The conclusion this meme would like you to draw is that higher taxes on the rich is good for both job growth and a state’s budget.
This meme has several things wrong with it:
- Are Kansas and California’s economies similar enough for a comparison to be valid?
- How do we verify the statistics, what period are we talking about?
- The meme admits that California hasn’t had a budget surplus the previous year or the one before that – were the taxes on the rich lower than in Kansas those years and that was the reason?
- “Job growth” is a relative value. The 5th higher job growth in the nation is impressive if it is sustained, but unimpressive if California grew from 15% unemployment to 14% unemployment, and Kansas stayed constant at 5% unemployment.
Also, what is the definition of “the rich”? Top 10% of earners (probably a lot richer in California)? Earners above x$ a year (probably a lot more of them in California)?
h/t David Preston