Tex-mix : The State's best and Worst Sides  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 392 no. 8639 (Jul. 2009), page 5-6.
Topik: Texas; Mr laffer; Tex-Mix; Tax;
Fulltext: Tex-mix.pdf (97.62KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.56 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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The state’s best and worst sides THOUGH the Texas model has many critics, its admirers tend to list the same advantages. The low tax burden (secondlowes, in America) invariably comes top of the list. Arthur Laffer, inventor of the famous curve, reckons that one of the most important determinants of whether a state does well or badly is not just the overall level of taxes but their structure too. A high, progressive personal income tax, he says, is about the worst incentivekiller you could devise. Americans are highly mobile, so the most able will simply leave for another state. Mr Laffer himself left California for lowtax Tennessee three years ago because he felt that bad taxes were destroying the state’s economy. Progressive taxes are considered fairer, but better to leave it to the federal authorities to impose a progressive income tax, the same for every state. The nine states with a personalincometax rate of zero, Mr Laffer finds, had net domestic immigration of 4.5% of their population in the ten years to 2007; the nine with the highest marginal tax rates saw outflows averaging 2.2%. A high state tax on capital gains is also bad because it tends to be volatile, causing big budgetary problems. Texas does not have one of those either.

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