State gains top scores economically
Published 7:37 pm Wednesday, January 30, 2008
In the American Legislative Exchange Council’s (ALEC) first economic ranking of all 50 states, Alabama, with its low income, business and property taxes, no estate tax and “right-to-work” status was ranked as the 18th best state in the country in terms of its economic outlook. The report, RICH STATES, POOR STATES: ALEC-Laffer State Economic Competitiveness Index, was a collaborative effort from authors Dr. Arthur Laffer, nationally recognized economist, and Stephen Moore of the “Wall Street Journal.”
According to the authors, Alabama could have earned higher marks, but for its high workers’ compensation costs and poor tort litigation system.
The authors identify 16 policy variables with a proven impact on the migration of human and investment capital in and out if states. According to their findings, a record eight million Americans moved from one state to another last year, revealing which states have the most dynamic and desirable economies, and which are "has-been" states. The winners in this contest are generally the states with the lowest tax, spending and regulatory burdens. The biggest losers are California, the Northeast, and the Midwest.
The complete book is available online at www.alec.org each state can be downloaded individually. Also available is a link to the C-SPAN video presentation by the authors.
The American Legislative Exchange Council (ALEC) is the nation's largest nonpartisan, individual membership organization of state legislators, with over 2,400 legislator members from all fifty states, and 86 former members serving in the U.S. Congress.
This article was submitted to the Advance by The American Legislative Exchange Council.