« President Trump is mentally and physically healthy; the White House press corps is not | Cory Booker completely loses it at DHS secretary Kirstjen Nielsen »
January 17, 2018
Which 'sinkhole states' are most at risk from the GOP tax bill?
Forbes financial writer William Baldwin asks which "sinkhole states" will have the biggest headaches from the GOP tax bill: These are places where the population dependent on the state – for employment, welfare[,] or a pension – is larger than the population feeding it. That excess of takers over makers is recipe enough for trouble when the next recession hits. But now some of the sinkholes have a new worry. The Trump tax law enacted in December just about killed the federal deduction that prosperous people take for state income taxes. In states with stiff taxes, the cost of living has suddenly gone up. Baldwin, a former editor of Forbes magazine, has compiled a list of "sinkhole states" having a "Feed Me Ratio" over 100 and a net out-migration of taxpayer income: "[s]inkholes also have a Feed Me Ratio worse than 100. The ratio is the population of takers for every 100...(Read Full Post)