No that couldn’t possibly be the reason why North Dakota was the only state to gain jobs.  Cutting taxes may, just may help create jobs.  I know who would have thought that cutting the taxes of those who create jobs would allow them keep more money so they could create more jobs.

Novel concept.

North Dakota Individual Income Tax, 2009

Single Person

Income Bracket Pre-Cut Rate Post-Cut Rate
>$0 2.10% 1.84%
>$33,950 3.92% 3.44%
>$82,250 4.34% 3.81%
>$171,550 5.04% 4.42%
>$372,950 5.54% 4.86%

Married Filing Jointly & Surviving Spouse

Income Bracket Pre-Cut Rate Post-Cut Rate
>$0 2.10% 1.84%
>$56,750 3.92% 3.44%
>$137,050 4.34% 3.81%
>$208,850 5.04% 4.42%
>$372,950 5.54% 4.86%

North Dakota Corporate Income Tax, 2009

Bracket Post-Cut Rate
>$0 2.10%
>$25,000 5.25%
>$50,000 6.40%

It was a modest tax cut, but with this economy any tax cut helps.  Perhaps the beltway folks will figure this out, but I’m not going to hold my breath.

HT: California Conservative via All American Blogger

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