The American Legislative Exchange Council once again ran the numbers to find which states have the best and worst economic outlooks. Utah came in first, followed by Wyoming, Idaho, Indiana, and North Carolina. There were several factors at play.
“The empirical evidence and analysis in this edition of Rich States, Poor States illustrate which policies encourage greater economic opportunity and which are obstacles to growth,” the report’s author Jonathan Williams writes. “The evidence is clear that competitive tax rates, thoughtful regulations, and responsible spending lead to more opportunities for all Americans. State economies grow and flourish when lawmakers trust people, not government, to create long-term prosperity.”
And once again, if you didn’t guess by now, for the sixth year in a row, the Empire State came in dead last.
“New York is currently ranked 50th in the United States for its economic outlook,” RichStates PoorStates reports. “This is a forward-looking forecast based on the state’s standing (equal-weighted average) in 15 important state policy variables. Data reflect state and local rates and revenues and any effect of federal deductibility.”
Those variables include Top Marginal Corporate Income Tax Rate, in which NY placed last, and Top Marginal Personal Income Tax Rate, in which the state did slightly better, 49th.
They hate New York…
New York dead last in ‘economic outlook,’ citizens fleeing, finds @ALEC_states https://t.co/9yax9SanVw
— Paul Bedard (@SecretsBedard) August 12, 2020
Erie County Comptroller Steven Mychajliw wasn’t surprised. And I imagine the thousands of former New Yorkers who left the state last year aren’t either.
Are you surprised? NYS ranked 50th. Dead last. Worst in America. In the category of: Economic Outlook. High taxes. Big bureaucratic spending. Burdensome regulations. Job killing environment. State government controlled by NYC politicians. https://t.co/ydUUP4Vds4
— Stefan Mychajliw (@StefanMychajliw) August 13, 2020
Cuomo recently pleaded with ex-New Yorkers, many of whom have fled to Florida or the Carolinas, to come back to the state, trying to entice them with a homecooked meal.
It may help if the governor actually acknowledges the reason why people are leaving the state (again, job losses and high taxes). But if you ask him, he’ll usually blame it on the weather.
Some social media users managed to find a sunny side to the rankings.
“At least NY is the best at being the worst?” one optimistic observer wrote on Twitter.