By Glenn Hamer | Chamber Business News
A few final thoughts on Proposition 208 with Election Day just a few days away:
The wrong top 10
If Proposition 208 passes, the state will join a top-10 list on which no state wants to appear.
We’ll end up on the list of states with the highest income tax rates nationwide. Our contemporaries will include the likes of California, New York and New Jersey.
As numerous economists and commentators have pointed out, high-tax states tend to underperform economically, sometimes dramatically so.
A recent analysis of Proposition 208 by economists Dr. Art Laffer, Stephen Moore and Erwin Antoni compared the economic health of seven states with no income tax against the nine states with the highest income tax rates.
