SC

SC Economy Ranked Nation’s Fifth-Worst

PALMETTO STATE FARES POORLY ON ANOTHER NATIONAL LIST South Carolina’s economy is ranked fifth-worst in the nation, according to a list released this week by the website Business Insider. The Palmetto State fares poorly on employment, per capita gross domestic product (GDP) and incomes … all of the stuff that matters,…

PALMETTO STATE FARES POORLY ON ANOTHER NATIONAL LIST

South Carolina’s economy is ranked fifth-worst in the nation, according to a list released this week by the website Business Insider.

The Palmetto State fares poorly on employment, per capita gross domestic product (GDP) and incomes … all of the stuff that matters, in other words.

“South Carolina lost 4,600 nonfarm payroll jobs in July, the third-worst loss in the country,” the website notes. “Gross Domestic Product per capita was just $30,728, also the third-lowest.”

Ouch …

Only four states had worse economies than South Carolina, according to the report: Maine, Arkansas, New Mexico and Mississippi.

This website has been exposing the myth that is South Carolina’s “recovery” for some time now … just as we were the first to expose the “welfare-to-work” scam of incumbent governor Nikki Haley.

Haley has been busted on several occasions artificially inflating the state’s employment picture, too (including HERE and HERE).  She’s also bragged about reductions in the state’s unemployment rate … neglecting to mention the decline has been due to people leaving the workforce.

Will South Carolinians ever wake up and figure out just how badly they have it?

Don’t count on it … not as long as the government-run schools keep dumbing people down.

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81 comments

FastEddy23 September 8, 2014 at 11:26 am

Nothing will save the economy now except a whooping big tax cut. Abolish the IRS.

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Tom September 8, 2014 at 11:45 am

Color me shocked. Did anyone notice 9 of the bottom 10 states were run by Republicans; and if we eliminate Hawaii, whose economy is solely based on tourism and the military; which are essentially beyond their control, its 10 of the bottom 10.

Further if we eliminate the oil boom states, 9 of the top ten states are run by Democrats.

Also, the top ten states, with the exception of the oil boom states all have have higher taxes than the bottom ten states.

But I know the Republican answer. Elect more Republicans, cut more taxes on the wealthy, give more money to corporations, cut benefits to the poor and middle class, cut public education.

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Smirks September 8, 2014 at 11:59 am

Republicans could lower taxes to 1% and still be claiming that cutting taxes more will recover the economy, fix the deficit, create jobs, cure cancer, end world hunger, etc.

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Jackie Chiles September 8, 2014 at 1:46 pm

Quick, blame Republicans for bad state economies. Also, ignore deficit issues facing democratic controlled cities and states as out of their control.

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Tom September 8, 2014 at 2:27 pm

I only blame them because its their fault.

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The Tax Man Cometh September 8, 2014 at 2:36 pm

Chiles just wants another tax cut.

So? September 8, 2014 at 3:44 pm

So what if he does? Maybe he’d know what to do with it.

Comrade Rocky September 8, 2014 at 4:24 pm

Invest it in Russian gas exploration.

Jackie Chiles September 8, 2014 at 2:42 pm

Exactly. California, NY, Detroit all face problems because of those pesky Republicans.

FastEddy23 September 8, 2014 at 3:46 pm

… and Kansas City and …

So what happens when the various [D] g’ments run out of taxpayers?

“… It’s the Labour Government that have brought us record peace-time taxation. They’ve got the usual Socialist disease – they’ve run out of other people’s money.” – Margaret Thatcher in wikiquote.

Tom September 8, 2014 at 4:08 pm

Taxes on the richest Americans are at near 50 year lows, and the net worth of the richest Americans the highest it has been in the last century. Currently the top 3% of Americans own 45% if all assets in this country. They can afford a little more in taxes to build world class infrastructure and a world class education system in this country. If SC had done that over the past 20 years we would be in much better shape today.

