California vs, Texas


I think this may be the graphic of the year. It is from the cover story in The Economist that points out the differences between the two states and why Texas is doing so much better.

...

... Indeed, high taxes, coupled with intrusive regulation of business and greenery taken to silly extremes, have gradually strangled what was once America’s most dynamic state economy. Chief Executive magazine, to take just one example, has ranked California the very worst state to do business in for each of the past four years.

By contrast, Texas was the best state in that poll. It has coped well with the recession, with an unemployment rate two points below the national average and one of the lowest rates of housing repossession. In part this is because Texan banks, hard hit in the last property bust, did not overexpand this time. But as our special report this week explains, Texas also clearly offers a different model, based on small government. It has no state capital-gains or income tax, and a business-friendly and immigrant-tolerant attitude. It is home to more Fortune 500 companies than any other state—64 compared with California’s 51 and New York’s 56....

...
The article is wrong about education in Texas which I think is clearly better than California and I don't think Texas is going to go back to the Democrats anytime soon. We are too smart for that. But the graphic is right on.

Update: James Bernsen at Texas Republic News has more on the growth in Texas.

Comments

  1. Rorschach7:57 PM

    You should see Iowahawk's take on the death of California.
    http://iowahawk.typepad.com/iowahawk/2009/07/fans-flock-to-mourn-california-18492009.html

    ReplyDelete

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