“I divided the country into the 25 highest-tax and 25 lowest-tax states by a measure of household taxes. In 2016, almost 600,000 people moved, on net, from the former to the latter,” writes Chris Edwards, director of tax policy studies at Cato in his study Tax Reform and Interstate Migration. “People are moving into low-tax New Hampshire and out of Massachusetts. Into low-tax South Dakota and out of its neighbors. Into low-tax Tennessee and out of Kentucky. And into low-tax Florida from New York, Connecticut, New Jersey, and just about every other high-tax state.” Read more here. … [Read more...]
California: Driving Away Success
Is your state's heavy taxation and regulation hurting your business? More people are feeling that way all the time, as I wrote in this piece on July 9, 2018. Despite the allure of Silicon Valley, Hollywood and it's natural beauty, California has succeeded in driving away a "small but statistically significant percentage of high-income residents after voters approved Proposition 30." If you don't remember, Prop 30 was a ballot measure Californians approved in 2012 raising taxes on high income earners. The measure turned what had been a net-in migration of high income earners to California … [Read more...]
Your Retirement Life: Cost of Living Higher in These States Part I
Take a look back at this post from April 25, 2018 for a view into the power of the Right to Work. A recent study by the Jefferson City-based Missouri Economic Research and Information Center (MERIC) estimates the average annual cost of living in 2017 for all 50 states. The National Institute for Labor Relations Research used MERIC’s data to calculate the average annual cost of living in Right to Work States and forced-unionism states. As of last year, 28 states are Right to Work—protecting employees from federal labor law provisions authorizing forced union dues and fees. Here are the … [Read more...]
Avoid Buying Mutual Funds Doing This
Jason Zweig, writing at The Wall Street Journal, details some inexplicable behavior by mutual fund managers, including generating massive tax bills for owners. You should try to avoid funds doing things like this. He writes: Mutual funds made one hot mess out of August. On Aug. 10, Fidelity Investments conducted stock splits on some of its biggest funds, cutting their per-share prices by a factor of 10 while giving investors 10 times as many shares -- a gesture that leaves shareholders exactly where they were before. On Aug. 22, Harbor Capital Advisors, which runs the $20 billion Harbor … [Read more...]
Can Bitcoin Ever Really Be a Currency?
The Leaders at The Economist explore what it means to be a currency, and whether or not bitcoin and other crypto-currencies meet that definition. The question is, if bitcoin doesn't meet the definition of a currency, can it ever truly be useful as one? The Leaders write: AN OLD saying holds that markets are ruled by either greed or fear. Greed once governed cryptocurrencies. The price of Bitcoin, the best-known, rose from about $900 in December 2016 to $19,000 a year later. Recently, fear has been in charge. Bitcoin’s price has fallen back to around $7,000; the prices of other … [Read more...]
One Man’s Stand Against “Google Marxism”
Take a look back at this piece on what George Gilder calls "Google Marxism." Then go on to read my Gilder inspired series called "Cryptocosm and Life After Google." In The Wall Street Journal's Weekend Interview, Tunku Varadarajan interviews George Gilder, an investment author who made it big during the tech boom, but subsequently lost it all when his subscribers deserted him after the bubble popped. Gilder is concerned about the idea that artificial intelligence will replace humans, a concept he calls "Google Marxism." Varadarajan writes: Mr. Gilder is one of a dwindling breed of polymath … [Read more...]
Your Retirement Life: Do Something
Activity, you know, trading in and out of stocks or bonds isn’t good for your financial health. I’ve always liked Vanguard founder Jack Bogle’s quote on the matter: “Don’t just do something, stand there!” But, when it comes to your overall health doing something may be the trick to your happiness. Deborah Gage reports in The Wall Street Journal about the "cascade of positive effects" exercise can have on your body. She writes: Exercise has been shown to protect against diabetes, stroke and several other diseases and to improve our moods. But does it also make us more likely to engage in … [Read more...]
The Clear Value of the Right-to-Work
You have clear evidence in the table below that allowing workers to choose whether or not to join a union really does matter. Take a look at the 10-year trend of workers in their peak earning years leaving New England—a region with forced unionism. Workers simply don't want to be forced to pay dues to fund efforts by the unions which they don't support. Whether that be political speech or contract negotiations that could put the corporations employing the union members in jeopardy. The National Right to Work Committee explains the correlation between forced unionism and population … [Read more...]
Consumer Confidence Soars in the Trump Economy
Americans are back to work, and with their new jobs they are feeling extremely confident as consumers. The Conference Board's survey of Consumer Confidence shows American consumers feeling better than they have since December of 2000. Martin Crutsinger reports at the AP: Americans’ consumer confidence rose in August to the highest level in nearly 18 years as their assessment of current conditions improved further and their expectations about the future rebounded. The Conference Board reported Tuesday that its consumer confidence index rose to 133.4 in August, up from a reading 127.9 … [Read more...]
Your Retirement Life: Do You Understand the Value of Bonds?
If you haven’t constructed your bond portfolio yet, then what are you waiting for? Once you’re in your 50s, the time has come to own some bonds. Consider bonds your anchor to windward. Determining how much you, not your neighbor, needs in bonds is a most personal equation. Only you and your spouse and hopefully your advisor know the right mix for you. Period. Unfortunately, those well into their golden years who put off bonds paid a devastating price in the two stock market crashes so far this century. So what are you waiting for? Imagine how you’ll feel in the third stock market … [Read more...]
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