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Selling Snake Oil to the States (PDF)
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| Contributor | RP |
| Last Edited | RP Dec 12, 2012 03:02pm |
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| Category | Analysis |
| Author | Peter Fisher |
| News Date | Wednesday, December 12, 2012 08:00:00 PM UTC0:0 |
| Description | This year marks the fifth anniversary of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index. Written by Arthur Laffer and others and published by the American Legislative Exchange Council (ALEC), Rich States, Poor States embodies the policy agenda that ALEC pushes to state legislators: reduction or abolition of progressive taxes, fewer investments in education and other public services, a smaller social safety net, and weaker or non-existent unions. These are the policies, ALEC claims, that promote economic growth.
A hard look at the actual data finds that the Alec-Laffer recommendations not only fail to predict positive results for state economies— the policies they endorse actually forecast worse state outcomes for job creation and paychecks. That is, states that were rated higher on ALEC’s Economic Outlook Ranking in 2007, based on 15 “fiscal and regulatory policy variables,” have actually been doing worse economically in the years since, while the less a state conformed with ALEC policies the better off it was. |
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