Trillionaire Elon Musk Inspires Kansas Think Tank: Tax The Poor!!!

Actually . . . Most taxpayers probably agree with spending cuts proposed by conservatives . . . However . . . For anybody who does the math here . . . In a recent post, what Sunflower State activists are REALLY saying is that the poor need to pay more taxes . . . And that kind of talk might make sense on paper but it also explains why Rep. Sharice Davids keeps beating the GOP. 

The bigger problem:

The public and GenZ have widely adopted the idea that THE RICH HORDE WEALTH and no longer seem to believe in the promise of American social mobility. The rise of gig work and fewer jobs that pay a livable wage reinforce this idea. 

Moreover . . . Growing class-resentment isn't always such a bad thing . . . So many Americans once believed they would join the ranks of the elite and super-rich have wisely abandoned those fantasies in defense against constant Internets scams and financial rug pulls . . .

 And whilst many of those same folks adopted the equally frivolous belief that political activism might solve their economic burdens . . . There's an opportunity to educate voters on the reality of how public policy influences the lives of wage earners. 

And so  . . . Overall we think that the perspective of tax fighters deserves attention . . .  Here's some of what they have to say . . .  

Beginning at $200,000 and above, the share of income tax exceeds the share of income.

Kansas Policy Institute CEO Dave Trabert writes that Kansas’ modest tax reduction in 2024 shows what’s possible, but more reforms are needed for the state to become competitive in its region:

“One big feature of the 2024 tax reform in Kansas – exempting some income from taxation with larger standard deductions – completely wiped out the income tax liability for those with incomes below $25,000. They paid $22 million in income tax in 2020, but that fell to an $11 million credit in 2024, reducing their effective tax rate (ETR) from 0.4% to negative 0.3%.

“The effective tax rate (tax liability divided by KAGI) dropped from 2.5% to 2.2% for those with incomes between $25,000 and $50,000. The next three brackets in the above table each enjoyed a decline of 0.1% in their effective tax rate. Those with incomes over $250,000 paid the highest ETR of 4.2%, which was the same as in 2020.

“The 2024 rate reductions helped, but Kansas income tax rates are still uncompetitive, which has a lot to do with Kansas losing population from domestic migration."

Read more via www.TonysKansasCity.com link . . .

KPI study: Wealthy Kansans already pay more than their "fair share" of income taxes - The Sentinel

Wealthy taxpayers pay their fair share, paying a higher portion of the total income tax relative to their share of income.