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News American Economy 5

Published on November 11th, 2014 | by Nick Adams

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It’s Texas, not California, stupid

November 11th, 2014 | by Nick Adams

Make no mistake.

Liberalism was on trial last Tuesday.

As they often do, voters voted according to their hip pocket.

An overwhelming number of Americans indicated that they wanted a return to the vigor and vitality of America’s free enterprise model.

The liberal model is broken.

And the American people knew it.

That’s why exit polls showed the economy was the top issue among voters, with 65% saying the nation is on the wrong track — the highest level of voter dissatisfaction in at least 25 years, except for the deep-recession year of 2008.

Under the Obama economy, the average family has had no gain in income for six years and they are working harder to pay down the excess leverage from the 2000s.

America was waning, because the entitlement state was waxing.

Now, I’m a free market kind of guy, and want prosperity for everyone, which is why the election outcome was one I was extremely happy with.

Consider the tax rates in Connecticut. And in Maryland, Massachusetts and Illinois. Income tax increases aimed at the rich simply drive them away.

Look at what happened in Britain. They raised the top tax rate to 50 percent, and two-thirds of the millionaires disappeared in the next tax year. Same things are happening in France. People are leaving where the top tax rate is 75 percent. Same thing happened in Maryland a few years ago. New millionaire’s tax, the millionaires disappeared. You’ve got exactly the same thing in California.

All of these places can expect more migration.

Compare it to Texas. The people are flooding in. Almost eight percent of America’s homes are in the Lone Star State. If it were its own country, it would have the 13th highest GDP in the world. Over the last 20 years, Texas has become an increasingly important part of the US economy. In 1995, it made up around 6.5% of the total US GDP, and by 2014 it was over 9%.

Why? Taxes are low, spending is under control and jobs are on the rise. That’s the model America needs to replicate.

It’s great that the American people woke up and realized what liberalism is all about: “Everything I don’t like must be banned. Everything I like is a human right and must be paid for by others.”

Bring on 2016.

Read the column on Townhall.com.

You can buy Nick’s best-selling book here.

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