Huge tax cuts!

[Some dued]

Cause huge budget shortfalls!

It's the end of the road for the GOP's big tax experiment in Kansas
http://www.latimes.com/nation/la-na-kansas-tax-20170607-story.html

[Futbol Phan]

Kansas was the purest example of this economic philosophy. And virtually everyone agrees it failed miserably. Brownback wants more time for the policy to show benefits, which would probably drive the state into bankruptcy. Yet I suspect that there will be zero intelligent discussion about the implications of the failed Kansas experiment. And the mistake will be repeated...

[Ken Olson]

The purest philosophy rarely works in the real world.

[Ken Olson]

Except for mine. That would work. ;)

[J. Hugh Sullivan]

On Wed, 7 Jun 2017 22:16:11 -0700 (PDT), Futbol Phan
<sgz...@gmail.com> wrote:

> Yet I suspect that there will be zero intelligent discussion

I imagine they will welcome your input.

Hugh




---
This email has been checked for viruses by AVG.
http://www.avg.com

[J. Hugh Sullivan]

On Thu, 8 Jun 2017 03:02:03 -0400, Ken Olson <kol...@freedomnet.org>
wrote:

That is an amazingly accurate statement.

[xyzzy]

On Thursday, June 8, 2017 at 12:20:17 AM UTC-4, Some dued wrote:
> Cause huge budget shortfalls!

Who could have predicted this unpredictable result???!!1

[dotsla...@gmail.com]

There's so many gems in the linked article. Especially like the regular conservatives lamenting - it's unpossible to work with these rightwing ideologues!!

Cheers.

[J. Hugh Sullivan]

On Thu, 8 Jun 2017 07:21:11 -0700 (PDT), xyzzy <xyzzy...@gmail.com>
wrote:

>On Thursday, June 8, 2017 at 12:20:17 AM UTC-4, Some dued wrote:
>> Cause huge budget shortfalls!
>
>Who could have predicted this unpredictable result???!!1

Liberals might have. But, except for Bill Clinton, they don't shiv a
git.

[Some dued]

The following paragraph sums it up nicely:

"As the years passed, the promised growth failed to materialize. Monthly tax receipt reports became a drumbeat bearing the same bad news: revenues were lower than expected, meaning budget shortfalls would be greater than expected."

[Emperor Wonko the Sane]

So how do the states with zero income taxes fit into this thinking?

Doug

[dotsla...@gmail.com]

They'd make major cuts to all their other sources of tax revenue, the Republicans would promise it'd spur enormous business growth and actually generate more tax revenue, it wouldn't, and they'd spiral like kansas.

Really not that complicated. Unless you're trying to make some point about a state that doesn't generate any tax revenue. Which state is that, again?

Cheers.

[xyzzy]

On Thursday, June 8, 2017 at 1:11:34 PM UTC-4, dotsla...@gmail.com wrote:
> They'd make major cuts to all their other sources of tax revenue, the Republicans would promise it'd spur enormous business growth and actually generate more tax revenue, it wouldn't, and they'd spiral like kansas.
>
> Really not that complicated. Unless you're trying to make some point about a state that doesn't generate any tax revenue. Which state is that, again?

The state that comes closest is probably Alaska. No state income, sales, or property tax. Oh yeah, right,did I also mention a budget crisis that's entering its third year with no end in sight?

https://www.adn.com/tag/alaska-budget-crisis/

[JGibson]

Most have them make up for it other ways:

https://www.usatoday.com/story/money/personalfinance/2016/03/19/states-no-individual-income-tax/81965082/

Of course, I live in a state high in income tax, sales tax, and property tax.

[Ken Olson]

You didn't answer the question. Please reread it and answer again.

[Ken Olson]

On 6/8/2017 12:15 PM, Some dued wrote:
> The following paragraph sums it up nicely:
>
> "As the years passed, the promised growth failed to materialize. Monthly tax receipt reports became a drumbeat bearing the same bad news: revenues were lower than expected, meaning budget shortfalls would be greater than expected."
>

The same thing that happens when tax rates are too high.

[The Cheesehusker, Trade Warrior]

On Wednesday, June 7, 2017 at 11:20:17 PM UTC-5, Some dued wrote:

It's good to know what side of the Laffer curve you're on.

And yes - too big a tax cut too quickly will/can hurt - just as too big a tax hike too quickly can.

As well as other factors.

[Ken Olson]

IAWTP

[The Cheesehusker, Trade Warrior]

Interestingly, both Alaska and Kansas are commodity dependent states.

[michael anderson]

On Thursday, June 8, 2017 at 1:28:10 PM UTC-5, JGibson wrote:
> On Thursday, June 8, 2017 at 12:59:18 PM UTC-4, Emperor Wonko the Sane wrote:
> > On Thursday, June 8, 2017 at 12:16:14 AM UTC-5, Futbol Phan wrote:
> > > On Wednesday, June 7, 2017 at 11:20:17 PM UTC-5, Some dued wrote:
> > > > Cause huge budget shortfalls!
> > > >
> > > > It's the end of the road for the GOP's big tax experiment in Kansas
> > > > http://www.latimes.com/nation/la-na-kansas-tax-20170607-story.html
> > >
> > > Kansas was the purest example of this economic philosophy. And virtually everyone agrees it failed miserably. Brownback wants more time for the policy to show benefits, which would probably drive the state into bankruptcy. Yet I suspect that there will be zero intelligent discussion about the implications of the failed Kansas experiment. And the mistake will be repeated...
> >
> > So how do the states with zero income taxes fit into this thinking?
> >
> > Doug
>
> Most have them make up for it other ways:

and for most workers who make decent salaries, those OTHER WAYS don't come close to confiscating as much money(thankfully) as a state income tax does.

I'd gladly pay more in property tax, sales tax, other taxes to get rid of the MASSIVE money the state of Alabama confiscates every month from me in income tax.

Sales tax in my county is already 10 cents on the dollar(rather high), but even if it were raised 2 more cents I'd have to buy like 120,000 dollars in taxable goods per month to even things out.....

I don't buy 120,000 dollars worth of taxable goods every month.

[Ken Olson]

Skinflint. :)