The Kansas legislature finally put a stop to the predictably failed trickle-down tax-cut experiment it began in 2012.
Kansas Gov. Sam Brownback (R) had vetoed a bill that partially reset income-tax rates to where they were before the cuts and closed a huge loophole — importantly, one mimicked in President Trump’s tax plan. But on Tuesday, lawmakers overrode the governor’s veto.
They didn’t have much of a choice. Based on their fiscal outlook — the state faces a $900 million shortfall — Kansas’s bond rating has been downgraded twice by two rating agencies. The state has burned through its reserves.
Jesus, a nine million dollar shortfall. That is an almost Biblical catastrophe to fall on such a small state.
And it exists solely because Republicans do not understand economics.
Something to keep in mind, as the author points out, is that this is exactly the kind of trickle down approach to the federal budget that Donald Trump and the Republicans would like to inflict on the American people.
Which means that the Trump budget must be rejected just as his Secretary of Education's budget was rejected the other day.
Jesus, a nine million dollar shortfall. That is an almost Biblical catastrophe to fall on such a small state.
ReplyDeleteThat should be 900 million $ shortfall.
Brownback's wet dream was designed by koch bros and A. Laffer if I remember correctly. It was designed to benefit koch bros and A Laffer as well.
It was a colossally ill-conceived DUMB idea when "saint" Reagan adopted it thirty years ago. I'm supposed to feel sorry for them?
ReplyDeleteAnd yet they still keep doing it over and over.
DeleteThe is the heart of Trump's tax reform plan.
Maybe if the voters in Kansas feel enough pain they will vote out the R's.
ReplyDeleteNah, who am I kidding ... the fools will still vote for these fools.
Do you think that we have NOT tried to vote the trickle downers out?! Kobach (captain voter fraud and illegals) is running for Gov.....so we need a good Dem to run against him. We did vote in enough moderates to attempt to fix the damages done....but being Trumped is worse than what happened in Brownbackistan.
DeleteAs long as they are anti choice, they will always vote R. It's the only issue they care about.
DeleteLike Rick Perry, the glasses still don't make him smart.
ReplyDeleteBird Brain
Not to worry. The King of Voter Suppression is running for governor and he vows to put those tax cuts right back where they belong.
ReplyDeletehttps://www.yahoo.com/news/kris-kobach-apos-king-voter-205951725.html