Cal Fares Poorly in Economic Ranking
California fares poorly in an evaluation of each state’s economic competitiveness by the conservative, Washington-based American Legislative Exchange Council.
The state is 43rd in the rankings and is singled out for special scorn in the report, including one chapter that compares California directly with Texas.
“The decline of California is probably the best evidence that we can present as to the impact of poor state policy making on the economic pulse of a state,” the report says. “California continues to increase regulations, raise taxes and spend profligately. Texas, on the other hand, has a pro-growth economic environment with a competitive tax system, sound regulations and spending discipline that will help Texas maintain its superior performance well into the future.”
Conservative economist Arthur Laffer is a co-author of the study and one chapter recounts his version of how Proposition 13, the landmark 1978 property tax limit measure, was passed and implemented and how California fared thereafter. The full report is available here.
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