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Economist: U.S. at crossroads, Texas will see more business

by admin on October 23, 2012

The United States is at a major economic crossroads, and Texas has seen — and will continue to see — migration from businesses seeking lower taxes and greater economic freedoms, said a local economist.

“People want to escape the taxes of big government,” said W. Michael Cox, director of the William J. O’Neil Center for Global Markets and Freedom at Southern Methodist University. Those taxes, along with right-to-work laws, housing prices and schools are some of the reasons that businesses and people relocate to Texas, he said.

Cox was the featured speaker at Thursday morning’s North Texas Commercial Association of Realtors and Real Estate Professionals sixth annual economic forecast breakfast.

The big picture: Texas has deep roots in capitalism, where there’s an opportunity seen by businesses and workers, Cox said. Other states have unions that inhibit capitalism, he said.

“The socialist utopia is a failed system, only capitalism works,” said Cox, to an estimated 250 attendees at the real estate industry event. “Greed is an artifact of humanity, not capitalism.”

The country is at a crossroads, he said.

“We can’t keep going like this,” he said.

Link to Article in: Dallas Business Journal

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