Texas has 46th lowest state-local tax burden
Texas’ relatively low tax burden has helped create an economic environment that brings people worldwide and from other states here for the opportunity to prosper.
Texas’ relatively low tax burden has helped create an economic environment that brings people worldwide and from other states here for the opportunity to prosper.
The solution for a more prosperous nation is to facilitate the ingenuity of entrepreneurs.
Increases in the average appraisal value and tax rate in Midland will hurt those with low and fixed income the most, particularly the working poor and elderly, as property taxes rise from factors out of their control.
To advance the Texas model and improve its competitive advantage by having the best possible business tax climate, the Tax Foundation’s report provides evidence that the margin tax has to go.
Simply, property taxes are outstripping Texans’ ability to afford a home and put food on the table.
Though Texas faces headwinds, strengthening the Texas model by continued economic diversification, more international trade, and pro-growth policies will help the Lone Star State weather the storm.
The Texas model of low taxes, no personal income tax, and sensible regulation have been the catalyst keeping the state within the top three most free states since 2000.
As the late, great economist Milton Friedman popularized, “There's no such thing as a free lunch.” A minimum wage, or a higher minimum wage, is a perfect example. Let’s start thinking outside the box about ideas to advance wages instead of tinkering around with failed policies of the past.
It’s reassuring to know that there are other organizations out there, especially at a Texas University, promoting free markets and liberty, and that they are making a difference in advancing the hopes and dreams of Texans and all Americans.
The Lone Star State does not have to stand alone in reforms. The federal government and other states should learn from these successes and follow the lead of the Texas model.
The Texas Public Policy Foundation’s mission “is to promote and defend liberty, personal responsibility, and free enterprise in Texas and the nation by educating and affecting policymakers and the Texas public policy debate with academically sound research and outreach.” In support of this mission, I had the honor of being invited to give a keynote speech during the “State of the Economy” roundtable discussion during last week’s 52nd Annual Missouri Valley Economic Association (MVEA) meetings in Kansas City, Missouri.
This spending included bailing out banks and an almost trillion-dollar stimulus package contributing to a 70 percent increase in the national debt to $18.2 trillion.