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"What experience and history teach is this -- that people and governments never have learned anything from history, or acted on principles deduced from it." (Georg Wilhelm Friedrich Hegel, "The Philosophy of History," 1837)
Last week, the Newark Star-Ledger reported that New Jersey lost $70 billion in wealth over the past five years. The reason? Affluent people have moved to states with a lower tax rate or no income tax at all.
The findings are from a study conducted by the Center on Wealth and Philanthropy at Boston College, the first study on interstate wealth migration in...
Unlearned Lessons
States with laws encouraging small business, by tweaking their laws, are gaining in quality of life, despite lower wages. If Obama will not recognize the effect of bigger government, he must be, at very least, a socialist. Corzine, who, to his credit, got rich in the Private sector should have shrunk government, but, because of the nature of a Democracy, winning the vote of the takers was primary. The citizens of NJ showed their intelligence in voting him out.