Georgia’s Anemic Job Growth

Southeastern Job Growth
2019 JobsTotal Jobs% Growth
Florida21200091040002.33%
Alabama4570021033002.17%
North Carolina9390045936002.04%
Tennessee4920031365001.57%
Georgia6670046537001.43%
South Carolina2720021937001.24%

While Georgia may have the second largest number of jobs relative to it’s neighboring states, the rate of job growth has Georgia only beating South Carolina.

As our tax burdens continue to increase in Georgia, and we work to attract more and more bodies to Georgia, we need to ask ourselves if we have are already being taxed at a level that is slowing business development.

Or we can just keep increasing the tax burden and hope for a better tomorrow.

5 thoughts on “Georgia’s Anemic Job Growth

    • Unfortunately that 1% reduction on taxes of your earnings pales in comparison to the tax increases you are paying in other areas within Georgia.

  1. Fortunately, the S&P 500 rising 400% since 2009 bottom, 60% since 2016 election and 29% in 2019 alone makes up for the other tax increases.

    For example, Since TSPLOST was voted in, the S&P 500 is 60% higher (it had already risen 250% from the 2009 bottom thru election day 2016). An older resident with a One Million Dollar portfolio would have gained $600,000 since election day. A younger resident with a $100,000 portfolio would have gained $60,000 in that time period.

    The taxes people focus on pale in comparison to how their net worth could grow if they live below their means and invest properly.

    • It is a dangerous thing to run your comparisons by averages.

      Do you really believe all older Americans have 1,000,000 portfolios? Or just some older Americans.

      Do you really believe all younger residents have 100,000 in portfolios? Or just some younger Americans?

      How do you feel the older and younger Americans without those assets are doing with the higher taxes?

      With the higher and higher deficits in America, and with the largest level of unfunded pension liabilities in US history, despite the rising markets, where will the funds come from to pay those liabilities?

      Assets do not grow just for the sake of growing. Markets have never been priced this expensively especially with an economy that is barely growing 2% per year.

      And what happens when the markets fall? Or have you ruled out any possibility of that happening? Corporate profits in total dollars are at 2012 levels. At some point in the not too distant future, stock prices will reflect that. As will your hypothetical portfolios that every has.

    • “According to the Federal Reserve, the average net worth for Americans between the ages of 65 and 74 is $1,066,000, however, the median net worth is $224,000.”

      These numbers include the value of their homes,and so these numbers do not represent investment portfolios only.

      So half of older Americans have less than $224,000 in net worth and half have more than $244,000. That is a far cry from the scenario you have tried to depict.

      Source: https://turbo.intuit.com/blog/real-money-talk/net-worth-by-age-704/

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