Texas Investment Paradigm
Many Americans work for a living to raise a family and achieve their dreams. The less you pay in taxes, the more you have to accomplish these goals. Working men and women come to Texas because taxes are low. They get to keep the money they earn and choose where to spend and invest it. Many people around the world find this concept attractive.
In 2008, per capita taxes paid in Texas was $3,580, accounting for 8.4 percent of the state’s per capita income, compared with 9.7 percent for the nation. The table shows that Texas ranks near the bottom in terms of taxes paid. This is one list where you like to be last!
As you can see, Texas was ranked 48th in 1977 and crept up to 43rd by 2008. This is not a good trend and needs to be watched diligently.
The article on which this series is based will be published in the October issue of Tierra Grande. It’s called “Nine Reasons to Invest in Texas.”