Friday, April 24, 2009

Kentucky ranked among bottom 15 states in economic competitiveness

Kentucky ranked among the bottom fifteen states in terms of economic competitiveness according to a new study sponsored by the American Legislative Exchange Commission (ALEC). The study, authored by Arthur B. Laffer, Stephen Moore, and Jonathan Williams, used 15 policy variables that have a "proven impact on the migration of capital."

The 15 policy variables are as follows:
  • Highest Marginal Personal Income Tax Rate
  • Highest Marginal Corporate Income Tax Rate
  • Personal Income Tax Progressivity
  • Property Tax Burden
  • Sales Tax Burden
  • Tax Burden From All Remaining Taxes
  • Estate Tax/Inheritance Tax (Yes or No)
  • Recent Tax Policy Changes 2007-08
  • Debt Service as a Share of Tax Revenue
  • Public Employees Per 1,000 Residents
  • Quality of State Legal System
  • State Minimum Wage
  • Workers’ Compensation Costs
  • Right-to-Work State (Yes or No)
  • Tax or Expenditure Limit
These factors, say the study, are all factors that are under the control of state lawmakers.
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