Home

Empire Center for
  Public Policy


Categories

Manhattan Institute
  for Policy Research

Fiscal Watch Memos

Payroll Watch Archive


   

Enter your e-mail address to receive notifications when there are new posts

 

 

 

April 12, 2012


We’re number 50 (again)

E.J. McMahon

New York’s economic performance over the past decade was mediocre — but its future looks worse,  according to the 5th annual Rich States, Poor States report, just issued by the American Legislative Exchange Council (ALEC).

The report — co-authored by the noted supply-side economist Arthur Laffer; Wall Street Journal editorial board member and economics writer Steve Moore; and Jonathan Williams, director of ALEC’s Center for State Fiscal Reform — ranks states on both a backward-looking index of Economic Performance for 2000-2010, and a forward-looking Economic Outlook index.

New York achieved a middling-to-fair rank of 21st in per-capita income growth and 24th in payroll growth during the past decade, but its overall Economic Performance rank came in at 40th, due to a last-place ranking for domestic migration.  (New York’s loss of population to other states has been documented by the Empire Center here, and here.)

Looking ahead, however, Rich States, Poor States assigned New York a ranking of 50th — dead last — based on 15 equally weighted policy variables, including tax rates and tax burdens, public employees as a share of population, government debt service, and unionization. The index does not include policy developments effective since 2011, so perhaps the enactment of Governor Cuomo’s 2 percent property tax cap (tax limitations being one of those 15 variables) will boost us back to 49th in the report’s sixth edition. Here are the full rankings:

3 Comments »

  1. Just wait til Next Year when the Millionaires Tax is fully reflected in the Statistics !!!

    Comment by eatingdogfood — April 12, 2012 @ 1:14 pm

  2. Consider the source! These Darwinians rank at the top states wherein the 1% have unfettered access to exploit the 99%. They count unionization as a negative. Toss this study in the trash.

    Comment by Dan Burke — April 12, 2012 @ 1:27 pm

  3. Supply side economist, indeed. Creator of the Laffer Curve. Trickle down theory maven.

    ALEC for sure the weightings will put the liberal states last and the far right up front.

    Get some balance please!

    Comment by WALTER ECKHARDT — April 12, 2012 @ 3:07 pm

RSS feed for comments on this post. TrackBack URL

Leave a comment

 

 
 

Empire Center for Public Policy
P.O. Box 7113 - Albany, New York 12224
phone: 518-434-3100