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Showing Original Post only (View all)Something weird has happened to Kansas... [View all]
Kansas, the Taxpayer's Paradise...
Chris Hayes just had a segment about Kansas and how they were doing since they cut income taxes to the lowest in the nation. Senator Sam Brownback, the truest believer in supply-side taxcuts, is in political trouble because his state is now in deep financial trouble. Last year, they had $700 million less in revenues than the year before. Small communities are closing their schools. The poorest people are asked to give up some of their tax breaks to raise a little revenue. Kansas is in deep trouble.
Brownback attempted to put the theory of lower tax rates create magic in the economy into practice and it has failed miserably. He has put Kansas into a deep recession with his supply-side theories. It has failed miserably and there is no one else to blame.