Wednesday, January 30, 2013

WSJ: "The State Tax Reformers: More Governors look to repeal their income taxes"

Bullish on red states:
"Nine states—including such fast-growing places as Florida, Tennessee and Texas—currently have no income tax, and the race is on to see which will be the tenth, and perhaps the 11th and 12th. [...]

it will further sharpen the contrast in economic policies between GOP reform Governors and the union-dominated high-tax models of California, Illinois, New York, Massachusetts and now Minnesota..."
We need to get rid of the deduction for state income tax payments. That's a red state subsidy of the failing blue states. Without it, the exodus of productive people to low tax states would deepen the downward spiral of the failing blue states.