Red States Accelerate Push for No Income TaxGrover Norquist
Jul 29, 2023
America has long shown the world that competition between businesses drives growth, technological innovation and new investment. That is how we became the most prosperous nation in the world.
Now the 50 states are proving that competition between states to provide the best government at the lowest cost also makes America stronger and richer. States with lower taxes attract new investment, jobs, and families.
States with higher taxes lose jobs, businesses and people.
And this competition is heating up. This is increasingly obvious to all Americans.
U-Haul’s annual report on state growth found Texas and Florida – two of the seven no-income-tax states – had the largest net gain of one-way U-Haul trucks arriving in their borders in 2022. Americans are moving to lower-tax states.
Over that same period, U-Haul has consistently found California, Illinois, New Jersey, and New York – four states with high income tax rates and high tax burdens overall – to be in the bottom 10 growth states. In fact, California and Illinois are usually just fighting for 49th.
Right now, there are seven no-income-tax states: Texas, Florida, Tennessee, Nevada, South Dakota, Alaska and Wyoming. New Hampshire – which does not tax wage income – will be the eighth no-income-tax state on January 1, 2025, when it completes a phase-out of its income tax on interest and dividends.
State personal income tax rates were cut in at least 20 states over the past three years. Governors and state legislative leaders in many of these states have publicly stated that these tax cuts were the first step on the path to zero.
Which state will be the tenth to appear on no-income-tax list?
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Source:
https://townhall.com/columnists/grovernorquist/2023/07/29/red-states-accelerate-push-for-no-income-tax-n2626356
