Friday, February 29, 2008

State Economic Competitiveness Index

Newt Gingrich noted recently a recent report from the American Legislative Exchange Council called Rich States, Poor States. It's based on the ALEC-Laffer State Economic Competitiveness Index and is compiled by by Arthur B. Laffer and Stephen Moore. It notes how these factors affect out-migration:
Highest marginal personal income tax rate
• Highest marginal corporate income tax rate
• Progressivity of the personal income tax system
• Property tax burden
• Sales tax burden
• Tax burden from all remaining taxes
• Estate tax/Inheritance tax (Yes or No)
• Recent Tax Policy Changes 2005-06
• Debt service as share of tax revenue
• Public employees per 10,000 residents
• Quality of state legal system
• State minimum wage
• Workers’ Compensation costs
• Right-to-work state (Yes or No)
• Tax/Expenditure Limit
• Education Freedom Index

New York does not fare well. Here's a story about the California experience.

Access info on the individual states here.

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