Richardcyoung.com

The Online Home of Author and Investor, Dick Young

Escape to Wisconsin

By

Money goes where money is well treated. It’s that simple. Look no further than the state of Wisconsin’s newly elected GOP Governor Scott Walker and his new slogan to businesses in neighboring states, “Escape to Wisconsin.” And escape they will, as he works to eliminate the corporate income tax for two years and most likely many more.

Contrast Mr. Walker with Illinois Governor Pat Quinn and his 50% increase in corporate income taxes and you get the picture of why companies are hitting the bricks for Wisconsin.

I recently wrote about the tectonic shift in the number of governors and state legislatures controlled by the GOP: “A massive tectonic shift in Republican power will occur in the 25 states where they will control the entire legislature. That’s 11 more than going into the midterm, which hasn’t happened since after the 1952 election, when they had 26.”

Newly elected Governors Scott Walker of Wisconsin, Rick Snyder of Michigan, John Kasich of Ohio got the message. So have many of the other newly elected 17 GOP governors who comprise the GOP’s gubernatorial-majority of 29 in the country.

What’s more is Democrat governors will be feeling the pressure from their legislative counterparts where Republicans control 57 chambers, Democrats 39 (with two tied, the Alaska Senate and Oregon House). In fact, Republicans hold the largest majority for the party since 1928, with control of 54% of the nation’s 7,382 legislative partisan seats.

Meanwhile governors like newly reelected Jerry Brown in California search for ways to make good on their promises to unions and seek to increase taxes. Americans have had enough and will simply move on with their businesses to a state where they’re well treated.

The following two tabs change content below.

E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

Latest posts by E.J. Smith - Your Survival Guy (see all)