The Lone Star State is the most economically free state in the nation, according to a new report released by the Fraser Institute. The ranking took into account the size of government, taxes, red tape, and labor market freedom. The study said, "When the government taxes one person in order to give money to another, it separates individuals from the full benefits of their labor and reduces the real returns of such activity. These transfers represent the removal of property without providing a compensating benefit and are, thus, an infringement on economic freedom." Following Texas was South Dakota, North Dakota, Virginia, and New Hampshire. "The link between economic freedom and prosperity is clear - states that support low taxation, limited government and flexible labor markets see greater economic growth while states with lower levels of economic freedom see lower living standards and less economic opportunity," study co-author Fred McMahon reportedly said. Texas' economic freedom has allowed every industry in the state to expand. Many, including Texas Governor Rick Perry, claim that this growth was bolstered by the state's low taxes and reliable regulation.
-Brietbart.com, December 14, 2014
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