Kansas Economy Craters, Revenues down 45% as Brownback Blames Obama

Discussion in 'Current Events' started by PeppermintTwist, May 19, 2014.

  1. PeppermintTwist

    PeppermintTwist Well-Known Member Past Donor

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    Oh yes, the good old reliable trickle down voodoo. Who would have guessed? :roll:
     
  2. Lee S

    Lee S Moderator Staff Member Past Donor

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    Crooksandliars.com? Nope, I'm not seeing a credibility problem there. I am sure it is God's honest truth. Can you find the same story on somewhere which may be slightly more believable, like DailyKos or MSNBC?
     
  3. PeppermintTwist

    PeppermintTwist Well-Known Member Past Donor

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    What exactly or you denying? That the Kansas economy is tanking or that it's not the right wings fault due to the voodo that they do so well?

    Citing a sluggish recovery from the recession, risk inherent in the governor’s tax plan and uncertainty over the Legislature’s ability to keep cutting spending, one of the nation’s two major debt rating agencies downgraded Kansas’ credit rating Thursday.

    Moody’s Investors Service dropped Kansas from its second-highest bond rating, Aa1, to its third highest, Aa2. The Kansas Department of Transportation also took the same downgrade.


    http://thedailybanter.com/2014/05/conservatives-have-free-reign-in-kansas-its-failing/

    Republican governor's tax breaks causing budget deficits

    In another blow to the legitimacy of trickle-down economics, Republican governors are proving that giving more money to the rich does not create jobs. In fact, it’s causing budget deficits and credit downgrades.

    Kansas is among the states facing a massive loss of revenue since Republican Gov. Brownback decided to give away the store, as far as tax cuts are concerned. On Wednesday, the Kansas Department of Revenue announced that the state has lost $92.9 million so far, and it could get worse as the year progresses.

    http://www.examiner.com/article/rep...aks-causing-budget-deficits-credit-downgrades

    Google is your friend.
     
  4. Checkm8r

    Checkm8r New Member

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    And how are states that have NO INCOME TAXES doing?

    Say, like Texas...or Florida?
     
  5. Fangbeer

    Fangbeer Well-Known Member Past Donor

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    Better yet, by what process do higher taxes spur economic growth?
     
  6. Lee S

    Lee S Moderator Staff Member Past Donor

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    I am denying the fact that you come up with a real link to a legitimate source. You could have, with little or no effort, come up with this link:

    http://www.kansas.com/2014/04/30/3431703/kansas-revenues-off-92-million.html

    Of course, all this rhetoric ignores the fact that prior to the 2013 tax cuts, Kansas was on a decidedly downward projection and doing nothing was not an option:

    http://www.forbes.com/sites/rexsinq...ed-missouri-on-tax-cuts-and-showed-the-region

    73% of all Kansas Counties were showing a population loss. Less population means less tax revenues. Something had to be done or the problem would only get worse. The only question is whether Kansas has set itself up for a better future or it held the status quo and slowly died.

    I also deny that the tax cuts were for the rich or in any form trickle down. Kansas enacted across the board tax cuts which favored the poorest in Kansas and they eliminated small business income tax which is anti-corporate.
     
  7. AlphaOmega

    AlphaOmega Well-Known Member Past Donor

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    Yes everyone knows higher taxes works wayyyy better. Small business drives the economy. Its as simple as that. When you tax them, they wane or at the very least they don't grow. (That means they don't hire people) For example a restaurant owner may be able to open another restaurant if he is given certain tax incentives. This creates jobs and more revenue for the nation. When you tax them more they tend not to open that other restaurant and in fact they may cut employees to pay for things like increased healthcare.
    Also, Democrats are in charge now. To blame republicans for this disaster after 6 years is laughable. Sorry this onus is all on you guys. The more companies hiring the more demand and subsequent competition for employees. (That means higher salaries) In you world its exactly opposite.
     

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