"I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents."-- James Madison,
Texas had a gross state product (GSP) of $1.09 trillion, the second highest in the U.S.[129][130] Its GSP is comparable to the GDP of India or Canada which are ranked 12th and 11th worldwide. Texas's economy is the third largest in the world of country subdivisions behind California and Tokyo Prefecture. Its Per Capita personal income in 2007 was $37,083, ranking 22nd in the nation. Texas's large population, abundance of natural resources, and diverse population and geography have led to a large and diverse economy. Since oil was discovered, the state's economy has reflected the state of the petroleum industry. In recent times, urban centers of the state have increased in size, containing two-thirds of the population in 2005. The state's economic growth has led to excessive urban sprawl and its associated symptoms.[131]
Texas has a "low taxes, low services" reputation.[120] According to the Tax Foundation, Texans' state and local tax burdens rank among the lowest in the nation, 7th lowest nationally; state and local taxes cost $3,580 per capita, or 8.7% of resident incomes.[132] Texas is one of six states that lack a state income tax.[132][133] Instead, the state collects revenue from a state sales tax, which is charged at the rate of 6.25%.[132] Texas is a "tax donor state"; in 2005, for every dollar Texans paid to the federal government in federal income taxes, the state received approximately $0.94 in benefits.[132]
In 2004, Site Selection Magazine ranked Texas as the most business friendly state in the nation. This ranking stems in part from the state's three-billion-dollar Texas Enterprise Fund.[134] The state holds the most Fortune 500 company headquarters in the United States
I have a fondness for Texas especially San Antonio, my brother live there. The best mexican food I have ever had is there and it's one of the most beautiful cities I've had the pleasure of visiting. One of the things that stuck me about Texas is the pride it's residents have in their state and they call themselves Texans first as it should be. One of the things that stikes me most about Texas is that it always reminds me of the fact that this nation is a compact of states and Texas embodies that concept more than any other state including my own.
Texas had a gross state product (GSP) of $1.09 trillion, the second highest in the U.S.[129][130] Its GSP is comparable to the GDP of India or Canada which are ranked 12th and 11th worldwide. Texas's economy is the third largest in the world of country subdivisions behind California and Tokyo Prefecture. Its Per Capita personal income in 2007 was $37,083, ranking 22nd in the nation. Texas's large population, abundance of natural resources, and diverse population and geography have led to a large and diverse economy. Since oil was discovered, the state's economy has reflected the state of the petroleum industry. In recent times, urban centers of the state have increased in size, containing two-thirds of the population in 2005. The state's economic growth has led to excessive urban sprawl and its associated symptoms.[131]
Texas has a "low taxes, low services" reputation.[120] According to the Tax Foundation, Texans' state and local tax burdens rank among the lowest in the nation, 7th lowest nationally; state and local taxes cost $3,580 per capita, or 8.7% of resident incomes.[132] Texas is one of six states that lack a state income tax.[132][133] Instead, the state collects revenue from a state sales tax, which is charged at the rate of 6.25%.[132] Texas is a "tax donor state"; in 2005, for every dollar Texans paid to the federal government in federal income taxes, the state received approximately $0.94 in benefits.[132]
In 2004, Site Selection Magazine ranked Texas as the most business friendly state in the nation. This ranking stems in part from the state's three-billion-dollar Texas Enterprise Fund.[134] The state holds the most Fortune 500 company headquarters in the United States
I have a fondness for Texas especially San Antonio, my brother live there. The best mexican food I have ever had is there and it's one of the most beautiful cities I've had the pleasure of visiting. One of the things that stuck me about Texas is the pride it's residents have in their state and they call themselves Texans first as it should be. One of the things that stikes me most about Texas is that it always reminds me of the fact that this nation is a compact of states and Texas embodies that concept more than any other state including my own.