An Inquiry into the Nature and Causes of the Wealth of States How Taxes Energy and Worker Freedom Change Everything 1st Edition by B Laffer, Stephen Moore, Rex A Sinquefield, Travis H Brown ISBN 1118921224 9781118921227

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ISBN 10: 1118921224 
ISBN 13: 9781118921227
Author: B Laffer, Stephen Moore, Rex A Sinquefield, Travis H Brown

An Inquiry into the Nature and Causes of the Wealth of States explains why eliminating or lowering tax burdens at the state level leads to economic growth and wealth creation. A passionate argument for tax reform, the book shows that even states with small populations can benefit enormously with the right policies. The authors’ detailed exposition evaluates the impact state and local government policies have on a state’s relative performance and economic growth overall, backed up with economic data and analysis.

Facts don’t lie. But they do point clearly to the failure of so-called progressive tax schemes designed more to curry favor with selected constituencies than to create an economic system that leads to individual wealth as the reward for hard work and entrepreneurial risk taking. An Inquiry into the Nature and Causes of the Wealth of States is a detailed and critical look at income taxation across the nation, and drills down into an analysis of the economic growth or malaise that results from tax policy. Arguing eloquently that a state cannot tax itself into prosperity, just as the impoverished cannot spend themselves into wealth, the authors point out what many inherently know but often fear to say out loud. The book provides detailed quantitative analysis, and discusses the policy variables that can have enormous effects on the financial well-being of states and individual residents, such as.

An Inquiry into the Nature and Causes of the Wealth of States How Taxes Energy and Worker Freedom Change Everything 1st Table of contents:

CHAPTER 1: The Fall from Grace
The Implementation of an Income Tax—A Terrible Mistake
That Giant Sucking Sound Is People, Output, and Tax Revenue Fleeing Income Taxes
Economic Malaise
Misleading Measures
Ohio
The Story of New Jersey—A Colorful Example of Opportunity Wasted
Lower Tax Revenue
The Rhetoric Surrounding Tax Revenue and the Decline in Public Services
The Case of the Disappearing Tax Revenue
Connecticut
No Bang for the Buck—How Costly Tax Increases Fail to Result in Better Provision of Public Services
Notes

CHAPTER 2: Economic Metrics
Primary Economic Metrics
Tax Revenue Performance of All States over the Past Decade
The ALEC-Laffer State Rankings
Internal Revenue Service Tax Migration Data
Notes

CHAPTER 3: The Nine Members of the Fellowship of the Ring to Balance Out the Nine Nazgûl1
An Analysis of the Top Personal Income Tax (PIT) Rates
Public Services and the Personal Income Tax
The Effects of Oil and Severance Taxes
A Longer-Term View of the Data
An Analysis of Corporate Income Taxes
An Analysis of the Overall Tax Burden
An Analysis of the ALEC-Laffer State Economic Competitiveness Index
Notes

CHAPTER 4: Piling On
An Analysis of the Property Tax Burden
An Analysis of the Sales Tax Burden
Estate and Inheritance Taxes
Right-to-Work Laws
Labor Force Unionization
State Minimum Wages
Notes

CHAPTER 5: Give unto Caesar
Notes

CHAPTER 6: Why Growth Rates Differ
List of Variables
Gross State Product Growth: Single-Variable Analysis
Gross State Product Growth: Two-Variable Analysis
Gross State Product Growth: Three-Variable Analysis
Population Growth: Single-Variable Analysis
Population Growth: Two-Variable Analysis
Population Growth: Three-Variable Analysis
Population Growth: Four-Variable Analysis
Conclusions
Annotated Econometric Bibliography
Key Quotes from Econometric Bibliography
Notes

CHAPTER 7: Fiscal Parasitic Leakages
A Tale of Two States—A 55-Point Summary
The November 2012 Elections in California and Texas
Economic Performance: California, Texas, and the United States
A Brief Note on Poverty Metrics
The Texas Oil Boom and California’s Oil Bust: A Clash of Economic Cultures
An Overview of Total State and Local Government Revenues—Texas and California
Texas, California, and the United States: A Comparison of Tax Revenue and Debt Financing
Policy Variables Affecting Growth
The Relationship among Taxation, Spending, and the Achievement of Policy Objectives—A Story of Parasitic Leakages
Intergovernmental Revenues, Federally Mandated Social Services, and State Welfare, Medicaid, and Food Stamp Programs
The Provision of Public Services by State and Local Governments
The Performance of State and Local Public Education
Highways: California versus Texas
Prisons: California and Texas
Conclusion
Notes

CHAPTER 8: Au Contraire, Mon Frère
Conflicts of Interest and Policies
Taxes and Other Supply-Side Policy Variables Don’t Affect Population and Gross State Product Growth
Growth Is a Move from North to South, from Clouds to Sunshine, from Cold to Warm
Growth Is Predominantly a Matter of Education and Not Taxes and Other Economic Policy Measures
Personal Income per Capita and Median Income Growth as Measures of Success Show Taxes Don’t Matter
Tax Rate Cuts Are Public Service Cuts
Other Factors Affect Population Growth (Oil, Sunshine, Accessible Suburbs, Etc.), and Therefore Taxes, Right-to-Work Laws, and Other Supply-Side Variables Don’t
Correlations between Tax Rates and Growth Reflect a Simultaneous Equation Bias (Reverse Causation); That Is, Growth Causes Tax Cuts, Not the Reverse
There Are High-Tax States That Outperform Low-Tax States; Therefore the Supply-Side Theory Is Wrong
The Oklahoma Argument against Tax Cuts
Income Distribution Becomes More Even with Progressive High-Rate Tax Codes
The Probity of the ALEC-Laffer Measures Is Nonexistent; Therefore Their Policy Prescriptions Are Wrong
Federal Tax Rates Are More Important Than State Tax Rates, and Therefore State Tax Rates Don’t Matter
The Wealthy Used Public Resources, and They—Not Others—Should Pay for Those Public Resources; We Need More Progressive Taxes, Not Less
When Is Enough Evidence Enough? If the Facts Were Reversed, We Would Concede

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Tags: B Laffer, Stephen Moore, Rex A Sinquefield, Travis H Brown, Nature