Hendrickson & Stansel: Growing Iowa’s Economy Through Economic Freedom
A major trend from the Census is the growing number of individuals who are voting with their feet against bad economic policies. States with high tax and regulatory burdens such as California, New York, Illinois, among others are all experiencing population loss. States with either low- or zero-income taxes such as Texas, Florida, and North Carolina are gaining residents.
Tax rates matter and high taxes deter both productivity and economic growth. The COVID-19 pandemic is also changing the nature of work and as a result both businesses and people are becoming more mobile with working from home. The Census results and the embrace of workplace mobility are just two examples of individuals pursuing economic freedom.
Iowa’s economy is in recovery from the pandemic, but challenges remain. Perhaps the most significant economic challenge is the need to find workers. Iowa businesses need qualified workers to fill numerous…
