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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTax revenue in April dropped 45 percent from a year ago, the Kansas Department of Revenue announced
Pulling Back the Curtain on Sam Brownback's Kansas Financial MeltdownLet's review, shall we? First there was the bad news from Kansas:
TOPEKA -- Tax revenue in April dropped 45 percent from a year ago, the Kansas Department of Revenue announced Wednesday.
The state's revenue for the year is $92.9 million less than projected earlier this month....
Personal income tax revenue has decreased by $508 million compared with this point last fiscal year. That category also accounted for the discrepancy between Wednesday's numbers and estimates released earlier in the month. Income tax revenue was $89.6 million lower than expected.
This huge and escalating shortfall occurred after Kansas's right-wing Republican legislature and governor, Sam Brownback, enacted huge and foolish tax cuts, the result of which was--as Senate Minority Leader Anthony Hensley (D-Topeka) explained--to transfer the tax burden from the rich to the middle and lower classes. The revenue shortfall also led Moody's to downgrade Kansas's debt, something that will cost its citizens even more money over the coming years as they borrow to make up the lost revenue.
So, are Brownback and his fellow Republicans willing to say, "Oops, my bad!"?
(Three Guesses)
http://www.huffingtonpost.com/ian-reifowitz/sam-brownback-kansas_b_5310331.html
Archae
(46,314 posts)tridim
(45,358 posts)that the same, non-thinking Kansas voters will keep voting Republican no matter what. It's a reflex.
Katashi_itto
(10,175 posts)And then they will blame Dems for it.
madokie
(51,076 posts)lobodons
(1,290 posts)Even worse, our State legislature overrode our D Gov. on their similar budget. So even with a sane Gov. we here in MO are going to suffer the same credit down grade and budget shortfalls. (eyes roll)
LiberalArkie
(15,708 posts)get a third or fourth job, we would not have this shortage of revenue"
n2doc
(47,953 posts)That's the cause of it!
mountain grammy
(26,613 posts)without cutting taxes and spending. Brownback good, Obama bad. That's about it.
From the OP's link:
"For the people of those states, and for all 50 of our states, the question is this: When you go into the voting booth, do facts matter? Will you compare the record of conservatism and liberalism, and vote accordingly? It's up to progressives to make the case as strongly as we can. I believe that if we do, the voters will respond"
They have found one new stream of revenue.. stopping cars from Colorado and busting people for pot possession. Yeah, that'll help, going to war with your neighboring states...
essaynnc
(801 posts)Almost exactly. The R. leaders of the state decided on tax cuts, now they're wondering why we have a $450M shortfall this year. And they're promised the teachers a raise that will cost $250M. How's that gonna work out, boys?????
packman
(16,296 posts)Don't give it. Let the teachers bitch. Reps will convince the voters that they are educated, liberal snobs who get 3 months off in the summer and make, for the most part, above min. wage anyway.
This whole thing is a ridiculous cycle-Dems get in, have to increase taxes to hold things together, people get pissed with tax increases, vote Dems out, vote Reps in. They reduce taxes, everyone is happy for awhile until bridges fall down and crime goes up. They get pissed, vote Dems in who raise taxes to hold things together, etc., etc., etc.
The circle of politics.
toddwv
(2,830 posts)Benghazi!!!!!
okaawhatever
(9,461 posts)Vote for Democrats the party of real fiscal responsibility.
riqster
(13,986 posts)okaawhatever
(9,461 posts)people to "pay more, get less" or even "pay more, get the same" due to their machinations. The gov't shutdown (still one of the biggest hits the gop had to their popularity) the money spent for Benghazi investigations and ACA repeals, and the state gov's having their bond rating downgraded for no good reason, forcing state residents to pay more on interest for state debt. It all tells the same story, the gop is spending money and getting absolutely nothing in return except campaign donations for their dog and pony show.
riqster
(13,986 posts)Devil take the constituency.
NightWatcher
(39,343 posts)So time to take a big ol bong hit and enjoy the boost to the economy
Ed Suspicious
(8,879 posts)Lex
(34,108 posts)The Republican tax plan.
Ed Suspicious
(8,879 posts)blur256
(979 posts)And I choose to live on the Missouri side because of this guy. He gives huge tax breaks to corporations enticing them to move to the Kansas side, but he couldn't give a shit about the people actually living there. Oh, and he believes in creationism. He's a real piece of shit in my humble opinion.
EEO
(1,620 posts)Clearly somewhere math is not valued.
Ikonoklast
(23,973 posts)disastrous territory.
All you tax-hating libertarians, please take note.
This is what you get when you get what you want, economic ruin and destruction of a state's economy.
If these fuckers get bailed out by the taxpayers of my state through the federal government, I would see that as theft. Brownback gave that money to corporations, will want to steal taxes paid by those living in other states to run his state.
corkhead
(6,119 posts)don't they reside in KS?
The Velveteen Ocelot
(115,659 posts)Democrats, that's who. After they passed a tax increase on the highest earners last year, there's now a $1.2 billion budget surplus, of which $550 million will be refunded to taxpayers.
santamargarita
(3,170 posts)tclambert
(11,085 posts)"BUT WE CUT TAXES! (Not your taxes. Taxes for corporations and rich people . . .) BUT WE CUT TAXES!"
progressoid
(49,964 posts)If you cut taxes, then tax revenue drops?
Old and In the Way
(37,540 posts)Has there ever been an example where drastic tax cuts increase revenue? It's all about privitizing the profits and socializing the risks. This is how "free lunch" Republican economic theory operates.
bullwinkle428
(20,629 posts)in my lifetime (I just turned 50).
K&R.
DallasNE
(7,402 posts)Showing a range of outcomes from the proposed legislation so did they simply ignored them?
Did they think businesses would flock to Kansas to take advantage of low tax rates and the would grow the economy and offset the tax losses? Betting on the unknown and unproven is never a good idea.
What does Brownback propose as a correction to this obvious problem, push for those Keystone XL jobs? Those 75 temporary jobs should fix everything.