Monday, June 30, 2014

Krugman: Kansas' Draconian Tax Cuts And Its Dismal Economic Performance Since

Alan: You can only cut so much before the knife targets your own throat.
Those afflicted with this disease don't see it.
They think they're beautiful.

Remember: A woman's curves are mostly fat.


KRUGMAN: Charlatans, cranks and Kansas. "Two years ago Kansas embarked on a remarkable fiscal experiment: It sharply slashed income taxes without any clear idea of what would replace the lost revenue....But Kansas isn’t booming — in fact, its economy is lagging both neighboring states and America as a whole. Meanwhile, the state’s budget has plunged deep into deficit, provoking a Moody’s downgrade of its debt....Yes, the Kansas debacle shows that tax cuts don’t have magical powers, but we already knew that. The real lesson from Kansas is the enduring power of bad ideas, as long as those ideas serve the interests of the right people. Why, after all, should anyone believe at this late date in supply-side economics...? The doctrine crashed and burned two decades ago." Paul Krugman in The New York Times.

Tax cuts in Kansas have cost the state money — and job creation’s been terrible. Christopher Ingraham.

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