Kansas economy rebounds from tax-cutting disaster

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DejaMoo
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Kansas economy rebounds from tax-cutting disaster

#1

Post by DejaMoo » Wed Jul 10, 2019 4:18 pm

The comeback state of 2019: Kansas economy rebounds from tax-cutting disaster
Two years after repealing steep tax cuts, Kansas’ budget is back in the black.

Residents of one midwestern state can be forgiven if they have a feeling they are not in Kansas anymore. The Sunflower State finishes a respectable No. 19 overall in this year’s CNBC America’s Top States for Business rankings. That is a 16-place jump from 2018, making Kansas this year’s most improved state.

One year ago Kansas was still nursing a hangover from a disastrous tax-cutting experiment by former Republican Gov. Sam Brownback, who slashed individual income-tax rates and eliminated taxes on “pass-through” income from certain businesses. Even though a bipartisan super-majority of the state legislature had repealed the Brownback program over his veto in 2017, the state was still dealing with a residual $351 million revenue shortfall for fiscal 2018, according to the Center on Budget and Policy Priorities. In addition to its No. 35 overall ranking last year, Kansas finished a dismal No. 45 in the Economy category.

This year the full force of the repeal has taken effect: The state is running a budget surplus. In addition to the 16-point improvement in its overall ranking, Kansas rises 16 points in the Economy category.

We are returning to our roots as a very progressive, thoughtful, forward-looking state,” Gov. Laura Kelly, a Democrat, told CNBC in an interview. Kelly was elected last year as part of the backlash over the Brownback plan.
I've heard this bull before.

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AndyinPA
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Re: Kansas economy rebounds from tax-cutting disaster

#2

Post by AndyinPA » Wed Jul 10, 2019 5:42 pm

And Kris Kobach wants to run for Senator here. :roll:

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Tiredretiredlawyer
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Re: Kansas economy rebounds from tax-cutting disaster

#3

Post by Tiredretiredlawyer » Wed Jul 10, 2019 5:45 pm

AndyinPA wrote:
Wed Jul 10, 2019 5:42 pm
And Kris Kobach wants to run for Senator here. :roll:
That’s Chris Kobach now!
“A black woman can invent something for the benefit of humankind.” -Bessie Blount-Griffin, physical therapist, inventor of devices for disabled WWII veterans, and forensic scientist.

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AndyinPA
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Re: Kansas economy rebounds from tax-cutting disaster

#4

Post by AndyinPA » Wed Jul 10, 2019 6:12 pm

Tiredretiredlawyer wrote:
Wed Jul 10, 2019 5:45 pm
AndyinPA wrote:
Wed Jul 10, 2019 5:42 pm
And Kris Kobach wants to run for Senator here. :roll:
That’s Chris Kobach now!
:rotflmao:

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Slim Cognito
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Re: Kansas economy rebounds from tax-cutting disaster

#5

Post by Slim Cognito » Wed Jul 10, 2019 6:19 pm

AndyinPA wrote:
Wed Jul 10, 2019 6:12 pm
Tiredretiredlawyer wrote:
Wed Jul 10, 2019 5:45 pm
AndyinPA wrote:
Wed Jul 10, 2019 5:42 pm
And Kris Kobach wants to run for Senator here. :roll:
That’s Chris Kobach now!
:rotflmao:
Now if they can just talk some sense into Missouri, who seems determined to jump into the pit now that KS has vacated. They just need to first dig it deeper.
ImageImageImage x4

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AndyinPA
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Re: Kansas economy rebounds from tax-cutting disaster

#6

Post by AndyinPA » Wed Jul 10, 2019 6:22 pm

:like:

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