How Wyoming Stacked Up: Insights from the Rich States, Poor States Report - Wednesday, 05 June 2024
To view the full report, Click Here.
The "Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index" is an annual report published by the American Legislative Exchange Council (ALEC) Center for State Fiscal Reform. It ranks states' economic competitiveness using fifteen equally weighted policy variables, including various tax rates, regulatory burdens, and labor policies. The report tracks the latest movements in state economic growth and offers an online companion tool at RichStatesPoorStates.org.
Fifteen equally weighted policy variables determine the economic outlook scores. Those variables are
Top Marginal Personal Income Tax Rate
Top Marginal Corporate Income Tax Rate
Personal Income Tax Progressivity
Property Tax Burden
Sales Tax Burden
Remaining Tax Burden
Estate / Inheritance Tax Levied?
Recently Legislated Tax Changes
Debt Service as a Share of Tax Revenue
Public Employees Per 10,000 of Population
State Liability System Survey
State Minimum Wage
Average Workers' Compensation Costs
Right-to-Work State?
Tax Expenditure Limits
Here is how Wyoming ranked overall:
Areas we ranked 1st:
Top Marginal Personal Income Tax Rate
Top Marginal Corporate Income Tax Rate
Estate / Inheritance Tax Levied?
Debt Service as a Share of Tax Revenue
State Minimum Wage
Right-to-Work State?
Where did we come in at 50th:
Public Employees Per 10,000 of Population
Wyoming's ranking as 50th with 854.3 public employees per 10,000 residents underscores the need to reduce state spending by downsizing the size of our state government. This high proportion of state employees suggests inefficiencies that strain the state budget and divert resources from more productive uses. By streamlining the government workforce, Wyoming can enhance its economic competitiveness, reduce tax burdens, and allocate resources more effectively to promote growth and prosperity.