West Virginia Watch, Huntington Herald Dispatch – West Virginia lawmakers across the political spectrum tend to agree on the importance of prioritizing state policies that will expand our economy, increase incomes for families, and boost jobs. And understandably so, as the economy and cost of living are generally the top issues for their constituents and voters.
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And yet, for years in the Mountain State, our elected leaders have undercut this aim to grow the economy and wages by focusing on slashing taxes and catering to big businesses and industries, whether via deregulation or taxpayer handouts. New research affirms what the West Virginia Center on Budget and Policy has been warning for years: reducing tax rates doesn’t strengthen economies or raise households’ incomes, particularly when deep tax cuts and corporate handouts undermine our ability to provide the public services that families and businesses want and need — solid infrastructure, good schools, high-quality health care and safe communities.
Titled “Is Your State Better Off Now Than It Was Fifty Years Ago?” researchers at the Urban Institute looked at median household incomes in all 50 states between 1970 and 2023. Median household income is an important economic metric, as it reflects the relative prosperity of an area. They found that 49 states saw increases in inflation-adjusted median household income over the 50-plus year period.
