I knew it. Sooner or later Abe Lincoln's message of "can't fool all the people all the time", was going to come shining through. Here comes the tax reform folks, at the STATE level.
Sure, we all know Barack and his "merry bandits" are doing all they can to grow government and inflate tax structures, while marching the citizens of this great country into Socialism. We also realize that on a Federal Tax level there isn't much we can do about it. We're forced to stand by and watch Barack smile into the teleprompter and lie to us. He said taxes would only be raised on those making $400,000 or more, but we know that was a bold-faced lie. Over 77% of Americans have noticed tax increases in their paychecks since 2013 started.
But wait...hold on a minute. Here come some of our great sovereign states pushing back against Barack's Socialism quest to grow government. We now have eight, yes eight states that have no state income taxes to offset the rising federal taxation. Florida, Texas, South Dakota, Tennessee, Wyoming, Nevada, Alaska, and Washington have no state income taxes, and most have no corporate tax.
There is a strong possibility that North Carolina, Kansas, Oklahoma, and Louisiana may soon join the ranks of no state income taxes, and no corporate taxes. We are seeing the growth of former President Reagan's successful "trickle down economics" , that was once at the federal level, now being initiated at the state level. The even greater news is that many of these states, including the great state of Ohio where I live, do not impose corporate taxes.
Let's see what this does, as in the states of California, which has the highest state income tax of 13.3% versus Texas which has no state income tax or corporate tax. There is no doubt, and everyone knows the state of California is flat broke. Businesses are relocating to other states, and the only way California can raise revenue is to raise taxes. On this path of no jobs while raising taxes, will almost definitely turn this great state into a crisis from which it may never recover.
What happens when businesses relocate to states that have no corporate taxes? Well, of course they have more capital to invest, so they invest in growth which creates more jobs. We all know what follows don't we? People are also encouraged that these states, along with available jobs, have no state income tax, and eventually migrate to these states.
This creates a win-win for job creation, which results in Americans with better cash flow, which creates more spending, which creates more revenue for the state to continue growing. And while these states are successfully growing we continue to have Barack and his "merry bandits" back in D.C., raising federal taxes to take care of his welfare nanny state. Go ahead Barack, keep it up; you're creating a bubble that's going to definitely explode to the point there will be no money to take of your welfare followers. What then Barack?
You can push around the good people of this great nation only so much Barack. Go ahead, you, Reid, Pelosi, and your minions raise all the taxes you want. Here comes the sovereign states, who are going to survive and flourish in spite of you.
By the way has anyone noticed these states that have legislated no state income tax, and no corporate tax are all significantly above the national unemployment average. Has anyone else also noticed these are all "red" Republican states.
Yes, I feel good that in spite of Barack, and through the great sovereignty of our states America will bounce back and flourish once more. President Reagan must be proud of us.
And that's Politics with Pete for today....God Bless our country...and our troops