Another authoritative article against the Brownback "experiment."
Cross-posted courtesy Co-Chair Kansas Progressive Caucus Anne Ryan Pritchette:
Financial Times, Andrea Riquier, "Kansas tax cuts are causing chest pains, as expected 'shot of adrenalin' falls short", June 10, 2013
[Excerpt] ... The Kansas Center for Economic Growth ran projections on the final tax bill and budget with the help of Washington, DC-based Institute on Taxation and Economic Policy, and found that they actually constitute a tax increase on the poorest 20% of the population.
Starving the beast?
Even if politicians were to disregard spending on social programs and education, Francis said, employers want to relocate to places with solid infrastructure. The budget passed this weekend includes a USD 300m cut over two years to the Kansas Department of Transportation, which the state has raided in past years, as previously reported.
“People continue to lie to themselves and the Kansas public,” McKay said. “We are back to a revenue crisis. It’s not all unicorns and sunshine. You can only cut so much.” ... [End of Excerpt]
Read the complete article at Financial Times, UK.
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