Taxes matter. That’s why the Warren Buffett of the East, hedge fund manager Eddie Lampert, is leaving Connecticut. Can you blame him? Why hang around Connecticut with its 9% corporate tax rate when you can do it for less in Florida with its 5.5% corporate tax rate? Linda McMahon is running for the open U.S. Senate seat in Connecticut.
McMahon, having built World Wrestling Entertainment with her husband Vince, knows a thing or two about businesses. They tend to go where they can be most competitive. According to a recent Quinnipiac University poll, McMahon trails Democratic Rep. Christopher Murphy by only 3 percentage points in the race. Americans are not stupid. They know what it takes to make their state competitive. The victory of Governor Scott Walker in Wisconsin is a sign that voters around the country have had enough of inept and corrupt politicians. That’s great news for McMahon. And it’s better news for Connecticut. Then there’s Rhode Island with its 9% corporate tax rate, which acts as a barrier to any sensible business.