Texas vs. California, New York
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The answer is simple. Texas has marshaled its vast natural and human resources to grow its economy, while California has wasted its resources.
Along the same lines, Texas has bested New York as well, both on the field and in the marketplace. Jobs leave New York and come to Texas. The Yankees’ huge payroll couldn’t overcome the Rangers’ pitching, and neither could an over-regulated Wall Street outperform Texas entrepreneurs.
Texas relies on the proven formula of low spending, low taxes, and low regulation. Our research has shown time and time again that states that do well in these measures outperform states that don’t.
Despite Texans’ propensity for bragging, our position as the country’s top job-creator for the last decade is not because we are inherently better than other states. It’s because we believe that the free market unleashes the skills and creativity of people in a way that creates jobs and economic growth.
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Texans don’t want a government that keeps taking and spending more of their money. That is why government spending in Texas in 2008 was actually a smaller percentage of the economy than it had been back in 1987. On the other hand, government spending in California grew 34 percent faster than its economy. This kind of spending can’t help but put an economy in the ditch after a while.
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I have posted often on the comparison, and it looks like California and New York are going to keep on doing the things that made them poorer which will make the comparison more stark in the future.
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