Barone: What Texas can teach us
May 27, 2011 - 7:15 am
Public policy matters.
In those 10 years, Texas gained 732,800 private sector jobs, far ahead of the number two and three states, Arizona (90,200) and Nevada (90,000). The nation overall lost more than 2 million private sector jobs, with the biggest losses coming in California (623,700), Michigan (619,200) and Ohio (460,900). …
The lesson of the previous decade seems clear: if you take a previously prosperous and creative state and subject it to high taxes and intrusive regulations, it loses 5% of its private sector jobs; if you take a previously somewhat less prosperous and creative state and govern it with low taxes and light regulation, it gains 9% more jobs, even as the nation’s economy is suffering.
No place is perfect, but the Lone Star State does pretty well.