Conservative Texas GDP Soars 3.9% and Liberal California Flatlines 0.1%! Any Questions?
Texas and California have similar resources and populations, but Texas is thriving and California is stagnate.
According to data released today by the Bureau of Economic Analysis,Texas, the nation’s second most populous state, had the fastest growing economy in the nation in the first quarter of this year with its state GDP growing at a real annual rate of 3.9 percent.
California, the nation’s most populous state, ranked 42nd out of 50 states for first quarter economic growth, with its GDP growing at a real annual rate of just 0.1 percent.
The Texas economy, according to BEA, was driven up by a boom in the mining sector and by a large increase in manufacturing.
California’s economy was dragged down by the arts, entertainment and recreation sector; finance and insurance; retail trade; and agriculture, forestry, fishing and hunting.
We do know that a huge part of the problem is the great migration of people and businesses from California to Texas. People are tired of the far-left regulations placed by the ultra-left Sacramento. Businesses have had to make the move for financial reasons. California has taxed and regulated them out of the state. Texas has maintained a business friendly environment.
Texas is the huge benefactor of taxpayers moving out of Democrat ran states to move to a better economy and a better standard of living.
According to an analysis of 2013 IRS data by Americans for Tax Reform, Democrat led states lost $15.7 billion in adjusted gross income (AGI).
At a gain of 6 billion dollars and 150,000 new taxpayers, Texas gained almost half of that in 2013 and the trend is definitely not slowing down.
The top 5 losers are: (Democrat Governors)
New York (114,929 people with $5.7 billion in AGI)
Illinois (68,943 people with $3.8 billion in AGI)
California (47,458 people with $3.8 billion in AGI)
Connecticut (14,453 people with $1.8 billion in AGI)
Massachusetts (11,915 people with $1 billion in AGI)
The top 5 winners are: (Republican Governors)
Texas (152,912 people with $6 billion in AGI)
Florida (74,094 people with $8.3 billion in AGI)
South Carolina (29,176 people with $1.6 billion in AGI)
North Carolina (26,207 people with $1.5 billion in AGI)
Arizona (16,549 people with $1.5 billion in AGI)
It is a great American past time to vote with our wallets and our feet.
The 10th Amendment reserved the huge bulk of power for the states. Thus each state has within it’s power to thrive or collapse. When things get bad in one state, people move in droves to the states that are thriving.
No jobs, people flee!
Texas has had four times the job growth of California over the last 20 years. Texas unemployment is almost 50 percent below California’s. It really is not rocket science.
Hundreds of companies a year have been migrating from CA to TX and other states, taking jobs, and thus the taxpayers with them. Farmers Bros Coffee and Toyota being the latest in a huge line of companies that employees thousands.
As former governor Rick Perry pointed out for years, it costs twice the amount to rent a U-Haul one way from TX to CA as it does the reverse. U-Haul has to keep driving the empty trucks back to CA for someone to rent again for a move to Texas!
California has ‘bold solutions’ to remedy the situation. Gov. Jerry Brown pleads with fleeing companies to stay in California, and ostracizes those that are leaving. How’s that workin’ out for you California?
But the ultra-liberal Sacramento has no immediate plans to truly remedy the situation. There are no plans to create a healthier business climate in CA. Zero plans to stabilize taxes, foster de-regulation, or to offer business incentives to stop the great migration out of California to Texas and other business friendly states.
Business climate and lack of jobs is only a portion of the problems caused by Sacramento creating an influx of families leaving California for Texas and other states. California dumping trillions of gallons of water into the ocean to protect a bait fish while declaring an emergency water shortage is a WHOLE OTHER STORY!
Maybe when the only jobs left are at the toll booths at the Golden Gate Bridge, California will reverse the trend…