Facts are Facts: Low taxes, low spending and less regulation = Economic Growth

First Published: 2011-05-07

The Texas Public Policy Foundation has released two short studies, one in 2008 and the other in 2010, detailing how the Texas economy has performed over other states, particularly California before and after the "Great Recession".

They also point out that:

"According to the Bureau of Labor Statistics, seasonally adjusted, total non-farm employment growth in the state of Texas between January 2006 and January 2011 equated to 545,900. Texas has far surpassed job growth in all other states, both on an individual and in aggregate."

Hopefully you can take the time to read the two short booklets that explain how this was possible.

Competitive States: Texas v. California; Economic Growth Prospects for the 21st Century 2008 (pdf) http://www.texaspolicy.com/pdf/2008-09-CompetitiveStates-laffer.pdf

Competitive States: Texas v. California; Economic Growth Prospects for the 21st Century 2010 (pdf) http://www.texaspolicy.com/pdf/2010-10-CompetitiveStatesTXvsCA.pdf

Facts are Facts. Relatively low taxes, low government spending and less regulation are better public policies, that lead to higher economic growth in good times and lower declines in bad times. And it can be done without an income tax or VAT.

John Adams reportedly once said;

"Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence."

Sure there is lots of sweat equity that goes into public policy making here at home as well, but we’ve obviously been on the wrong track for a couple or more decades now.

There is no silver bullet to pull us out in the short term, but it’s high time we pursued alternative public policies that work.

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