Do You Live in a Rich or Poor State?
The American Legislative Exchange Council (ALEC) recently released the third edition of “Rich States, Poor States,” which outlines the fiscal policies of all 50 states. This edition is particularly enlightening because it shows how states with rampant spending and high taxes have spiraled out of control during the current economic downturn. Conversely, states that have reigned in spending while also promoting pro-growth tax policies have done quite well. According to ALEC the five most-prosperous states are Utah, Colorado, Arizona, South Dakota, and Florida. California, Illinois, New Jersey, Vermont and New York are at the bottom. To see where your state is or to take a closer look at the overall research, go to www.alec.org and click on the “Rich States, Poor States” tab on the left side of the page.