Global Courant 2023-04-19 14:00:09
The Republican-led red states are generally in much better economic shape than the Democrat-led blue states, according to a new report ranking the economic outlook of all 50 states.
The latest analysis published by the American Legislative Exchange Council (ALEC), a nonprofit organization of state legislators “committed to the principles of limited government, free markets and federalism,” ranked Utah as the nation’s best economic climate for the 14th consecutive time . year.
The annual Report “Rich States, Poor States”., written by economists Stephen Moore, Arthur Laffer, and Jonathan Williams, calculated each state’s economic outlook by taking into account 15 variables — such as taxes, minimum wage, policies toward unions, and the quality of the justice system — to produce a definitive ranking to create. The authors noted that each variable is directly influenced by state lawmakers during the legislative process.
Welcome to the Utah sign on the Utah/Arizona border. (Education Images/Universal Images Group via Getty Images)
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Most of the red states joined Utah at the top of the list of best economic prospects for 2023. Here are the top 10:
UtahNorth CarolinaArizonaIdahoOklahomaWyomingIndianaNorth DakotaFloridaNevada
New York Governor Kathy Hochul speaks at the Clinton Global Initiative (CGI) annual meeting in New York, Sept. 20, 2022. (Michael Nagle/Bloomberg via Getty Images)
NEW YORK HAS THE LARGEST TAXES IN THE COUNTRY: STUDY
The bottom 10, meanwhile, was dominated by the country’s bluest states, with New York coming last:
MarylandHawaiiOregonMaineCaliforniaIllinoisNew JerseyMinnesotaVermontNew York
Utah Governor Spencer Cox speaks during an interview at the Utah State Capitol on March 4, 2022 in Salt Lake City. (AP photo/Rick Bowmer, file)
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“‘Rich States, Poor States’ provides more powerful evidence that the low-tax, light-regulated states are bleeding out the high-tax states,” said Moore, a senior fellow at the Heritage Foundation. Utah has been number one for 14 years because of its solid pro-business policies. If states like New York, California and Illinois don’t change their ways of taxing and regulating, they will continue to shrink into economic obscurity. lost more than 5 million people every year.”
Economic factors seem to play a role in where Americans go. Between July 2021 and July 2022, the top 10 countries with the highest tax lost nearly 1 in 100 residents in net internal migration, while the 10 lowest tax states gained nearly 1 in 100, according to a recent analysis by James Doti, president emeritus and professor of economics at Chapman University.
Last month, a study found that New York imposes the heaviest taxes on its residents of all of the country’s 50 states
The “Rich States, Poor States” report also ranked each state’s economic performance over a 10-year period from 2011 to 2021 based on three variables: “state gross domestic product, absolute internal migration, and nonfarm wage employment – all of which are heavily influenced by state policy.”
Florida Gov. Ron DeSantis speaks as he announces a proposal for Digital Bill of Rights, Wednesday, February 15, 2023, at Palm Beach Atlantic University in West Palm Beach, Fla. (AP Photo/Wilfredo Lee)
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Once again, Utah was at the top, overshadowed only by Florida. Mostly red states joined them in the top 10:
FloridaUtahArizonaIdahoColoradoWashingtonTexasGeorgiaSouth CarolinaNorth Carolina
Tax documents. (CyberGuy.com)
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The bottom 10 contain a mix of both red and blue states:
VermontNew MexicoWyomingIllinoisHawaiiPennsylvaniaWest VirginiaConnecticutAlaskaLouisiana
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One of the most notable drop-offs in the ranking was Washington, which ranked high for economic performance over the past decade but ranked 34th for economic outlook for this year. Last month, the state Supreme Court upheld a new capital gains tax recently passed by lawmakers.
Aaron Kliegman is a political reporter for Fox News Digital.
