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to the Wall Street Journal's report. And those red state neighbors are in no big rush to follow their fellow Republicans in Kansas down the supply side tax cutting path to budget trouble.Oklahoma's treasurer Ken Miller, also a Republican, told the Journal, "Sometimes ideological experiments bring unintended outcomes. I think Kansas is seeing that and it serves as a reminder for the rest of us."In Prada Bags Fall 2017 Nebraska, Republican state Sen. Paul Schumacher agreed, telling the Journal, "Everything we were hearing out of Kansas is what they did is probably something we shouldn't want to rush into."Kansas Gov. Brownback says just wait some day that ship with bigger tax collections will come in.He told the Wall Street Journal: "The left in the country desperately wants this to fail. They want to say, 'You can't cut taxes and grow your way out of things.' "Uh, it's not "the left" saying that. It's reality.But to those who've drunk the conservative supply side economic Kool Aid, reality is just a pesky phenomenon to be explained away. Ideology rules the day. They're right and no amount of evidence can prove them wrong.Thank goodness none of the leaders wrestling with Pennsylvania's budget are ideologically intoxicated enough to advocate following Kansas's magical misadventure in conservative economics.
Pennsylvania is not the only state suffering big budget troubles because it is collecting less money than it expected.One state is getting special attention because it embraced the beloved conservative proposition that cutting taxes actually increases government revenue.At the urging of Republican Gov. Sam Brownback, Kansas slashed its income tax rates, trimmed its sales tax rate, and eliminated a tax on Burberry Dk88 Men
is eating up its financial reserves to the point that the investors service Moody's has downgraded the state's debt rating.As the Wall Street Journal summed it up, "Kansas faces plunging revenue, dwindling [financial] reserves and a rare debt downgrade." Finances are so tight, Kansas has had to delay paying tax refunds.Kansas officials say income tax collections fell, because the previous year, taxable income had an unusual spike upward, as investors rushed to beat a federal tax increase and booked big profits before rates went up.Nice try. That explains part of the drop, but every state with an income tax endured the same tax acceleration phenomenon. Somehow, in the following year, collections in some states went up anyway, while Kansas was one of the three states seeing the biggest income tax drop 24 percent. According to an analysis by the Rockefeller Institute, only Ohio and North Dakota, states that also cut their top income tax rates, saw a bigger decrease.Despite giving up so much tax money, Kansas has job growth that is about the same as its neighbors, according Burberry Bag Guy
is not planning to repeat this state's supply
small business income, all with the promise of more tax cuts to come.The results will shock no one outside the reality free air of conservative think tanks, where no amount of evidence is enough to disprove fundamental articles of economic faith.After that tax cutting binge, Kansas has seen state revenue go down. Way down.In the first 11 months of the fiscal year, Kansas saw its revenue fall by $685 million, or 12 percent, according to the Wall Street Journal.To fill the resulting budget gap, Kansas Burberry Bags For Sale
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