{"product_id":"an-inquiry-into-the-nature-and-causes-of-the-wealth-of-states-9781118921227","title":"An Inquiry into the Nature and Causes of the","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eA passionate, detailed, quantified argument for state-level tax reform\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eAn Inquiry into the Nature and Causes of the Wealth of States\u003c\/i\u003e explains why eliminating or lowering tax burdens at the state level leads to economic growth and wealth creation. A passionate argument for tax reform, the book shows that even states with small populations can benefit enormously with the right policies. The authors' detailed exposition evaluates the impact state and local government policies have on a state's relative performance and economic growth overall, backed up with economic data and analysis.\u003c\/p\u003e \u003cp\u003eFacts don't lie. But they do point clearly to the failure of so-called progressive tax schemes designed more to curry favor with selected constituencies than to create an economic system that leads to individual wealth as the reward for hard work and entrepreneurial risk taking. \u003ci\u003eAn Inquiry into the Nature and Causes of the Wealth of States\u003c\/i\u003e is a detailed and critical look\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003ePrologue xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The Fall from Grace: The Story of States 11 and the Income Tax Adopted 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Implementation of an Income Tax—A Terrible Mistake 1\u003c\/p\u003e \u003cp\u003eThat Giant Sucking Sound Is People, Output, and Tax Revenue Fleeing Income Taxes 4\u003c\/p\u003e \u003cp\u003eEconomic Malaise 4\u003c\/p\u003e \u003cp\u003eMisleading Measures 5\u003c\/p\u003e \u003cp\u003eOhio 7\u003c\/p\u003e \u003cp\u003eThe Story of New Jersey—A Colorful Example of Opportunity Wasted 10\u003c\/p\u003e \u003cp\u003eLower Tax Revenue 10\u003c\/p\u003e \u003cp\u003eThe Rhetoric Surrounding Tax Revenue and the Decline in Public Services 11\u003c\/p\u003e \u003cp\u003eThe Case of the Disappearing Tax Revenue 12\u003c\/p\u003e \u003cp\u003eConnecticut 13\u003c\/p\u003e \u003cp\u003eNo Bang for the Buck—How Costly Tax Increases Fail to Result in Better Provision of Public Services 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Economic Metrics 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrimary Economic Metrics 24\u003c\/p\u003e \u003cp\u003eTax Revenue Performance of All States over the Past Decade 32\u003c\/p\u003e \u003cp\u003eThe ALEC-Laffer State Rankings 37\u003c\/p\u003e \u003cp\u003eInternal Revenue Service Tax Migration Data 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 The Nine Members of the Fellowship of the Ring to Balance Out the Nine Nazgûl 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn Analysis of the Top Personal Income Tax (PIT) Rates 56\u003c\/p\u003e \u003cp\u003ePublic Services and the Personal Income Tax 61\u003c\/p\u003e \u003cp\u003eThe Effects of Oil and Severance Taxes 63\u003c\/p\u003e \u003cp\u003eA Longer-Term View of the Data 67\u003c\/p\u003e \u003cp\u003eAn Analysis of Corporate Income Taxes 69\u003c\/p\u003e \u003cp\u003eAn Analysis of the Overall Tax Burden 73\u003c\/p\u003e \u003cp\u003eAn Analysis of the ALEC-Laffer State Economic Competitiveness Index 76\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Piling On 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn Analysis of the Property Tax Burden 82\u003c\/p\u003e \u003cp\u003eAn Analysis of the Sales Tax Burden 82\u003c\/p\u003e \u003cp\u003eEstate and Inheritance Taxes 88\u003c\/p\u003e \u003cp\u003eRight-to-Work Laws 90\u003c\/p\u003e \u003cp\u003eLabor Force Unionization 93\u003c\/p\u003e \u003cp\u003eState Minimum Wages 96\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Give unto Caesar 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNew Hampshire—Case in Point 104\u003c\/p\u003e \u003cp\u003eTop Traders 121\u003c\/p\u003e \u003cp\u003eReal-Time Mobility Index 127\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Why Growth Rates Differ: An Econometric Analysis of the Data 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eList of Variables 137\u003c\/p\u003e \u003cp\u003eGross State Product Growth: Single-Variable Analysis 141\u003c\/p\u003e \u003cp\u003eGross State Product Growth: Two-Variable Analysis 146\u003c\/p\u003e \u003cp\u003eGross State Product Growth: Three-Variable Analysis 149\u003c\/p\u003e \u003cp\u003ePopulation Growth: Single-Variable Analysis 150\u003c\/p\u003e \u003cp\u003ePopulation Growth: Two-Variable Analysis 153\u003c\/p\u003e \u003cp\u003ePopulation Growth: Three-Variable Analysis 156\u003c\/p\u003e \u003cp\u003ePopulation Growth: Four-Variable Analysis 157\u003c\/p\u003e \u003cp\u003eConclusions 158\u003c\/p\u003e \u003cp\u003eAnnotated Econometric Bibliography 159\u003c\/p\u003e \u003cp\u003eKey Quotes from Econometric Bibliography 186\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Fiscal Parasitic Leakages: Texas versus California 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Tale of Two States—A 55-Point Summary 194\u003c\/p\u003e \u003cp\u003eThe November 2012 Elections in California and Texas 199\u003c\/p\u003e \u003cp\u003eEconomic Performance: California, Texas, and the United States 201\u003c\/p\u003e \u003cp\u003eA Brief Note on Poverty Metrics 207\u003c\/p\u003e \u003cp\u003eThe Texas Oil Boom and California’s Oil Bust: A Clash of Economic Cultures 208\u003c\/p\u003e \u003cp\u003eAn Overview of Total State and Local Government Revenues—Texas and California 212\u003c\/p\u003e \u003cp\u003eTexas, California, and the United States: A Comparison of Tax Revenue and Debt Financing 213\u003c\/p\u003e \u003cp\u003ePolicy Variables Affecting Growth 218\u003c\/p\u003e \u003cp\u003eThe Relationship among Taxation, Spending, and the Achievement of Policy Objectives—A Story of Parasitic Leakages 224\u003c\/p\u003e \u003cp\u003eIntergovernmental Revenues, Federally Mandated Social Services, and State Welfare, Medicaid, and Food Stamp Programs 225\u003c\/p\u003e \u003cp\u003eThe Provision of Public Services by State and Local Governments 229\u003c\/p\u003e \u003cp\u003eThe Performance of State and Local Public Education 235\u003c\/p\u003e \u003cp\u003eHighways: California versus Texas 239\u003c\/p\u003e \u003cp\u003ePrisons: California and Texas 241\u003c\/p\u003e \u003cp\u003eConclusion 242\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Au Contraire, Mon Frère: Criticisms of Our Work— Our Responses 245\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConflicts of Interest and Policies 245\u003c\/p\u003e \u003cp\u003eTaxes and Other Supply-Side Policy Variables Don’t Affect Population and Gross State Product Growth 247\u003c\/p\u003e \u003cp\u003eGrowth Is a Move from North to South, from Clouds to Sunshine, from Cold to Warm 251\u003c\/p\u003e \u003cp\u003eGrowth Is Predominantly a Matter of Education and Not Taxes and Other Economic Policy Measures 252\u003c\/p\u003e \u003cp\u003ePersonal Income per Capita and Median Income Growth as Measures of Success Show Taxes Don’t Matter 253\u003c\/p\u003e \u003cp\u003eTax Rate Cuts Are Public Service Cuts 257\u003c\/p\u003e \u003cp\u003eOther Factors Affect Population Growth (Oil, Sunshine, Accessible Suburbs, Etc.), and Therefore Taxes, Right-to-Work Laws, and Other Supply-Side Variables Don’t 259\u003c\/p\u003e \u003cp\u003eCorrelations between Tax Rates and Growth Reflect a Simultaneous Equation Bias (Reverse Causation); That Is, Growth Causes Tax Cuts, Not the Reverse 261\u003c\/p\u003e \u003cp\u003eThere Are High-Tax States That Outperform Low-Tax States; Therefore the Supply-Side Theory Is Wrong 264\u003c\/p\u003e \u003cp\u003eThe Oklahoma Argument against Tax Cuts 267\u003c\/p\u003e \u003cp\u003eIncome Distribution Becomes More Even with Progressive High-Rate Tax Codes 270\u003c\/p\u003e \u003cp\u003eThe Probity of the ALEC-Laffer Measures Is Nonexistent; Therefore Their Policy Prescriptions Are Wrong 273\u003c\/p\u003e \u003cp\u003eFederal Tax Rates Are More Important Than State Tax Rates, and Therefore State Tax Rates Don’t Matter 275\u003c\/p\u003e \u003cp\u003eThe Wealthy Used Public Resources, and They—Not Others—Should Pay for Those Public Resources; We Need More Progressive Taxes, Not Less 276\u003c\/p\u003e \u003cp\u003eWhen Is Enough Evidence Enough? If the Facts Were Reversed, We Would Concede 277\u003c\/p\u003e \u003cp\u003eNotes 281\u003c\/p\u003e \u003cp\u003eBibliography 295\u003c\/p\u003e \u003cp\u003eAcknowledgments 317\u003c\/p\u003e \u003cp\u003eAbout the Authors 319\u003c\/p\u003e \u003cp\u003eIndex 321\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49406947230039,"sku":"9781118921227","price":20.4,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781118921227.jpg?v=1730497653","url":"https:\/\/bookcurl.com\/products\/an-inquiry-into-the-nature-and-causes-of-the-wealth-of-states-9781118921227","provider":"Book Curl","version":"1.0","type":"link"}