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Friday, April 14, 2023
Rich States, Poor States -- Hawaii ranks 45th
By News Release @ 7:36 PM :: 2496 Views :: Hawaii Statistics, Taxes

Rich States, Poor States 16th Edition

from ALEC, April, 2023

The 16th edition of ALEC’s Rich States Poor States features an evaluation of each independent state and key areas of policy in that state to better understand its economic trajectory.

The Economic Outlook Ranking is a forecast based on a state’s current standing in 15 state policy variables. Each of these factors is influenced directly by state lawmakers through the legislative process.

Generally speaking, states that spend less — especially on income transfer programs — and states that tax less — particularly on productive activities such as working or investing — experience higher growth rates than states that tax and spend more….

HAWAII (pg 17)

45th -- Economic Performance Rank (1=best 50=worst) A backward-looking measure based on the state’s performance (equal-weighted average) in the three important performance variables shown below. These variables are highly influenced by state policy.

  • State Gross Domestic Product
  • Absolute Domestic Migration
  • Non-Farm Payroll Employment

42nd -- Economic Outlook Rank (1=best 50=worst) A forward-looking forecast based on the state’s standing (equal-weighted average) in the 15 important state policy variables shown below. Data reflect state and local rates and revenues and any effect of federal deductibility.

  • Top Marginal Personal Income Tax Rate
  • Top Marginal Corporate Income Tax Rate
  • Personal Income Tax Progressivity
  • Property Tax Burden
  • Sales Tax Burden
  • Remaining Tax Burden
  • Estate/Inheritance Tax Levied?
  • Recently Legislated Tax Changes
  • Debt Service as a Share of Tax Revenue
  • Public Employees Per 10,000 of Population (full-time equivalent)
  • State Liability System Survey
  • State Minimum Wage
  • Average Workers’ Compensation Costs
  • Right-to-Work State?
  • Number of Tax Expenditure Limits

read … Full Report  

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