FastEddy23 September 9, 2014 at 12:10 pm

Agreed. “The Rich” are getting too many breaks … And that’s because The Rich have enough to sway the [D]’s and [R]’s to continuously rewrite the tax codes. (Sway? No make that force! The US Treasury Department is just a branch of Goldman Sacks Of It. … Oh, Bummer.)

Tom September 8, 2014 at 4:04 pm

I suspect SC and Mississippi would love to change places on this list with California, New York and Michigan. All three have better economies than SC by a long shot.

Jackie Chiles September 8, 2014 at 4:20 pm

They have much larger populations you dolt.

Tom September 8, 2014 at 5:04 pm

The list takes population into account you dolt. There are small states with good economies and their are large states with good economies. If SC were where say Michigan is on the list it would mean we have a better economy than we do now, you dolt.

FastEddy23 September 8, 2014 at 3:43 pm

So, how about 0.1% on every transaction, every day … that would reap more than four times the current Treasury Department revenues from all sources, including personal and corporate income taxes.

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Tom September 8, 2014 at 3:55 pm

Try to get a consensus on the definition of transaction and you will see the problem with your proposal. Republicans want to exclude transactions by rich people.

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FastEddy23 September 9, 2014 at 12:03 pm

I do see more than one problem with this proposal, but it sure is a whole lot better than what we have now = 70,000 pages of IRS tax “codes” and growing.

([R]’s are not the only big g’ment taxsuckers propagandizing to keep the status quo.)

I call September 8, 2014 at 3:44 pm

So does that mean you’re willing to try lowering it to find out?

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a face in the crowd September 8, 2014 at 12:17 pm

Can’t use economic arguments with people who have a psychological need to fight all things federal, including taxes. They are still fighting the Civil War.

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FastEddy23 September 8, 2014 at 3:48 pm

Absolutely. Still fighting the carpet baggers ’cause they keep coming.

Classic Liberals started this campaign of slashing bigger g’ment shortly after the Civil War … They invented tar and feathers for the scalawags, too.

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major major September 8, 2014 at 12:46 pm

It’s true that 7 (not 9) of the bottom 10 states have Republican governors. Six of the bottom 10 voted Romney in 2012. Regarding the party in control of the state legislature, it’s an even 5-5 split. So depending on how you look at it the bottom ten tend toward Republican, but not overwhelmingly so.

On the other hand, 3 of the top 4 are solid red states according to all of the above criteria.

In other words, as usual, there’s some nuance in these kinds of rankings but don’t let that get in the way of your anti-Republican polemics.

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FastEddy23 September 8, 2014 at 3:51 pm

A hasty generalizations based on insufficient evidence.

One can easily be anti-big g’ment without belonging to any political party and, in fact, that’s called being small “l” libertarian.

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moT September 8, 2014 at 1:18 pm

Color me shocked. Did anyone notice that the US economy for the last 6 years has been most stagnant under Obama?

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Tom September 8, 2014 at 2:30 pm

No did not notice that. Read the article US economy is doing well,now. Slow recover was expected given the severity of the Bush Recession. Which Bernanke says affected more people than the Great Depression.

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Tom Is Dumb September 8, 2014 at 11:24 pm

92,000,000 Americans NOT working …… that’s real well, eh?
Wages are at 2003 levels …. that’s real well, eh?
Many Americans having to work 3 low wage jobs to survive … that’s real well too, eh?
DUMBASS.

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Jackie Chiles September 8, 2014 at 1:42 pm

Is it true that the bottom states also have large minority populations?

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Manray September 8, 2014 at 2:33 pm

Not in Maine, West Virginia and Idaho.

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Tom September 8, 2014 at 2:40 pm

So are you saying we should blame black people for the problems of this state. Haven’t we been doing that for 100 years?

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HAHAHAHA September 8, 2014 at 11:25 pm

You are a typical liberal cockroach. Where is the DNC headquarters in South Carolina?

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SCBlueWoman September 8, 2014 at 2:55 pm Reply
Bible Thumper September 8, 2014 at 1:55 pm

Those same states were at the bottom when there were all southern democrats were in office. Since 2011 (I did calculation since Haley took office) , Republican Governors have had a higher percentage job growth than Democrats.
When you judge Governors you should judge from where they started. Many of these states were already way behind when became Republican.

