States have always competed for business, but California’s monumental fiscal irresponsibility has created a vocal and active market in which other governors plan to pick off businesses that want to survive rather than drown in California’s onerous levels of taxation and regulation — and proud big-government progressive Jerry Brown as the new governor. From Stephen Moore of the Wall Street Journal comes the news that at least three GOP governors — Perry of Texas, Kasich of Ohio, and Scott of Florida — see California as a prime opportunity. As well they should.
Just when you thought things couldn’t get worse on the left coast, along comes more bad news for the Golden State. Across the country, Republican state legislatures and governors are adopting a new economic development strategy: Raid California for its jobs and businesses.
At least three Republican governors have said as much in interviews. The idea is to offer lower taxes, a more business-friendly atmosphere and the right to be left alone from overzealous regulators. “We just keep inviting California businesses to look at the economic climate in Texas, where we treat businesses like assets not villains,” said Texas Governor Rick Perry.
North Carolina, are you listening?
In this piece, John Locke Foundation President John Hood analyzes the fiscal train wreck in which many states find themselves.
