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Thursday, February 6, 2020

Tax Base in Wyoming Getting Weaker

In this video I explain how our tax base is getting weaker over time, making tax hikes a very costly endeavor:



These are the charts referenced in the video:


Figure 1
Employment trend; Trend in dependency on government transfers

Source of raw data: Bureau of Economic Analysis

Figure 2: Wages and salaries as share of total employment-based income

Source of raw dataBureau of Economic Analysis




2 comments:

  1. You're assuming the increase of government entitlement transfers are because of need. NOT availability. Democrats have spent the past several decades using government money to buy votes, and most entitlements are easier to qualify for. So people take advantage of them. The actual solution is not "more taxes," The solution is LESS SPENDING!!! Wyoming doesn't need to be the State with the highest number of State Government employees per capita.

    ReplyDelete
    Replies
    1. I am not assuming that at all. In fact, I agree with your point that availability drives entitlement demand. And I am glad that you have picked up on the Government Employment Ratio, which I started reporting on in 2012. Yes, we need less spending: https://polecon.thewyomingprosperityproject.com/2019/12/seven-ideas-for-spending-reform.html

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