Prosperous States Lead with Free-Market Policies
(Washington, D.C.) – According to a recent study, Utah, North Dakota, Indiana, North Carolina, and Arizona rank as the top five U.S. states in terms of policies that promote economic competitiveness. The findings are included in the eighth annual “Rich States, Poor States” report by The American Legislative Exchange Council. This year the lowest-ranked states are Minnesota, Vermont, and New York. “Rich States, Poor States” argues for free market policies that stimulate economic growth and enhance individual prosperity. Conversely, the “tax and spend” method – greatly abused in the bottom tier states – is one of the main trends the report identifies as “tried and consistently failed.” This eighth edition of the index also notes a correlation between highly-ranked states and increases in population; as Americans relocate to more prosperous states, they leave behind the states and policies that rank low on the competitiveness scale.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“It’s no coincidence that states which implement policies based on free markets, sensible regulation, and limited government are those that are thriving economically. As this report makes clear, taxing an activity is a deterrent to it. It’s only logical that when you heavily tax businesses or workers, it becomes a hostile environment for them to operate and contribute to the economy. And in a diverse nation such as the United States, there are other places to go where work and investment is rewarded.
The states at the bottom of the list know that their policies are failing, yet they continue to pursue policies of high taxation, tax cronyism, reckless budgeting, forced unionization, and heavier government interference. We have plenty to learn from our neighbors, and if we see them thriving, we should identify the policies that have helped them grow and emulate them. It’s time to set aside failed ideologies and partisan bickering. Elected officials must adopt policies that work.”