If you were an experienced economist who was looking to escape California’s high taxes and stagnant economy, where would you relocate?
Well, if your name was Arthur Laffer (yes, that Art Laffer) you would move to Tennessee.
There are nine states in the U.S. with zero income tax. Tennessee happens to be one of them. I think that is a critical feature of any business being run. Why would you go to a state that has an income tax that’s ruining its population? This state has done a beautiful job,” he said.
There’s more here.
You can bet that an economist of Mr. Laffer’s stature analyzed every facet before deciding to move to Middle Tennessee. His example is why we must keep there from being a state income tax in Tennessee so that we can continue to be a beacon to the best and brightest from around the world.