by Arthur Laffer
In June of 2006, I deserted my long-time friend and love of my life, California, for the unknown venue of Tennessee. The push and the pull of the two locations are pretty obvious — taxes. Tennessee, like Texas, has no state income tax, no state capital gains tax, lower property taxes, lower workers’ compensation costs and roughly the same sales tax rate. California, on the other hand, is just simply tax- and fee-crazy.
But in spite of all the tax, fee and regulatory reasons for leaving California, I was deeply concerned that I would be stranded in an uneducated, lawless morass of tobacco-chewing Neanderthals driving old clunkers on dirt roads where churches were on every street corner and there wasn’t a hospital to be found. [Read more...]