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Posted by on Jul 30, 2011 in Economy, Science & Technology | 8 comments

Taxachusetts Growth Rate Tops U.S.

The Massachusetts economy grew at an annual rate 4.3 percent from April to June. That’s more than three times faster than the national growth rate:

The UMass report showed that Massachusetts added 41,300 jobs in the first half of 2011. The state’s unemployment rate fell in June to 7.6 percent, down from 8.3 percent late last year…. The report, published by the UMass Donahue Institute in collaboration with the Federal Reserve Bank of Boston, predicted the state’s economy would continue to its solid recovery and grow 4.7 percent in the third quarter and 4.3 percent in the fourth.

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  • DLS

    More high-tech, less construction is what one person says to explain the growth. (By less construction, he means not overbuilding as other states did.) He says that the job claims may be higher than true, but evenif corrected (if higher), the result is still better than the US.

    Meanwhile, the U. S. Chamber of Commerce says the U. S. economy has grown less than previously thought.

  • Absalon

    And it manages to do this without being Texas, to boot.

  • DLS

    [grin] I knew somebody would bash Texas.

    (You failed to note aloud the types of jobs and wages paid by the jobs of note, especially by lefties, in each state, Axel. High-tech vs. minimum or low wage, that is. But don’t worry, because if Rick Perry enters the contest for the GOP nomination for the Presidency, before he ever is thought of as a VP choice, we’ll hear even more negatives about Texas than we already do from lefties, no doubt. Now what could be said about jobs or other things about the two states were Perry to be VP with former governor of Taxachusetts Mitt Romney?) (Would John Kerry bash them?)

  • DaGoat

    I guess the point here is that a high tax state is doing well. That is true but there are lower tax states that are also doing well. It would be nice to see a breakdown of state taxation vs degree of recovery, otherwise the Mass. experience is just anecdotal.

  • Absalon

    “It would be nice to see a breakdown of state taxation vs degree of recovery”

    As well as state taxation vs. numbers of abortions, teen pregnancies, people being proven innocent after being executed, level of homophobia, malnutrition and poverty among children, infrastructure problems, health issues, prevalence of creationism and other cancers of thought etc. etc.

  • One point: Massachusetts is no longer in the Top 10 taxed states. It is #11.

    “Taxachusetts” may no longer be appropriate.

  • DLS

    Hey, Axel, what do you have against Texas in addition to the things you have listed?

    * * *

    Barky — Make no mistake, it’s incontrovertibly “Welcome to Massachusetts — and you and everything you do or get shall be taxed.” But yes, there are other high-tax states out there.

    If you’re writing about total taxes raised:

    California (#1) and New York (#2) are obvious outliers on top.

    Per capita taxes would be a useful additional statistic.

    It used to be (through fiscal 2005, Bush’s first term) included.

    You can go back to FY 1993 (mainly Bush the Elder’s year) by changing the year number in the page name. (93-99, 00-10).

    Take a look at the per capita figures and the differences during the Clinton, Bush (W), and now Obama years.

  • Quelcrist Falconer

    Hey, Axel, what do you have against Texas in addition to the things you have listed?

    It’s too damn hot.

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