The Kansas legislature finally put a stop to the predictably failed trickle-down tax-cut experiment it began in 2012.
Kansas Gov. Sam Brownback (R) had vetoed a bill that partially reset income-tax rates to where they were before the cuts and closed a huge loophole — importantly, one mimicked in President Trump’s tax plan. But on Tuesday, lawmakers overrode the governor’s veto.
They didn’t have much of a choice. Based on their fiscal outlook — the state faces a $900 million shortfall — Kansas’s bond rating has been downgraded twice by two rating agencies. The state has burned through its reserves.
Jesus, a nine million dollar shortfall. That is an almost Biblical catastrophe to fall on such a small state.
And it exists solely because Republicans do not understand economics.
Something to keep in mind, as the author points out, is that this is exactly the kind of trickle down approach to the federal budget that Donald Trump and the Republicans would like to inflict on the American people.
Which means that the Trump budget must be rejected just as his Secretary of Education's budget was rejected yesterday.
Source http://ift.tt/2r2z2ds
