Wednesday, May 10, 2006
Ohio's Personal Income Growth Could Be Worse, We Could Be Colorado
A May 4, 2006 article in USA Today by Dennis Cauchon includes a chart showing growth in personal income between 2000 and 2005. Ohio ranks an anemic 38th, but wait Colorado ranks 44th, only six states had slower growth in personal income than Colorado.
TEL proponents want desperately to belive that the TABOR amendment in Colorado produced an economic miracle for the state. That's just not the case. On the other hand TEL opponents should be careful about pointing to the TEL as the source of all of the state's economic woes, thats not accurate either. A recent study from the Urban Institute entitled The Colorado Revenue Limit: The Economic Effects of TABOR is worth reading and can be found at http://www.urban.org/publications/1000940.html. It is very helpful at sorting out some of the conflicting claims.
The source for the data according to USA Today "included economists and research analysts including Edward Barbier, University of Wyoming; Paul Brewbaker, Bank of Hawaii; Beth Ashman Collins, Rhode Island Policy Council; Eleanor Craig, University of Delaware; Carl Ferguson, University of Alabama; Stephen Fuller, George Mason University; Ernie Goss, Creighton University; Ivars Graudins, Washington Department of Employment Security; John Knapp, University of Virginia; Laurie Lachance, Maine Development Foundation; Gregory Miller, SunTrust Banks; Phil Pepper, state of Mississippi. Data from Bureau of Labor Statistics; Bureau of Economic Analysis; Federal Deposit Insurance Corp."
TEL proponents want desperately to belive that the TABOR amendment in Colorado produced an economic miracle for the state. That's just not the case. On the other hand TEL opponents should be careful about pointing to the TEL as the source of all of the state's economic woes, thats not accurate either. A recent study from the Urban Institute entitled The Colorado Revenue Limit: The Economic Effects of TABOR is worth reading and can be found at http://www.urban.org/publications/1000940.html. It is very helpful at sorting out some of the conflicting claims.
The source for the data according to USA Today "included economists and research analysts including Edward Barbier, University of Wyoming; Paul Brewbaker, Bank of Hawaii; Beth Ashman Collins, Rhode Island Policy Council; Eleanor Craig, University of Delaware; Carl Ferguson, University of Alabama; Stephen Fuller, George Mason University; Ernie Goss, Creighton University; Ivars Graudins, Washington Department of Employment Security; John Knapp, University of Virginia; Laurie Lachance, Maine Development Foundation; Gregory Miller, SunTrust Banks; Phil Pepper, state of Mississippi. Data from Bureau of Labor Statistics; Bureau of Economic Analysis; Federal Deposit Insurance Corp."
