Saturday, September 30, 2017

Trump Kansas Experiment Part Deux???

Another examination for debt and deficit tax policy coming to the entire nation. Read more:

Trump's Tax Plan Has Echoes Of The Kansas Tax Cut Experiment

Members of Congress might want to familiarize themselves with the story of Kansas' failed tax-cutting experiment as they begin deliberations on President Donald Trump's tax-reform plan. It could serve as a cautionary tale because some elements of the president's updated proposal mirror pieces of the tax-cut plan that Republican Gov.

15 Comments:

Anonymous said...

big difference between kansas and federal government, brownback cut taxes but didn't cut spending and couldn't make ends meet. the federal government doesn't have to make ends meet, they borrow and spend, borrow and spend, borrow and spend........that's why the federal debt is now $20,000,000,000,000.

http://www.usdebtclock.org/

Anonymous said...

Cash grab for the uber-rich, nothing else. This had been proven over and over trickle down simply does not happen. The rich pocket the cash, they don't invest it or hire more people. This has been proven repeatedly.

Anonymous said...

8:00 the 20 Trillion is not a problem

It will never be paid back.

Eventually economic depression and inflation will wipe it out.

Anonymous said...

Brownback has been a great Governor. Don't let the teachers tell you otherwise.

Anonymous said...

Notice how the folks who pay little to no taxes are the ones that bitch the most about tax cuts? Must be a hand out thing!

Anonymous said...

^^^^^^^^^ Damn good point

Anonymous said...

8:06, by "pocket the cash" do you mean they literally take their tax savings in physical money (notes and coins) and insert it into a pocket of their clothing? Because if not, anything they do with the money (bank deposit, buy mutual funds or stocks, etc.) is an investment. The bank then loans the money out at interest to (usually local) businesses and start-ups, creating economic activity that would not occur otherwise.

8:39, you conveniently forget about the amount Uncle Sam has to pay out every year as debt service. All else equal, as the amount of debt rises, so do debt service costs. You suggest we repay the debt with devalued money? The minute we do that, the dollar ceases to be the world's safest currency, and the investors who now buy our debt for that reason will look elsewhere.

Anonymous said...

Funny trickle down doesn't work but income redistribution does?

Anonymous said...

According to the Tax Policy Center Trump's tax cut would give each millionaire an average of $200,000 financed on the backs of the middle class. In the first decade alone of the tax cuts it would increase the federal deficit 2.4 TRILLIAN dollars. Real wages in this country have not risen since the early 70's but keep buying the lie. Name one time, one, where tax plans like this created jobs.

Anonymous said...

5:48, supply side economics have caused prolonged economic growth in the mid 1920s, the early 1960s and the 1980s.

I will not look it up, but I doubt what you say is what the left wing Tax Policy Center said. If it is, they're morons.

Anonymous said...

6:44, what you do not mention is that supply side economics also gave us major Depressions in the 1920s, 1980 and 2008. The only thing that prevented such an adjustment in the 1960s was the Vietnam War.

There is an oft quoted definition of Insanity as "doing the same thing over and over, but expecting a different result". Reaganomics, i.e. cutting taxes on the Wealthy in order to produce jobs and the resulting economic growth, has not worked for the last 36 years, but the GOP tells us it will work this time! Maybe it will, but most of us will have to see it to believe it.

Anonymous said...

If rubes can't do the math on how gaining a $12K increased deduction at the expense of a $4100 per person lost of exemptions, they deserve to get hosed.

YES, Trump's plan is all about helping the little guy. Ask Tom Price.

Anonymous said...

Stupid is as stupid does.

Sure, I believe in a tax plan from a tax cheat who admits he has been under audit for decades.

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