Idiot Economics – Cutting Taxes, Shrinking Government, = Total Failure

As Trump Proposes Tax Cuts, Kansas Deals With Aftermath Of Experiment

 In 2012, Republican Gov. Sam Brownback of Kansas pushed reforms through the Legislature that included across-the-board income tax reductions. But rather than boosting the economy, the cuts caused revenues to plummet. Lawmakers now seek to close a $900 million budget gap over the next two years.  Charlie Riedel/AP

Kansas Gov. Sam Brownback is notorious for what is known as the Kansas experiment, a bold effort to assert the power of limited government.

In 2012, the Republican governor pushed reforms through the state Legislature that dramatically cut income taxes across the board. Brownback boasted the plan would deliver a “shot of adrenaline” to the Kansas economy.

But the opposite happened.

Revenues shrank, and the economy grew more slowly than in neighboring states and the country as a whole. Kansas’ bond rating plummeted, and the state cut funding to education and infrastructure.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *