What A Shocker!
SOUTH CAROLINA HAS NO FAST-GROWING COMPANIES
FITSNews – September 6, 2007 – So Fortune Magazine put out its list of the Top 100 fastest-growing companies in America today, and believe it or not South Carolina didn’t have a single company on the list.
What? Not even one? This is truly stunning when you stop and think about it, people. You’d think South Carolina would be a damn magnet for economic growth considering we have stratospheric unemployment, bottom-of-the-barrel income levels, an anti-competitive tax code that’s every CEO’s worst nightmare, the worst public education system in the Western Hemisphere and a bunch of crooked and illiterate Boss Hogg’s running state government like it was the illegitimate offspring of Soviet Russia and Hazzard County.
Seriously, that sounds like a recipe for success to us! Incidentally, our neighbors in Georgia and North Carolina each had two of the nation’s fastest-growing companies, and Tennessee and Florida each had four of them. Of course, at least two of Tennessee’s probably have something to do with crystal meth, and we really shouldn’t feel too bad about ourselves seeing as Mississippi didn’t have one, either.
Comments
By Carl Spackler on September 6th, 2007 at 8:30 pm
But we gots plantation mentality!
By Chad on September 6th, 2007 at 10:55 pm
Not surprisingly, 4 of the top 9 states on the list have no income tax. In fact, those four states (TX, WA, TN, and FL) contain 42 of the top 100 growth companies in the United States. Those four states are also home to some of the top relatively newer brands in America today such as Microsoft, Dell, Amazon, Starbucks, Fedex, Costco, Publix, Whole Foods, Southwest Airlines and the Hospital Corporation of America.
Those four no income tax states are also home to a slew of restaurant chains such as Outback, Carrabba’s, Olive Garden, Red Lobster, Chili’s, Ruby Tuesday, Cracker Barrel, O’Charley’s, Perkins and Friday’s to name just a few.
So the next time you purchase a product from one of those world-class companies (likely this weekend) think about how nice it must be to live in one of those states that is benefitting both from your spending and from not having any state tax on income.
Maybe someday we will even lower our ridiculously high income tax rate in South Carolina to start attracting some of those types of companies and importing billions of dollars to our state as well….
By Mr. Business on September 7th, 2007 at 8:15 am
I think it is more the no income tax than the crystal meth. Last year it seemed the whole month of August was Nashville newspapers writing about one california entrepeneur after another picking up his company and moving it to the Volunteer state. Who would have thought that potential mega millionaire’s would want their companies located in state’s where they would pay no income tax?