The June issue of the National Tax Journal has an article on the impact of a tax on millionaires in New Jersey. Although conservatives claim that it led many millionaires to leave the state, the article finds that the impact was negligible.
An April 26 study from the Center for Retirement Research examined the use of defined-contribution pension plans at the state and local government level.
Also on April 26, the Pew Center on the States published a study which found a $1.26 trillion gap between promises made by state and local government to their retirees and the assets available to pay those benefits.
An April 25 working paper from the National Bureau of Economic Research examined the value of various indexes of state business climates.
On April 18, the Federal Reserve Bank of Chicago published a study on the likelihood of debt defaults among local governments.
On April 7, the Federal Reserve Bank of Boston published a study on how New Hampshire manages with lower spending and taxes than other states in New England.
On April 6, the U.S. Government Accountability Office published new projections of the fiscal outlook for state and local governments. It sees continued deterioration despite the economic recovery mainly due to rising health costs.
On March 31, the Texas Public Policy Foundation published a study by economist Arthur Laffer opposing any increase in taxation in the state.
Also on March 31, the Congressional Budget Office published its latest report on unfunded mandates imposed by the federal government on state and local governments.
On March 23, the Census Bureau announced that state government revenues fell $14.3 billion in 2010 after falling $65.8 billion in 2009.
I last posted items on this topic on March 17.
Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Imposter: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).