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Tom September 8, 2014 at 2:37 pm

So you point is modern Republicans who use to be Democrats, and then became Dixiecrats and then became Republicans, have screwed up the states they run no matter what they call themselves.

I hear you. So the only answer is to elect Democrats. Because real Democrats have never been given a chance.

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Bible Thumper September 8, 2014 at 2:54 pm

Since the end of the Civil War the South has always been behind, but the South has had greater GDP growth since Republicans took over while still being behind in per capita GDP. You can’t judge Republicans by how far they are behind, but if they have caught up. I did the calculations on a previous post from January 2011 when Haley took office and Republicans did better.

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Tom September 8, 2014 at 4:00 pm

Republicans have had control of this state for 20 years, and its worse now than it was 20 years ago. Republicans have been bitching that Obama has not pulled us out ot the Bush recession fast enough; well compared to SC Republicans he is moving at the speed of light.

Bible Thumper September 8, 2014 at 5:09 pm

No. Rhode Island, Michigan, Ohio, and Pennsylvania are worse.

All comparisons should be changes in a period of time with other states. Every state in the union except maybe North Dakota is worse off than a Decade ago. I don’t have time to do every time period. I do have a job. I compared from when Haley took office.

Yes South Carolina’s economy is one of the worst, but since Haley took office, South Carolina has had the 12th highest job growth as a percentage of Adult civilian population.
This is the third highest east of the Mississippi.

Using Adult civilian population removes the effect of declining WORK FORCE Participation which Will likes to harangue about.

Tom September 8, 2014 at 7:51 pm

I don’t have to consider any of that. I have lived in South Carolina my entire life. I know the average South Carolinian is worse off today than average South Carolinian was 20 years ago and 30 years ago. This state is going down hill, not up.

You see thats the problem with Republicans, to them we can look at gross numbers. We don’t have to look at the lives of the average guy or gal. Screw up the education of their kids, don’t repair the infrastructure, raise college tuition through the roof, Its all ok. We added 10000 new Walmart jobs.

Karolyn September 9, 2014 at 6:00 pm

Where are all those jobs?

Bible Thumper September 9, 2014 at 6:30 pm

I’m not saying things are good. I’m saying that we are improving very slowly, but better than most states and almost all state east of the Mississippi.
The whole country has gained only 750,000 jobs since 2007 when the adult population has grown 8,000,000. That is bad. Even since the depth of the recession, the job growth is only barely beating population growth. Many new jobs are part time and lower wage.
Haley is governing in that national economic environment. South Carolina is one of the poorest states, but has been improving faster than other states. She can’t influence the national economy. All she can do swim against the national tide.

Rocky September 8, 2014 at 4:26 pm

South Carolina has been republican for over 15 years.

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Manray September 8, 2014 at 2:29 pm

You are laboring under the delusion that the facts are relevant! In November the enlightened citizenry of SC will go to the polls and re-elect the same proponents of corruption and cronyism and then complain about how nothing ever seems to change.

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Tom September 8, 2014 at 2:33 pm

‘You are laboring under the delusion that the facts are relevant!”

No, I’m. not.

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Manray September 8, 2014 at 2:38 pm

They aren’t relevant at all! On November 4th, Haley and Republican majorities in both houses will be re-elected. Voters in SC are like abused spouses — they keep going back for more.

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Tom September 8, 2014 at 3:52 pm

Yes, the fact that I complain about Republican Policies that I think are a disaster and I think are holding this state back does not mean I think anything will change anytime soon. But there is always hope for the future.

FastEddy23 September 8, 2014 at 4:13 pm

“You are all laboring under the delusion that the government generated facts are relevant!”

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FastEddy23 September 8, 2014 at 3:40 pm

So, raising taxes might be a solution? How about just taxing republicans?

