Treasury Secretary Scott Bessent borrowed our line the other day, so you know he has it exactly right:

“I lived in New York. I lived in Florida. And the state of New York spends about $235 billion a year. The state of Florida spends about $125 billion. Both states have approximately the same number of people but Florida doesn’t have an income tax. And I can tell you having lived in both, it’s better not to have an income tax and Florida gives better services. So we want the U.S. to be more like Florida, less like New York.”