First published 2014
Economist Arthur Laffer builds a data-driven case for why states should eliminate or reduce their tax burdens to spur economic growth and wealth creation. He demonstrates that even small population states can achieve remarkable prosperity through proper policy choices. Laffer examines how state and local government decisions affect economic performance, using quantitative analysis to expose the failures of progressive tax systems that prioritize political constituencies over genuine wealth creation. He argues that states cannot tax themselves into prosperity any more than poor individuals can spend their way to riches. The book analyzes personal and corporate income tax rates, total tax burden as a percentage of income, estate and inheritance taxes, and right-to-work laws. Laffer shows readers how to assess state fiscal and economic policies to determine which approaches make states more competitive and create individual wealth as rewards for hard work and entrepreneurial risk-taking.
Genres: business, economics, non-fiction, academic
Vibes: thought-provoking
Tropes: data-driven
368 pages · Hardcover · Wiley