Sunday, January 4, 2015

The Big Failure: Kansas' austerity fiscal policy.

According to the Kansas City Star columnist Yael T. Abouhalkah, Gov. Sam Brownback's much touted tax cut/spending cut fiscal policy that was supposed to work miracles for Kansas' economy -- has instead proved, once again, the wrongness of austerity in such economic times.

"Instead, Brownback — and residents — have been enduring a steady drumbeat of bad news after the cuts took effect. This week, a 31-hour stretch brought three different body blows to Brownback’s administration.

"▪ At 9 a.m. Tuesday, the federal Bureau of Labor Statistics released a report showing how jobs had grown in metropolitan areas across America.  Unfortunately for Brownback, the report showed that the Missouri side of the state line had gained jobs at four times the rate of the Kansas side. . . .   So much for Brownback’s promise that jobs would be fleeing Missouri-side cities for Kansas after the tax cuts.


Read more here: http://www.kansascity.com/opinion/opn-columns-blogs/yael-t-abouhalkah/article5332056.html#storylink=cpy
"▪ Shortly after noon Tuesday, a judicial panel in Shawnee County released a ruling that Kansas was inadequately funding K-12 education.  That could mean the state would need to pump in $500 million extra a year or more to bring schools up to par . . . [at a time when] income tax cuts are on pace to help cause a $1.1 billion hole in revenues in this and the next fiscal year. . . . 

"▪ Finally, on Wednesday afternoon, Kansas officials released figures showing the state had collected $15 million less than expected in December. And that was after the state in November had dramatically lowered revenue expectations for the rest of this fiscal year. . ."

Explain to me again why it was that Kansas voters just re-elected Brownback for another term.

The cold truth is that it's nice to have your tax bill go down . . .  but there are some things that really are worth paying to have.

Ralph

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