WHAT EXIT N.J.
A report released earlier this month by the Foundation of Things and Stuff (FTS), determined that states with higher tax rates produced “more things and stuff”, like “roads”, “schools”, “playgrounds” and “parks” for their state residents.
“Because less than 10 percent of the state budgets are invested in producing items that qualify as ‘things and stuff’, state spending has a large impact on their residents’ lives,” says Byarak Ishunit, President of FTS.
The FTS Well-Being Index is a national, research-based composite measure, updated annually, that describes how residents in the United States have fared since 1975. It combines national data from 28 indicators into a single number that reflects overall residents “things and stuff”.
New Jersey had the highest FTS value, 0.85. Other high-ranking states include Massachusetts, New Hampshire and Connecticut. The lowest ranking states were Arizona, Nevada, Arkansas, Louisiana, Mississippi and New Mexico.
According to the report, states that have higher tax rates generate higher revenues and have higher FTS values than states with lower tax rates. The amount of public investments in Things and Stuff is strongly related to FTS values among states.
“With this new measure, we can see proof of the direct impact of state policies: when states invest in ‘things and stuff’, residents have more things and stuff,” continued Ishunit.
Joey Novick is the Editor in Chief at www.whatexitnj.com.