Kansas Is Totally Screwed
GOP math is hilarious… in a tragic, people starving, government shutting down sorta way.
In 2012, when Kansas Gov. Sam Brownback first pitched his plan to drastically slash the state's income taxes, he promised "a shot of adrenaline into the heart of the Kansas economy." Brownback brought in Arthur Laffer, Ronald Reagan's trickle-down economics guru, to help sell the idea that the cuts—which zeroed out taxes for 200,000 businesses and slashed rates for top earners—were guaranteed to boost the state's fortunes, prop up the economy, and bring in countless new jobs as businesses and individuals flocked to Kansas to escape the tyrannies of higher-tax states.
Two years later, those rosy predictions have turned to doom and gloom. Next week, when the state legislature kicks off its new session, lawmakers will face a daunting budget deficit that will require either overturning Brownback's tax cuts or shaving hundreds of millions from the state's budget. A recent string of court cases mandating increased funds for education will make that job trickier. Thanks to Brownback's efforts to transform the state into the Koch brothers' dreamland, Kansas is now mired in a fiscal disaster.
Unlike the federal government, which can leave deficits on its books, state governments have to keep their budgets balanced from year to year. Throughout 2014, monthly tax revenues in Kansas came in far below expectations. Tax revenue in December alone came in $15 million below target.
GOP math is hilarious… in a tragic, people starving, government shutting down sorta way.