One can spin wheels all day long with “the blame that other party” game. I don’t know exactly why one would believe the [R] or the [D] have anything to do with this question. Of that five, three are historically [D] and the other two have recently converted to [D] or are split ~50/50, [D] v. [R].

The simple fact is that of those states at or near “the bottom” do have something interesting in common: all are historically and currently agriculturally oriented in significant part, and not very industrialized compared to the fat cat industrial states.

I agree with those who say the rich should be taxed much more than the poor …

… And that is why I say Abolish the IRS entirely. “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.” and that is as it should be.

But if the IRS is abolished who would do the collecting of taxes? How about the SEC? The Treasury Department could very easily make up any short falls with the loss of the IRS and could very, very easily collect more taxes from the rich: the bankers, the brokers, the money changers, the paper flippers.

FYI: The big five oil companies already pay more in an assortment of taxes into the Treasury than all personal income taxes combined.

It is axiomatic in business that the only difference between the democrats and the republicans is that the republicans stay bought.

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Limbaughsaphatkhunt September 8, 2014 at 5:38 pm

Let’s not let facts get in the way of good ole’ southern partisan politics. Besides, the people of S.C. seem to revel living in a pig shit state, vis a vis the GOP that runs the place.

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Inciteful September 8, 2014 at 11:52 am

Having a Director of Employment and Workforce who is committed to training our workers to do the jobs that are attracted to our right-to-work state would be a good start out of our doldrums. There are many good jobs and more coming that require a trained, manufacturing set of skills. The tools to get the training exist. But our SCDEW leader is busy tearing down this local workforce training infrastructure without a clue as to the damage to workers. Hopefully the personal lawsuit against her for bullying behavior will be successful. Many employees within SCDEW are taping all encounters with her. Her abusive behavior is hurting the department and hurting the state. But rest assured, her day will come.

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FastEddy23 September 8, 2014 at 1:49 pm

“… Having a Director of Employment and Workforce who is committed …”

State and fed government has had, what, six years since 2008, to get the economy headed up? So far the only jobs created by g’ment have been g’ment jobs.

EU, University of Madrid, Spain, Economics egghead reports even admit that every g’ment job kills three private sector jobs.

Public works contracts are no longer let to the private sector. This chisels away at private sector, small and medium business, by one third.

There is now only a single option left for the enterprising worker … hire on to g’ment for forget-about-it.

… And nothing will stop this downward economic spiral except a whooping big tax cut for the middle class, the consumers, the poor … or anyone else trying to get ahead.

G’ment can take care of itself without killing private sector jobs.

Abolish the IRS.

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Bible Thumper September 8, 2014 at 1:58 pm

102,016 jobs created in South Carolina since Haley took office.

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FastEddy23 September 9, 2014 at 12:27 pm

And they are all taxpayers, I’m sure.

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Where r u coming from? September 8, 2014 at 2:12 pm

The name? Incite as in to start a riot or Insight as to see within?

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Smirks September 8, 2014 at 11:57 am

It’s a great day in South Carolina, thanks to Mississippi.

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Tom September 8, 2014 at 7:34 pm

Thank god for Mississippi.

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idcydm September 8, 2014 at 12:02 pm

Business Insider, really. CEO and Editor-In-Chief Henry Blodget is a Yale
graduate who previously worked on Wall Street, then was fined
$2,000,000 as part of a civil suit for fraud, and another $2,000,000 in
disgorgement, and was censured and barred from the securities industry
by the Securities and Exchange Commission.

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Smirks September 8, 2014 at 12:29 pm Reply
idcydm September 8, 2014 at 12:46 pm

You’re not saying T-Rav, Blodget and Fits are three stooges are you?

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William September 8, 2014 at 12:33 pm

Is there a point to this or are you just following Carl Rove’s number one rule, “If you don’t like the subject attack the messenger.”

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idcydm September 8, 2014 at 12:42 pm

Everything on the internet is true.

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aikencounty September 8, 2014 at 12:16 pm

Geez, I wonder how NIMRATA can spin this, and blame it on the UNIONS!!!!!!!

