California, Oregon, and Washington State which make up over 25% of the population have very vibrant economies, low unemployment, and high wages. This despite higher taxes and more government regulation than most other states. Does this not run counter to the theory that high wages, government regulations, and high taxes are bad for business, and will drive jobs away? How can this be?
Sorry if this is a re post, but the West Coast seems to be a very large exception to conventional conservative economic theory.
One of the reasons why a high marginal tax rate is conductive to economic growth is that the marginal utility quickly approaches zero for high incomes. So even if the government or redistribution program you are using that marginal dollar for is not that effective or efficient, society still becomes more productive because it was being entirely wasted before. This is why a high marginal tax rate for the highest earners is a necessary but not sufficient condition for a high standard of living.
Really it seems to me that you are painting an unrealistic picture of the West coast. I recently visited north east Washington and it was looking very poor.
Oregon isn't known for its great economy. You cant pump your own gas because oregon needed to save jobs. They needed jobs so badly they passed a law protecting full sevice attendants.
Although California has a large economy, there are other states with better per capita economies. As I pointed out earlier, the West coast has natural advantages over other states. When oil is booming North Dakota has the best economy in the US perhaps second to DC
Originally posted by Eladar Really it seems to me that you are painting an unrealistic picture of the West coast. I recently visited north east Washington and it was looking very poor.
Oregon isn't known for its great economy. You cant pump your own gas because oregon needed to save jobs. They needed jobs so badly they passed a law protecting full sevice attendants.
Although Cali ...[text shortened]... her states. When oil is booming North Dakota has the best economy in the US perhaps second to DC
I recently visited north east Washington and it was looking very poor. - So, you visited NE Washington, a very tiny part of one of those states, and think that's the whole story? Your tunnel vision is showing.
Oregon isn't known for its great economy? Maybe you'd better look at all those help wanted signs from Portland down to Medford.
California has a large economy, there are other states with better per capita economies. - OK, Name a few.
Originally posted by mchill I recently visited north east Washington and it was looking very poor. - So, you visited NE Washington, a very tiny part of one of those states, and think that's the whole story? Your tunnel vision is showing.
Oregon isn't known for its great economy? Maybe you'd better look at all those help wanted signs from Portland down to Medford.
You are really funny. First you claim that I am talking about one small part of the state then you define all of Oregon as that part along I-5
Originally posted by KazetNagorra When scrolling through that list, did you notice how oil-rich and deep blue states tend to be near the top, and deep red states near the bottom?
Originally posted by KazetNagorra Those "big businesses" will leave those states any day now and move to low-regulation, low-tax states. Just you wait... any day now...
I dont think so. They have enough money to survive the hit. The big taxes are rhere to suck out any extra money in the average working person's bank account. Keeps the little person in his place, paying rent tothe rich guys.
Originally posted by Eladar I think we can all agree that Oregon does not have a vibrant economy and does not fit the description in the original post.
So much for the West Coast Paradox.
What do you mean, So much for the West Coast Paradox??
If higher taxes, more government and higher wages are so bad for business, why are jobs not fleeing the west coast?? Why is it so easy to get a good paying job on the west coast, while other parts of the country struggle? Why is the standard of living higher on the west coast?
It seems there are lots of holes in your little theory.
The West Coast paradox
20 Nov '16 14:17
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