Critics often claim Texas’ prosperity is based on abundant oil and natural gas production. Others suggest it’s a “miracle.” Evidence, however, proves the Texas model, based on conservative fiscal policies, that ranks second best in economic freedom according to the Fraser Institute supports sustained human flourishing. With less than 10 percent of the U.S. population, Texans have created 26 percent...
Texas ranks the 2nd most economically free state, tied with Florida, in the U.S. according to the Fraser Institute. This ranking is based on levels of taxes, government spending, and labor market freedom. Figure 1 shows states that rank in each quartile of economic freedom. Figure 1: Economic Freedom Ranking by State Research finds...
The good news keeps coming. Since the passage of the Tax Cuts and Jobs Act, announcements about increased investment in the U.S. and various companies offering employees bonuses haven’t stopped. The vast majority of Americans will prosper from the Tax Cuts and Jobs Act. As an economist and policy analyst, we’ve been skeptical of...
Students across Texas enjoyed a rare snow day – or even two – last week, as ice and snow kept campuses closed from Houston to Tyler to Austin. For most, it was a welcome break, though they knew there would be work to make up when they return. One critical topic they’ll need to...
Texas’ public education spending, in inflation-adjusted dollars, has increased in recent years with little-to-no improvement in the quality of education received. A problem with the philosophy of throwing more money at the education problem expecting a different result is that it doesn’t work. As you can see in Figure 1, per-student education expenditures have been...
Just as Americans mutually benefit from voluntary exchange domestically, so can individuals in different countries within the rule of law. A perfect trade agreement would be one sentence that provides no more than a contractual obligation: “There shall be no trade barriers among countries X, Y, and Z.” The Texas Public Policy Foundation (TPPF) recently...
Lower taxes and more freedom is a winning combination in Texas, and it will work for the rest of the country, too. Congress is finally taking note of the burgeoning prosperity in economically free states like Texas, which has far outpaced economic gains seen in less-free states, such as California. And D.C. is belatedly...
Texas’ economic policies keep it near the top in economic freedom, but government barriers hinder more human flourishing. The Fraser Institute gleans these insights in its recently released annual Economic Freedom of North America report. Based on variables related to government spending, taxes and labor market freedom, Texas and Florida tied for second place, behind only New...
As 2018 begins, there’s chatter about what Congress will do after passing the Tax Cuts and Jobs Act. The Trump administration signaled a new bipartisan approach on infrastructure, a sentiment shared by Senate leadership. The House, however, seems poised to reform welfare through budget reconciliation. Static analyses of the recently passed tax bill fail to capture...
In today’s politically polarized environment, compromise is a rare commodity, especially in the energy debate. While progressives push for the use of zero-carbon energy, conservatives counter by advocating for a reliable electricity grid. Yet, nuclear energy could bridge the divide. Innovative technologies like molten salt reactors safely create power that is both carbon free...
Some folks never miss an opportunity to discount Texas’ prosperity by ascribing the Lone Star State’s good fortune to its oil and gas deposits. A recent example from The New York Times, “Why Texas No Longer Feels Miraculous,” argues that the oil and gas sector boom led to the “Texas Miracle” even as conservative...
You may often wonder how Texas’ business tax climate ranks with other states. Well, the Tax Foundation has an answer in their recently released 2018 State Business Tax Climate Index report rankings all fifty states based on the burdens of each state’s corporate income tax, individual income tax, sales tax, unemployment insurance, and property tax....