California's Jerry Brown( D) recently raised their income tax to 13.5% (the highest in the country by far) while Bobby Jindal (R) wants to eliminate his state's income tax in Louisiana and exchange it for a sales tax. Why is there significant growth in states without income tax compared to states with an income tax? Which is the better fix?
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So then why did California just hike their income tax 29%? Do they just want to sock it to the rich? Maybe they want to run Republicans out of the state because we know the Democrat "Rich" will stay 'cause THEY want to pay their fair share. :) ?
It's because they foolishly use static economic models, rather than Dynamic modeling which is commonly used in Gov't projections. That's why they are so far off constantly. Gov Brown never did see the cap gains tax from facebook he expected.