Evening view of Downtown San Bernardino, California. (Photo: Matt Gush, Shutterstock)
California’s Economic Outlook: 47th in the Nation
States that spend less, especially on income transfer programs, and tax less, experience higher growth rates than states that tax and spend more
By Katy Grimes, April 15, 2024 2:12 pm
One of my favorite state rankings publications is out, and unfortunately, California does not have good news… again.
The American Legislative Exchange Council, ALEC, publishes the annual Rich States, Poor States report, authored by economists Art Gaffer, Stephen Moore and Jonathan Williams.
If only we could make it mandatory reading for California’s economically illiterate Governor and Legislature.
The 2024 report examines the latest movements in state economic growth and competition and ranks the economic competitiveness of states using 15 equally weighted policy variables.
California ranked 47th for economic outlook. (Someone tell Gov. Gavin Nerwsom that Florida ranked 14th.)
Florida ranked #1 on economic performance, while California ranked 21st.
How does Rich States, Poor States measure rank?
Economic Outlook Rank (1=best 50=worst) is a forward-looking forecast based on the state’s standing (equal-weighted average) in the 15 important state policy variables shown below. Data reflect state and local rates and revenues and any effect of federal deductibility.
California’s 15 important state policy variables are below:
California is currently ranked 21st in the United States for its economic performance. This rank is a backward-looking measure based on the state’s performance (equal-weighted average) in three important performance variables shown below. These variables are highly influenced by state policy.
What makes a top ranked state for economic outlook? Low or no Top Marginal Personal Income Tax Rate, low corporate tax rate, right to work state, low debt services as a share of tax revenue, low workers compensation costs, low property tax burden, low Personal Income Tax Progressivity… everything California is not.
These are the top 10 states for the forward-looking economic outlook:
These are the bottom 10 states for the forward-looking economic outlook:
While California’s politicians focus on abortion travel, health benefits for illegal immigrants, climate change, reparations, water restrictions, outlawing gas, and wind and solar energy, crime has escalated in every city, streets are now home to drug addicted vagrants, and Gov. Newsom has a $73 billion budget shortfall.
Maybe, just maybe, lower taxes and a right to work state would improve California’s standing – for everyone.
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Blue states – boo hoo
Red states -are great
Wait a minute, Newsom told us he beats Florida in every economic, social metric!
Governor Newsolini must be using his special rose colored fancy glasses to read the charts.
Now let’s examine the quality of life outside of California!
I believe my eyes over the crap the democrats peddle to us!
Well on the bright side there is only one way to go and that is up. As we all know California has endless potential with the right leadership in place. What we are witnessing today in society is confusion created by turning our backs on God and His values. Having read about previous generations that have made these same mistakes I find comfort in that God will never leave us or forsake us. Now is the time for all Californians to repent of our wrong doings (sins) and to begin to walk humbly before our God. God always shows mercy to those who call out to Him.
Newsom and the criminal Democrat mafia that controls California could care less if the state was dead last as long as they and their cronies continue to amass more wealth and power at the expense of hard-working Californians? They’re doing the bidding of their deep-state globalist paymasters?
It’s not a coincidence that California and the rest of the states at the bottom of the economic outlook are all controlled by DEMOCRAT thugs!