4 ms·
GDP per capita is meaningless in the US bro. It's literally a cooked number that holds up big capitalists making money "in the state" from extraction of natural
by CuriouslyC 5mo ago
GDP per capita is meaningless in the US bro. It's literally a cooked number that holds up big capitalists making money "in the state" from extraction of natural resources, but that money isn't staying in LA.
Drive through LA and those places you mentioned and you'll see it.
Also, use PPP.
- BLKNSLVR 5mo ago"A large amount of wealth is consistently and regularly extracted from Louisiana"
- selimthegrim 5mo agoLouisiana has no severance tax. There are certain arrangements with trust funds for offshore oil that were enacted in the 50s and 60s.
- sarchertech 5mo agoIf we are talking about resources available to the state we can look directly at tax revenue. https://taxfoundation.org/data/all/state/state-local-tax-collections-per-capita/ https://taxfoundation.org/data/all/state/state-local-tax-col... Louisiana is 32nd for tax revue per capita.
- Danox 5mo agoAnd like most oil producing areas that money never sees/sticks to the bottom end. Basically like a gold rush town when it’s over it’s over.
- sarchertech 5mo agoLouisiana only pumps about 3-4% of the total crude oil that the US produces. The money in Louisiana is primarily in refining oil pumped elsewhere. There are definitely externalities that big oil unloads on the people of Louisiana, but the refineries inject a lot of money into the community.
- sarchertech 5mo agoWe’re talking about the state and local government not that poor people exist in Louisiana. https://taxfoundation.org/data/all/state/state-local-tax-collections-per-capita/ https://taxfoundation.org/data/all/state/state-local-tax-col... Louisiana is 32nd for tax revue per capita.