Thursday, September 24, 2009
Among the states, the best and worst business tax climates. The bottom three are especially predictable.
Remember that's business tax climates, not business climates.
That explains, for instance, why my state, Washington, does relatively well. We have no income tax, but are not a haven for business, especially small business.
Arther Laffer wrote a fearful pleading on the subject of high taxation in the WSJ today that's worth reading.
As awful as high state taxes are for citizens and, especially, their employers the overall level of taxation in the economy has got to the point where it's negatively impacted small business formation. That'll mean fewer jobs for years to come and persistent unemployment.
I don't know what to make of this one, but some researchers at Cal State Sacramento have released a study that claims the cost of regulation in California is an astonishing $500 billion, borne almost entirely by small businesses.