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Apr 04, 2013

States Without An Income Tax Gain Population And Wealth
IRS data proves that states without an income tax gained tremendous amounts of working wealth between 1995 and 2010.  Families and businesses moved from states with a high income tax to states with no income tax, and took their education, capital, and entrepreneurial spirit with them.  

Watch Governor Jindal yesterday in Alexandria discuss how eliminating the income tax will help Louisiana better compete with neighboring low tax states.  
  • Governor Jindal: “I can’t tell you how many people have come up and told me, ‘look my children, my grandchildren came home for Easter but then they had to leave because there are more jobs in Texas and other places.’ Between 1995 and 2010, one of the stats I gave up there, is we lost $6 billion in adjusted gross income out of Louisiana, half of that went to Texas.  … So one of the things we hear from families all over the state is, ‘yes it will be good for me on my taxes, but what is even more exciting is that it might help bring my kids and my grandkids home, and that is what I really want.’”     

The Facts:

The nine states with no personal income tax gained $146.2 billion in adjusted gross income (AGI) between 1995 and 2010.

The nine states with the highest personal income tax rates lost $107.4 billion in AGI between 1995 and 2010.

Between 1995 and 2010 Louisiana lost $6.15 billion in AGI to other states.    
  • States with no income taxes, Texas, Florida, and Tennessee received over $3.8 billion in working wealth from Louisiana, accounting for 62% of our lost AGI.

(Source: Travis Brown. "How Money Walks," Pelopidas LLC, 2013) State Police Emergency Information Louisiana Economic Development Fight Fraud Hotline Get A Game Plan