In a report issued earlier this month, is part of the second edition of "Rich States, Poor States." Personal income taxes, sales taxes, average workers' compensation costs, and the state minimum wage are among the data included.
The report's authors call New York a "tax purgatory," where businesses die instead of flourish due to costly legislative policies.

"The top performing states keep taxes, spending and regulatory burdens low, while the biggest losers in the book tend to share similar policies of high tax rates, unsustainable spending and regulation," co-author Jonathan Williams said. "State governments that believe they can bring about economic recovery by growing government and increasing taxes are sadly mistaken."
That New York would rank low isn't a surprise to George Conboy, president of Brighton Securities. To get an understanding of how people view New York's prospects for economic growth, just ask the parents of college-aged children, who are leaving the state in droves to find jobs elsewhere, Conboy said.
"A lot of that can be laid at the feet of restrictive work rules and high taxes that discourage job formation," he said.

IN A RELATED STORY

June 3 (Bloomberg) -- Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign profits.
“It makes U.S. jobs more expensive,” Ballmer said in an interview. “We’re better off taking lots of people and moving them out of the U.S. as opposed to keeping them inside the U.S.”
.
Thompson of Symantec, the Cupertino, California-based maker of Norton anti-virus software and similar tools, said software companies are frustrated by being called tax cheats and compared with companies that moved their headquarters to low-tax countries such as Bermuda.

‘Counterintuitive’

Thompson called the Obama proposals “counterintuitive” to the administration’s other stated goals of fostering an innovation-oriented economy.
“It is a little bit ironic that most of our most significant trading partners and partners globally have taken the tack that they’ll reduce corporate tax rates to stimulate economic growth and not raise corporate tax rates,” Thompson said.


Obama has said his proposals would protect or create jobs in the United States. AND HE"S AN EXPERT:uhuh:

I like that word UNSUSTAINABLE

I think Bernanke used it yesterday to describe federal spending on "current" social programs and the CBO used it referring to Obamas budget and spending proposals....isn't that the fatal flaw of socialism?...eventually you run out of other peoples money....

I guess it's a good thing that we have all of these shovel ready green jobs to save our asses...

Yes it was the fatal flaw of the Soviet Union. They spent themselves out of existence, and less then 8 months ago, Putin made the comment during a speech that America seems to be following that path and if we did not stop, we would end up the same, taking most of the world's economy with us.

Several officials in China believe the U.S. will fall to 5 major territories by the end of 2010, and they will have political control over California, Nevada, Arizona and a few other former states. (read form Japanese news source). They actually had a map showing where the borders would most likely be and under whose protection/influence each area would be under.

Interesting, the only thing that kept the Soviets alive as long as they were was the fact that they had significant income from exports to the west. Hard for a socialist country to exist without money coming in from the outside.

Interesting, the only thing that kept the Soviets alive as long as they were was the fact that they had significant income from exports to the west. Hard for a socialist country to exist without money coming in from the outside.

Currently we get most of ours on loan from China..........

Currently we get most of ours on loan from China..........

Canada and Mexico. China is 3th on the list of US export purchasers.

And with only 5.9% of exports, compared to 19.1% and 11.8% with Canada and Mexico, respectively.

http://www.census.gov/foreign-trade/statistics/highlights/toppartners.html#exports

I was referring to the bonds we sell China to support our deficit spending.

The Soviet Union went bankrupt because Ronald Reagan pushed them to it. Reagan understood that the Cold War was really an economic war, and that all we needed to do was to spend at a rate we could not afford, but that the Soviets could less afford. The Soviet Union's fatal flaw was their predictability - a very common shortcoming.