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Smirks September 8, 2014 at 12:24 pm

Sandi must be on vacation this week.

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SC Political Digest September 8, 2014 at 2:18 pm

Maybe he’s finay given up on FITS. Go to SCPSD.

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Long Dong Silver September 8, 2014 at 3:45 pm

Sandi has been hospitalized for paranoia. Thinks FITS and others hacked his shit. Ahahaha!!

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SC Political Digest September 8, 2014 at 5:10 pm

Naw: Supporters of the NSA and the IRS would never do anything unscrupulous like that…would you????…LMAO….

Freddy September 8, 2014 at 1:10 pm

Nikki Haley shes our gal if she cant screw us nobody can…..

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Jamie Crater September 8, 2014 at 1:16 pm

The school systems are run by the NEA and other Union led organizations and our students are not educated well enough to do any better thank you!

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FastEddy23 September 8, 2014 at 1:54 pm

… and the new wrinkle? Common Core: another central planning boondoggle.

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nitrat September 8, 2014 at 3:28 pm

You do know we don’t have teacher or public employee unions in this state, by law, don’t you?
Tell me, Jamie, ignorant as you are, are you from SC?

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moT September 8, 2014 at 11:29 pm

Liberals are trolling

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Jackie Chiles September 8, 2014 at 1:41 pm

If only we eliminated all taxpayer subsidies, our economy would equal that of China!

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China Man September 8, 2014 at 2:18 pm

And their working conditions!

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moT September 8, 2014 at 11:29 pm

exactly.

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Rocky September 8, 2014 at 2:23 pm

Well this can’t be helpful. Let’s see if Vinny takes complete advantage of this.

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Bible Thumper September 8, 2014 at 2:43 pm

Yes South Carolina’s economy is one of the worst, but since Haley took office, South Carolina has had the 12 highest job growth as a percentage of Adult civilian population.
This is the third highest east of the Mississippi.

Using Adult civilian population removes the effect of declining WORK FORCE Participation which Will likes to harangue about.

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FastEddy23 September 8, 2014 at 3:58 pm

“… been down so long it looks like up to me …”

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CNSYD September 8, 2014 at 2:48 pm

Will the real Business Insider (BI) ranking please stand up. On August 4, 2014 BI issued a ranking of how state economies were doing. SC was number 8. Did Sic Willie report this? Of course not, as it would not fit his agenda. On September 8, 2014 BI issued a ranking of state economies worst to best. SC is in the bottom five. Of course Sic Willie is all over that. Now which is the REAL ranking? How were the metrics changed from one ranking to the other and why? Liars, damn liars, then statistics.

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Diogenes September 8, 2014 at 3:02 pm

Recent research shows that those people are happiest who expect the least out of life. South Carolinians have never had high aspirations, especially from their gov’t. officials. Since they don’t expect anything from them, and are conservative and adverse to change by nature, they have no problem continually re-electing the same old crowd. And are happy to do it.
“If you don’t expect anything, you won’t ever be disappointed.”

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Limbaughsaphatkhunt September 8, 2014 at 11:25 pm

I believe the term is “blissful ignorance”.

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Dumb and Poor Rocky September 8, 2014 at 4:30 pm

A fantastic critique of Nikki’s great job as governor. Dumb and poor. That’s her motto. And we should be against Common Core because let’s face it – we don’t want out kids to get smarter – dumb and poor. Let’s keep out unions and commie minimum wages, because heck, we want to keep ’em dumb and poor. School vouchers for the white kids, but the ones in poverty – let’s just keep ’em dumb and poor. There’s nothing wrong with working minimum wage cleaning toilets on I-26 – ’cause there’s always bliss in being dumb and poor. We ain’t rich, we ain’t too smart, but we’z happy.

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Torch September 8, 2014 at 7:55 pm

As we always say in SC, “Thank god for Mississippi”.

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moT September 8, 2014 at 11:27 pm

Meanwhile, unemployment – due to those who have given up on finding work – is actually around 18%.

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