Tuesday, August 11, 2009, 11:27am EDT NY ranks 50th in economic outlook The Business Review (Albany)
New York ranks dead last in the country for its economic outlook, falling from the 49th spot last year, according to a new report by a national group representing state legislators.
New York also ranks 43rd for economic performance, according to the report from the American Legislative Exchange Council, which bills itself as the nation’s largest nonpartisan individual membership organization of state legislators.
The report bases New York’s low ranking in part on high taxes, low wages and the quality of the state’s legal system.
The report found that Utah, Colorado and Arizona have the best economies.
To see New York's complete results, click here. The complete report is available at http://www.alec.org. Its official title is Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index.
The top 3 states with the least government interference has the best economic outlook, lower taxes, business friendly, and people are moving there and moving out of California, NYS, Mass., and other nanny states. NYS is number 1, the worst state in the country.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Imagine. We were so low before that we were 49th...and now we're lower than the 1 state that was above us before. (Vermont, home of professed Communists, including one elected as Senator (Bernie Sanders)).
Case Study #6: The Empire State: Taxed to Death No state exemplifi es the impact of over taxation on work and investment more than New York. New York economist and professor Steve Kagann found that between 1975 and 2000 there was a clear inverse relationship between New York’s job creation and its tax burden, as shown in Figure 10. Here is how Kagann describes these results: “History demonstrates that the ability of the upstate [New York] economy to provide opportunity, prosperity, and stability for New Yorkers is directly and inversely related to the propensity of the state government to spend and tax. More government means fewer jobs and less growth….“The excess tax burden, the degree to which New Yorkers bear a state and local tax burden over and above what other Americans bear, is represented by the upper line. The lower line represents the state’s ability to grow jobs relative to other states. The result is crystal clear. When government becomes a growth industry, the private sector heads south—in New York’s case figuratively and literally.” After adjusting for wage and cost-of-living differences, the average New York City resident can expect to keep slightly more than 65 cents of every $1.00 earned—and this is before the impact of the federal income tax has been calculated. Because of this confiscatory rate, New York City has the worst income incentive rate in the country. The state also imposes the largest property tax burdens on its citizens as well as a highly progressive tax code that further discourages innovation and economic activity. Between 1995 and 1998, New York cut taxes under Gov. George Pataki.7 The result was a temporary revival and the best private economic performance in decades. New York raised more money in the eight years after George Pataki chopped tax rates than did Mario Cuomo in the eight years after he raised taxes. However, taxes rose again in the late 1990s and early 2000s, and the upstate region is again one of the most depressed areas in the nation.
When government becomes a growth industry, the private sector heads south—in New York’s case figuratively and literally.” After adjusting for wage and cost-of-living differences, the average New York City resident can expect to keep slightly more than 65 cents of every $1.00 earned—and this is before the impact of the federal income tax has been calculated
what do we think will happen to medicine with national healthcare......currently research comes from 'private' industry via DARPA and other funding......so where will the growth/cutting edge medicine come from? who gets to be in control and who is the 'police'....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Metroplex has been bringing jobs and new businesses to Schenectady for about 10 years[lol], this report confirms what most of us have thought, Metroplex is not doing their job.It's cost us millions of dollars in wasted taxpayer dollars that could have been better spent in other areas of the city/towns that desperately need improvements in their infrastructure. All we have to show for all the dollars invested by Metroplex is Proctors, failed businesses, and parking lots and the need to keep raising taxes to fund their follies.
Metroplex has been bringing jobs and new businesses to Schenectady for about 10 years[lol], this report confirms what most of us have thought, Metroplex is not doing their job.It's cost us millions of dollars in wasted taxpayer dollars that could have been better spent in other areas of the city/towns that desperately need improvements in their infrastructure. All we have to show for all the dollars invested by Metroplex is Proctors, failed businesses, and parking lots and the need to keep raising taxes to fund their follies.
Great review of failed Metrograft. It's all about handing out no show lob jobs to connected KRATS. They have created nothing, revitalized nothing and helped "stimulate" job losses. Disband Metrograft-have the money go directly to all town and City budgets to reduce record property taxes. When a County candidate comes to your door ask them their stand on Metrograft-if it's not disband it-slam the door.
When Death Ray has the nerve, the gall, the brass to lie that the Metrograft parking lots have handled 700,000 cars and nobody at the press corrects him-it's beyond pathetic. No wonder the Gazetto has lost over a third of it's readers.
The gazett lost a third of it's readers cause we are in the internet age...
I work in downtown schenectady, and there are TONS of new businesses.. and i even know people who are working class people who actually go out in schenectady! (would never think of that 8 years ago when i moved here) the renovation is working, doesn't mean the new tax dollar is being spent wisely..
I don't spell check! Sorry... If you include "No offense" in a statement, chances are, your statement is offensive.
I've lived here for 60 years and I remember the really good days when Schenectady was a bustling city full of a variety of stores. On Thursday night you couldn't walk down the sidewalks because there were so many people downtown shopping. GE moved most of it's work south or overseas, Alco closed, and all the department stores closed when the malls were built. Businesses now open for a year maybe 2 and then due to lack of business close or just move to another area. Vaedur you have no way to know how far this town has sunk unless you've lived here to see it. There are very few good paying jobs and once you drive out of the 2 block area of downtown the city starts falling apart, empty neighborhoods and vacant houses in many areas of the city, look around and you will see for yourself.
I've lived here for 60 years and I remember the really good days when Schenectady was a bustling city full of a variety of stores. On Thursday night you couldn't walk down the sidewalks because there were so many people downtown shopping. GE moved most of it's work south or overseas, Alco closed, and all the department stores closed when the malls were built. Businesses now open for a year maybe 2 and then due to lack of business close or just move to another area. Vaedur you have no way to know how far this town has sunk unless you've lived here to see it. There are very few good paying jobs and once you drive out of the 2 block area of downtown the city starts falling apart, empty neighborhoods and vacant houses in many areas of the city, look around and you will see for yourself.
Aye, i do agree with that.. I work right on erie, I guess I"m just commenting about the strip.. a few blocks, lol.. it's alot nicer now then when i moved here 8 years ago is all i'm trying to say.. I also live on chrisler ave now which is even more of a depressed drug and crime haven then when i first moved here.. now that i have a 6 month old daughter, it's time to get the heck out of the city!
I don't spell check! Sorry... If you include "No offense" in a statement, chances are, your statement is offensive.
It saddens me to see a city that I grew up in turning into a depressed area where there are not many good paying jobs, vacant neighborhoods, and taxes so high on property that nobody wants to buy and nobody can sell them.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Logged
We're Number ONE! In taxes, welfare, job losses, population losses and stunad KRATS.
