A hopeful "Brand New Day" missive from this biz hype channel extols the virtues of higher taxes and the death of sketchy supply side economics. Sadly, state coffers tend to back up the premise and quite a few Republicans have also celebrated the end of Koch Bros. financial tyranny. Here's a reminder that that partisan politics only serve as a distraction to help more serious people make money. Read more:
The comeback state of 2019: Kansas economy rebounds from tax-cutting disaster
Kansas is running a budget surplus this year, and it is a big deal for the state, which saw revenue vanish in a disastrous tax-cutting experiment by former Gov. Sam Brownback. Kansas made the biggest move up CNBC's 2019 Top States for Business ranking, but its finances are not entirely in the clear.
Democratic Governor + Scared Shitless Republican Legislature = Balanced Budget!
ReplyDeleteWhat the GOP refuses to recognize is that their much-beloved "Trickle Down Economics Theory" has a point of diminishing returns.
The Laffer Curve they worship is a bell curve, indicating that there exists a level of taxation that provides the maximum amount of revenue to the Government. Until that point is reached, the Government does not receive the maximum amount possible, and when that point has been passed, the Government receives less revenue.
The "unmentionables" of the entire "Trickle Down Theory" are first, it doesn't give a shit about the citizenry, only about maximizing the tax receipts to the Government, and secondly, that the "Laffer Curve" has no numbers on it, meaning that the entire theory gives no guidance to any optimal levels of taxation in real life.
If there is any reality to the GOP Economic Theories, then Government has to thrash around blindly, trying to walk a razor's edge between reducing taxes to get re-elected and piling up deficits to provide necessary and desirable services to the Citizenry.
^^^^ EXCELLENT comment.
DeleteProbably some of the best commentary on the issue published anywhere in the Midwest. Damn good stuff. THIS is why TKC is part of my life. Nicely done 7:16.
Is the goal maximum government revenue?
ReplyDeleteThere is no such thing in economics as a trickle down theory.
ReplyDelete7:56, I agree that the goal should not be to maximize government revenues, but to encourage, or at least remove roadblocks from, robust private enterprise.
Dream on fools this story isn't showing all the truth of the matter but go ahead drink the Kool Aid.
ReplyDeleteTOP PHOTO -- TURN YOUR FACE TOWARDS THE SUN
ReplyDeleteAs Topeka burns, Granny Kelly laments:
Where you gonna go where you gonna go where you gonna run to
When you get to the edge of the night
Its time you face the sky!!!
The problem that Dems and Repubs won't acknowledge is that the biggest business in Kansas is Government and the biggest business in the United States is Government. If you want to get rid of Big Corporations and Business which 25 out of 25 Dems claim then reduce the size of government don't grow it more. That means local, county, state, federal all have to shrink in size. That means everyone needs to get a job that pays a living wage through their own capabilities and then take personal responsibility for their actions and the reactions.
ReplyDelete^^Ugh. Produce your ECON degree. Produce any degree for that matter. Your post reads as if a retarded third-grader wrote it. Please go away.
ReplyDeleteSelling Kansas has always been a tough job. The tax breaks were needed but now it's time to develop new tricks. You always have to adapt.
ReplyDelete