, 4 tweets, 1 min read Read on Twitter
Wall Street Journal (news section of course): The South's Trumpian economic policies are holding it back. wsj.com/articles/the-s… No surprise. It's been our poorest region forever. (Bottom line of graph.)
This important chart contradicts all of right-wing economic theory. The South has long had the lowest taxes, least regulations, smallest government spending on roads, education & health of any region. This was the direct result of a racist philosophy of denying aid to minorities.
By contrast, the liberal Northeast has long been our most prosperous region despite high taxes, larger governments and a much more tolerant attitude toward minorities (including religion & sexual orientation). I have never heard a right-wing economist explain how this can happen.
The persistent wealth of liberal states and poverty of conservative states not only contradicts right-wing theory but standard economic theory, which says that over time there should be "convergence" as capital flows to its highest after-tax return.
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