Kansas serves as a cautionary tale for the whole concept of “if we cut taxes, the economy will thrive and we’ll end up pulling in more tax revenue anyway” that underlies Republican claims around their tax proposals. Making the rich richer, cutting taxes on businesses that already manage to exempt themselves to zero tax liability, doesn’t spread the money around, no matter what horse-and-sparrow trickle-down proponents claim. Kansas is only the latest example demonstrating the failure. The GOP in Congress seem determined to create a new one.
Kansas Warns Congress Not to Repeat Its Tax-Cut Mistake – The Atlantic
Kansas Republicans say they are worried that Congress and the Trump administration will repeat the mistake they made in enacting budget-busting tax cuts.
The sad part is ever since zombie st. Ronnie of the Raygun crashed the economy using the same ideas, the GOP keeps selling the same idea and our useless press keeps repeating the myth that the GOP is the giant deficit slayer. They never seem to get that their entire goal is to destroy the government to prove that government doesn't work.
Isn't OK now trying to do the same thing as KS?
There's $2T overseas that could shine up the economy real nice if given a tax holiday. Not to mention what a reduction in tax rates for the lower 60% could do for our consumer driven economy…
+Forex Freelancer it's never worked that way before and it won't work that way now.
The people who make more money pay more taxes. (not!)
Cutting corporate taxes and making the middle class pay for the tab is some moronic shit. What am I missing here?
+Stan Pedzick When's the last time there was a tax holiday for $2T?
+Forex Freelancer in 2004 there was a Tax Holiday for $362 billion, and the companies that benefited from it promptly cut 20000 jobs.
It's a loser of a proposal that only helps the .01%.
+wyvernx hey man – all you have to do is provide some proof that tax cuts for the rich do anything except give the rich more money. Prove it……but you can't, because every single time it's been tried, it's failed. Seriously, Kansas' experiment was an absolute failure.
And it's exactly why they will do it. It makes perfect sense for Republicans: "Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results" -Narcotics Anonymous organization
It will only work if you cut government spending. That's the part they seem to have the hardest time with. Government works backwards to any sensible organization. They overspend so their budgets get boosted. If they (any gov department) spend less, their budgets get cut. So they waste money on stupid overpriced remodeling projects, bloated payrolls, and useless functions to keep revenues high. So in the next budget, they get more money than they need. That's why there is so much waste and fraud.
+Awake Alert I've known quite a few corporate divisions and departments that followed the same practices. Not enough to kill the bottom line of the company, but enough to build internal empires and enjoy the largesse.
On the other hand, I find that the assumption that "government works" just one, wasteful, self-benefiting way to be a grotesque over-generalization, usually accompanied by insistence on cutting, not waste, but programs that actually help people who are considered by the assumer not worthy of help.
+Stan Pedzick And in the case of at least one beneficiary, they've made it clear this isn't going to go to more hiring or raises for existing employees.
'If Cisco repatriates its overseas cash, don’t expect a sudden rush of investment into new jobs. Kelly Kramer, executive vice president and chief financial officer of Cisco, told a conference of financial analysts in June that the company expects to use the cash to reward investors. Kramer said she expects to use tax reform to “grow to our dividend” and become a “lot more aggressive on the buyback,” referring to efforts to provide a short-term boost to the company’s stock price by buying its own shares on the marketplace.'
Huzzah for dividends and rising stock prices!
https://theintercept.com/2017/10/11/tax-plan-trump-chamber-of-commerce-small-business-lobby-cisco/