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Texas Gets It

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Business creation isn’t easy. It must be nurtured. The same is true after it becomes a viable concern. Businesses go to where they have an edge so they can offer customers lower prices among other things. High taxes and legal fees are the bread and butter for “no mas” business states likes New York. In contrast Texas is open for business. Texas Governor Rick Perry, as The Wall Street Journal reports, gets it:

“‘New’ New York sounds a lot like old New York. Higher taxes, stifling regulations, bureaucrats telling you whether or not you can even drink a Big Gulp,” the Texan says in a radio ad, part of a million-dollar media buy in the region.

In meetings with companies from a range of industries, including financial firms in New York City and gun manufacturers in Connecticut, Mr. Perry highlights the main virtues of Texan capitalism: no state income tax, minimal regulation and a lack of “frivolous litigation.”

Mr. Perry is also trying to make a larger political point. “I’m really intrigued with having a national conversation, hopefully a very civil discourse, about red state versus blue state policies,” he told New York’s WCBS. According to an analysis by the American Legislative Exchange Council, of the 10 states that had the best economic performance over the past decade, all but two—Nevada and Washington—are red states.

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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.