -- The Implementation of an Income Tax-A Terrible Mistake -- That Giant Sucking Sound Is People, Output, and Tax Revenue Fleeing Income Taxes -- Economic Malaise -- Misleading Measures -- Ohio -- The Story of New Jersey-A Colorful Example of Opportunity Wasted -- Lower Tax Revenue -- The Rhetoric Surrounding Tax Revenue and the Decline in Public Services -- The Case of the Disappearing Tax Revenue -- Connecticut -- No Bang for the Buck-How Costly Tax Increases Fail to Result in Better Provision of Public Services -- Chapter 2 Economic Metrics -- Primary Economic Metrics -- Tax Revenue Performance of All States over the Past Decade -- The ALEC-Laffer State Rankings -- Internal Revenue Service Tax Migration Data -- Chapter 3 The Nine Members of the Fellowship of the Ring to Balance Out the Nine Nazgûl -- An Analysis of the Top Personal Income Tax (PIT) Rates -- Public Services and the Personal Income Tax -- The Effects of Oil and Severance Taxes -- A Longer-Term View of the Data -- An Analysis of Corporate Income Taxes -- An Analysis of the Overall Tax Burden -- An Analysis of the ALEC-Laffer State Economic Competitiveness Index -- Chapter 4 Piling On -- An Analysis of the Property Tax Burden -- An Analysis of the Sales Tax Burden -- Estate and Inheritance Taxes -- Right-to-Work Laws -- Labor Force Unionization -- State Minimum Wages -- Chapter 5 Give unto Caesar -- New Hampshire-Case in Point -- Top Traders -- Real-Time Mobility Index -- Chapter 6 Why Growth Rates Differ: An Econometric Analysis of the Data -- List of Variables -- Gross State Product Growth: Single-Variable Analysis -- Gross State Product Growth: Two-Variable Analysis.. - Gross State Product Growth: Three-Variable Analysis -- Population Growth: Single-Variable Analysis -- Population Growth: Two-Variable Analysis -- Population Growth: Three-Variable Analysis -- Population Growth: Four-Variable Analysis -- Conclusions -- Annotated Econometric Bibliography -- Key Quotes from Econometric Bibliography -- Chapter 7 Fiscal Parasitic Leakages: Texas versus California -- A Tale of Two States-A 55-Point Summary -- The November 2012 Elections in California and Texas -- The People Have Spoken -- Economic Performance: California, Texas, and the United States -- A Brief Note on Poverty Metrics -- The Texas Oil Boom and California's Oil Bust: A Clash of Economic Cultures -- An Overview of Total State and Local Government Revenues-Texas and California -- Texas, California, and the United States: A Comparison of Tax Revenue and Debt Financing -- Policy Variables Affecting Growth -- The Relationship among Taxation, Spending, and the Achievement of Policy Objectives-A Story of Parasitic Leakages -- Intergovernmental Revenues, Federally Mandated Social Services, and State Welfare, Medicaid, and Food Stamp Programs -- Temporary Assistance for Needy Families (TANF) -- Medicaid -- Supplemental Nutrition Assistance Program (SNAP)Alias Food Stamps -- The Provision of Public Services by State and Local Governments -- The Performance of State and Local Public Education -- Highways: California versus Texas -- Prisons: California and Texas -- Conclusion -- Chapter 8 Au Contraire, Mon Frère: Criticisms of Our Work-Our Responses -- Conflicts of Interest and Policies -- Taxes and Other Supply-Side Policy Variables Don't Affect Population and Gross State Product Growth -- Growth Is a Move from North to South, from Clouds to Sunshine, from Cold to Warm -- Growth Is Predominantly a Matter of Education and Not Taxes and Other Economic Policy Measures.. - Personal Income per Capita and Median Income Growth as Measures of Success Show Taxes Don't Matter -- Tax Rate Cuts Are Public Service Cuts -- Other Factors Affect Population Growth (Oil, Sunshine, Accessible Suburbs, Etc.), and Therefore Taxes, Right-to-Work Laws, and Other Supply-Side Variables Don't -- Correlations between Tax Rates and Growth Refl ect a Simultaneous Equation Bias (Reverse Causation) -- That Is, Growth Causes Tax Cuts, Not the Reverse -- There Are High-Tax States That Outperform Low-Tax States -- Therefore the Supply-Side Theory Is Wrong -- The Oklahoma Argument against Tax Cuts -- Income Distribution Becomes More Even with Progressive High-Rate Tax Codes -- The Probity of the ALEC-Laffer Measures Is Nonexistent -- Therefore Their Policy Prescriptions Are Wrong -- Federal Tax Rates Are More Important Than State Tax Rates, and Therefore State Tax Rates Don't Matter -- The Wealthy Used Public Resources, and They-Not Others-Should Pay for Those Public Resources -- We Need More Progressive Taxes, Not Less -- When Is Enough Evidence Enough? If the Facts Were Reversed, We Would Concede -- Notes -- Bibliography -- Acknowledgments -- About the Authors -- Index.. - A passionate, detailed, quantified argument for state-level tax reform An Inquiry into the Nature and Causes of the Wealth of States explains why eliminating or lowering tax burdens at the state level leads to economic growth and wealth creation. A passionate argument for tax reform, the book shows that even states with small populations can benefit enormously with the right policies. The authors' detailed exposition evaluates the impact state and local government policies have on a state's relative performance and economic growth overall, backed up with economic data and analysis. Facts don't lie. But they do point clearly to the failure of so-called progressive tax schemes designed more to curry favor with selected constituencies than to create an economic system that leads to individual wealth as the reward for hard work and entrepreneurial risk taking. An Inquiry into the Nature and Causes of the Wealth of States is a detailed and critical look at income taxation across the nation, and drills down into an analysis of the economic growth or malaise that results from tax policy. Arguing eloquently that a state cannot tax itself into prosperity, just as the impoverished cannot spend themselves into wealth, the authors point out what many inherently know but often fear to say out loud. The book provides detailed quantitative analysis, and discusses the policy variables that can have enormous effects on the financial well-being of states and individual residents, such as: Personal and corporate income tax rates Total tax burden as a percentage of personal income Estate and inheritance taxes Right-to-work laws An Inquiry into the Nature and Causes of the Wealth of States shows everyone how to evaluate state-level fiscal and economic policies to become more competitive.
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| ISBN | 9781118921234
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