State governments are ultimately competitors in their economic policies when people, products and capital are free to move across state borders. Nowhere is this competition more apparent than in the United States where individual states compete to promote economic growth by attracting industry with tax holidays, outright grants, subsidized financing and other means. Yet, the arguably greater influence of state fiscal policy on investment decisions has largely been ignored. This book redresses that deficiency by providing a collection of chapters which discuss the theoretical and practical linkage between investment strategy and state economic policy. Specifically, it uses changes in relative state burdens as a measure of state fiscal policy and shows that by altering the incentives to work, save and invest, changes in a state's tax burden relative to other states influence decisions on whether, how much and where to invest.
The book is divided into three parts. The first section provides the theoretical framework for the book and discusses application of the basic model to explain the persistent differences in observed real income across states; the level of economic activity; and business starts and failures. The second section discusses, among other things, the implications of changes in state economic policy for investments in real estate; common stocks of small capitalization firms; and state general obligation bonds. The third section of the book, which examines the political dimensions of state economic policy, begins with a discussion of the effect of state economic policy on relative population shifts and reapportionment and ends with a proposal for a flat tax.

Investment Strategy and State and Local Economic Policy

Business & Money

Laffer, Arthur

Webb, Robert I.

Canto, Victor A.

Economics

Praeger

The focus of this book is to provide an introduction to the issues and procedures central to local government collective bargaining. There are many books which explain private sector labor relations but there are few books available which provide information pertinent to local governments. Consolidating the elements critical to public sector labor relations and collective bargaining, this book is written for public managers and employees. It defines terms, explains procedures, and provides examples of the legislation governing the mechanics of local government labor relations. Ideal as a supplemental book for courses in public personnel management and labor relations, it is also an important resource for local government administrators serving cities, counties, and school districts.

Local Government Labor Relations: A Guide for Public Administrators

Pynes, Joan

Lafferty, Joan

Business Development & Entrepreneurship

A passionate, detailed, quantified argument for state-level tax reform An Inquiry into the Nature and Causes of the Wealth of States explains why eliminating or lowering tax burdens at the state level leads to economic growth and wealth creation. A passionate argument for tax reform, the book shows that even states with small populations can benefit enormously with the right policies. The authors’ detailed exposition evaluates the impact state and local government policies have on a state’s relative performance and economic growth overall, backed up with economic data and analysis. Facts don’t lie. But they do point clearly to the failure of so-called progressive tax schemes designed more to curry favor with selected constituencies than to create an economic system that leads to individual wealth as the reward for hard work and entrepreneurial risk taking. An Inquiry into the Nature and Causes of the Wealth of States is a detailed and critical look at income taxation across the nation, and drills down into an analysis of the economic growth or malaise that results from tax policy. Arguing eloquently that a state cannot tax itself into prosperity, just as the impoverished cannot spend themselves into wealth, the authors point out what many inherently know but often fear to say out loud. The book provides detailed quantitative analysis, and discusses the policy variables that can have enormous effects on the financial well-being of states and individual residents, such as: <ul>
<li>Personal and corporate income tax rates</li> <li>Total tax burden as a percentage of personal income</li> <li>Estate and inheritance taxes</li> <li>Right-to-work laws</li> </ul>
An Inquiry into the Nature and Causes of the Wealth of States shows everyone how to evaluate state-level fiscal and economic policies to become more competitive.

An Inquiry into the Nature and Causes of the Wealth of States: How Taxes, Energy, and Worker Freedom Change Everything

MOORE, STEPHEN

Sinquefield, Rex A.

Brown, Travis H.

wiley

Current policy toward Puerto Rico is costing each American taxpayer $400 a year-a total of $22 billion. This book gives the scandalous history behind one of America's biggest and most expensive tax shelters, the "commonwealth" of Puerto Rico. The authors share the shocking truth about how the American taxpayer is footing a bill for antiquated policy toward this island. Puerto Rican businessman Alexander Odishelidze shares a revealing story of how bad policy is wasting taxpayer dollars and destabilizing the people and region of Puerto Rico, while renowned conservative economist Arthur Laffer bolsters the claims with his undeniable facts and figures. Together they build a convincing case that Puerto Rico must dispense with the chimera of commonwealth and become an independent nation or the 51st state of the United States of America.

Pay to the Order of Puerto Rico: The Cost of Dependence

Odishelidze, Alexander

Allegiance Press

As middle-class incomes stagnate in advanced economies while the rich experience record income gains, the 11th semi-annual Munk Debate pits wealth redistribution supporters Paul Krugman and George Papandreou against Newt Gingrich and Arthur Laffer to debate taxation — should the rich pay more? For some the answer is obvious: redistribute the wealth of the top income earners who have enjoyed, for almost a generation, the lion’s share of all income gains. Imposing higher taxes on the wealthy is the best way for countries such as Canada to reinvest in their social safety nets, education, and infrastructure while protecting the middle class. Others argue that anemic economic growth, not income inequality, is the real problem facing advanced countries. In a globalized economy, raising taxes on society’s wealth creators leads to capital flight, falling government revenues, and less money for the poor. These same voices contend that lowering taxes on everyone stimulates innovation and investment, fueling future prosperity. With advanced countries facing overextended social services, crumbling infrastructure, and sluggish economic growth, this premiere debate series on economic inequality tackles the essential public policy issue: Should we tax the rich more?

Should We Tax the Rich More?: The Munk Debate on Economic Inequality (The Munk Debates)

GINGRICH, NEWT

KRUGMAN, PAUL

Papandreou, George

House of Anansi Press

By two good friends who share a common view of the world in which we live.

A Template for Understanding the Economy: By two good friends who share a common

Education & Teaching

Sinquefield, Rex

Schools & Teaching

McGriff Publishing

Handbook of Tobacco Taxation: Theory and Practice

Pacific Research Institute for Public

One needn’t be an economist to know that California’s economy is in crisis. By a number of very important measures, California is failing. Especially considering the state’s status as a bellwether for the rest of the nation, California cannot allow this downward spiral to continue unchecked. It must be reversed—and sooner rather than later. Eureka! is a prescriptive book will provide a true economic roadmap for the rehabilitation of California through actionable solutions. Laffer also looks at other states to endorse practical policies that have resulted in strong economic growth.

Eureka!: How to Fix California

Pacific Research Institute

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