Sunday, April 26, 2015

Kansas Poor May Fund Even More Tax Breaks For The Rich

This goes back to my Frat-Boy Sex Theory of Economics: If trickle-down economics doesn't get the desired results the first time, you have to do it Harder! Faster! Longer! Via the Washington Post:

Wealthier Kansans are paying much less in taxes after Republican Gov. Sam Brownback overhauled the state's income tax a few years ago. Brownback and other Republican officials hoped that more generous policies would stimulate the economy, bringing more revenue into the state's coffers and making up the difference on the bottom line.

It didn't work. Kansas's economy has kept expanding at more or less same plodding pace as the rest of the country. And now, according to official estimates released Monday, the state will have at least a $143 million budget shortfall in 2016, and likely more. Lawmakers are looking for a way to plug the hole.

One thing they're not considering: asking the wealthy to chip in.  READ MORE

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