Jared Dillian, Columnist

The South Will Rise Again Under GOP Tax Plan

Florida and Texas will become the new centers of finance and innovation.

December 21, 2017 at 4:00 PM UTC

Jared Dillian is the editor and publisher of the Daily Dirtnap. An investment strategist at Mauldin Economics, he is author of "All the Evil of This World." He may have a stake in the areas he writes about.

Loading up the wagon train and heading south.
Photographer: David Knox

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It's hard to find controlled experiments in finance. But they exist. East and West Germany, North and South Korea, Chile and Venezuela. In crossing a border, you can immediately see the difference in economic output and financial well-being from one country to the next, based on variations in tax and regulatory policy.

The same goes for within the U.S. Tax policy drives economic behavior in this country, because people respond to incentives. As taxes in high-tax states have gone higher, there's been a migration out of states like New York, New Jersey and California, and into places like Texas and Florida.