Income taxes act as a significant drag on personal income growth. Real personal income growth was more than twice as high in low- or no-income tax states, compared with the states with the biggest increase in tax burden. Income taxes also have a clear effect on population growth, which helps fuels tax revenue.
Toward a More Well-Informed Citizenry
The 86th Texas Legislature sought to enhance public debt transparency through the creation of Voter Information Documents (VID). However, this instrument is not accurately providing debt amounts and needs reform. Key points: Governments are manipulating the VID methodology to deny voters accurate tax impact estimates. Many VIDs are dissimilar, making comparative analysis challenging. There is...