Part 5/12:
Observations point to a fundamental problem: many policymakers lack economic literacy. This has led to a series of counterproductive policies proposed and enforced despite clear warnings of their negative impacts. Some legislators, including the state's only self-described socialist in the House, continue to promote misguided ideas such as blaming Donald Trump or big business for the state's financial woes, despite historical evidence to the contrary.
The decline in revenue from failed policies like the payroll tax exemplifies the shortsightedness of these decisions. As companies exit or reduce operations, the state’s financial reserves dwindle, pushing officials to consider newer, more damaging measures. The outcome? A shrinking tax base and worsening economic conditions.