"Economically, Texas is just too much for California to handle... Texas's economic environment is more competitive in all of these categories... Texas's future prosperity looks bright: stronger income, wealth and employment growth will occur in the Lone Star State relative to California, as well as the country as a whole. The opposite is true for California: weaker economic performance and less relative growth will ensue."
Hoven's Index for May 22, 2010
California statistics:
Top marginal personal income tax rate: 10.55%
Top marginal corporate income tax rate: 8.84%
State minimum wage: $8.00
ALEC-Laffer Competitiveness Index ranking: 46
Texas statistics:
Top marginal personal income tax rate: 0.00%
Top marginal corporate income tax rate: 5.56%
State minimum wage: $7.25
ALEC-Laffer Competitiveness Index ranking: 19
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