- Sep 23, 2013
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Brownback comes into the governor's seat in 2011 and the state of Kansas has a budget "surplus" doing relatively well during the global recession.
During this time Kansas had 2 democratic governors with a Republican Legislature. The state enacted a number of spending cuts and also a small tax increase, the result was the surplus.
Brownback comes in and gives rich people a tax cut from 6.5% to 4.9% on state income tax for the highest bracket of earners, and entirely removes state income taxes for businesses. He also eliminates the mortgage interest deductions entirely, something that benefits the middle class hugely.
So then obviously after the huge tax cuts you have to cut spending, so Brownback cuts education spending tremendously.
Okay, so rich people have more money and public schools are in shambles...BUT!!! this is "Trickle down" economics in work!! The job growth is gonna SURGE ahead and create so much government revenue they'll have an even bigger surplus right??? Cause that's the miracle of Reaganomics right???
Not quite...
Kansas's job growth during Brownback's cuts has lagged well below the rest of the country, 37th out of 50 to be exact, and it's been over two years since the cuts were enacted. Also the budget has gone into deficit with a $700 million shortfall. Moody's has cut the Kansas credit rating if you need further proof. Nothing is showing this is going to turn around anytime soon.
Brownback is trailing a democratic challenger for his election 2014 now, with 5 different polls showing Davis (D) in the lead.
So how does the GOP explain this failure of the Amazing Trickle Down Miracle? How can they possibly sell their economics with examples like this?
During this time Kansas had 2 democratic governors with a Republican Legislature. The state enacted a number of spending cuts and also a small tax increase, the result was the surplus.
Brownback comes in and gives rich people a tax cut from 6.5% to 4.9% on state income tax for the highest bracket of earners, and entirely removes state income taxes for businesses. He also eliminates the mortgage interest deductions entirely, something that benefits the middle class hugely.
So then obviously after the huge tax cuts you have to cut spending, so Brownback cuts education spending tremendously.
Okay, so rich people have more money and public schools are in shambles...BUT!!! this is "Trickle down" economics in work!! The job growth is gonna SURGE ahead and create so much government revenue they'll have an even bigger surplus right??? Cause that's the miracle of Reaganomics right???
Not quite...
Kansas's job growth during Brownback's cuts has lagged well below the rest of the country, 37th out of 50 to be exact, and it's been over two years since the cuts were enacted. Also the budget has gone into deficit with a $700 million shortfall. Moody's has cut the Kansas credit rating if you need further proof. Nothing is showing this is going to turn around anytime soon.
Brownback is trailing a democratic challenger for his election 2014 now, with 5 different polls showing Davis (D) in the lead.
So how does the GOP explain this failure of the Amazing Trickle Down Miracle? How can they possibly sell their economics with examples like this?