New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create jobs

RetiredUSN · May 18, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

imyoda said:
New data from Sam Brownbackâ€™s Kansas destroys the GOP myth that tax cuts create jobs
New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create jobs

“The state of Kansas, where Gov. Sam Brownback’s right-wing economic program and handling of the state finances have reached comedic levels of absurdity, is now also failing at a key economic test: Keeping up with the neighboring state………..

………. highlights the newest data from the federal Bureau of Labor Statistics, which show the disparity in job numbers between the Kansas and Missouri sides of the Kansas City metro area…………

………… “The data, in fact, are extremely discouraging for Brownback and the few remaining people who thought his tax cuts would act like a jobs magnet for the Sunflower State,” writes Abouhalkah. “The bottom line: Missouri gained employment almost five times faster than Kansas in the metro region over……..

Once again, the GOP’s economic fix all……the tax cut proves to be a dud ….. failure……pipe dream….
When will the voters ever figure it out and not elect these “Snake oil” buffoons……..

ALSO SEE:
Seth Meyers: GOP wrecked Kansas economy so bad they had to auction off dildos for cash
Jobs tank in Kansas, surge in Missouri in Kansas City area | The Kansas City Star
Yael T. Abouhalkah: In defending Gov. Sam Brownbackâ€™s tax cuts, two economists bungle the job | The Kansas City Star
Sam Brownback praises 2012 business tax cut in Kansas | CJOnline.com

Meanwhile, it is ranked 23rd in the Nation. Seems pretty mainstream to me.

Gimmesometruth · May 18, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

RetiredUSN said:
Meanwhile, it is ranked 23rd in the Nation. Seems pretty mainstream to me.

No idea what that means.

In March 2016, nonfarm payroll employment increased in 37 states, decreased in
12 states and the District of Columbia, and was unchanged in South Dakota.
The largest over-the-month increases in employment occurred in Maryland
(+19,300), Ohio (+18,300), and New Jersey (+17,300). The largest over-the-month
decrease in employment occurred in Texas (-12,000), followed by Indiana (-9,000)
and Oklahoma (-5,800). The largest over-the-month percentage increases in
employment occurred in Hawaii and Maryland (+0.7 percent each), followed by
Rhode Island and South Carolina (+0.6 percent each). The largest over-the-month
percentage declines in employment occurred in Alaska and Wyoming (-0.4 percent
each), followed by Arkansas, Indiana, and Oklahoma (-0.3 percent each). Over
the year, nonfarm employment increased in 43 states and the District of Columbia,
decreased in 6 states, and was unchanged in Kansas.

Over the year, 37 states had statistically significant changes in employment,
35 of which were positive. The largest significant over-the-year job increase
occurred in California (+420,800)

Regional and State Employment and Unemployment Summary

KLATTU · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Gimmesometruth said:
N

That's funny, you go from Sowell's ignoring of Stockman....to Obama is a supply-side "utilizer"....spinning wider and wider.

e.....

Of course he ignored Stockman. Stockman was a theology student thus has never developed any economic theory. There is no such thing as a trickle down theory. Suppy side is NOT trickle down.

"Our language is loaded with phrases that lead people into false beliefs and harmful actions, but the one I would nominate as the worst and most destructive of all is “trickle-down economics.”

It was devised by Democrats in the 1980s as a way to attack President Reagan’s economic policy combination of tax rate cuts and some relaxation of federal regulations. They needed a catchy, easy-to-remember zinger to fire at Reagan; a line that would keep their voting base angry.

Sneering that Reagan’s policies amounted to cutting taxes on the rich in hopes that some small amount of that money would eventually trickle down into the pockets of workers was perfect. It painted Reagan and other advocates of tax reduction as friends of the rich who would cruelly deprive the government of the money it needed to help the poor and middle class.

As a political slogan, it was a brilliant stroke.

The trouble is that it has led vast numbers of people into a disastrously mistaken idea about the source of prosperity – that high taxes and a growing government is the way to increase it.

Forbes Welcome

In a free society, wealth doesn’t trickle down, or up, or sideways. It is earned.

jonny5 · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

BitterPill said:
Taxing groceries equally is not taxing equally.

You have probably never heard of a regressive tax.

Of course I have. And a flat tax is not regressive. It is, by definition, flat.

Gimmesometruth · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

KLATTU said:
Of course he ignored Stockman. Stockman was a theology student thus has never developed any economic theory.

Sowell was not just focused on "theory development", but policy application, and if anyone should be mentioned on supply side/trickle policy development under Raygun, it would be Stockman. The reason Stockman is ignored, is because he as head of the OMB, he spoke truth to power of the voodoo Laffer was pushing on the old man. If anyone could recognize voodoo, it would be a theology grad.

There is no such thing as a trickle down theory. Suppy side is NOT trickle down.

Whoa cowboy, you got the cart in front of the horse, trickle down is a supply-side variant. You already said lower taxes are a part of supply-side theory.

Forbes Welcome

"Higher taxes on the rich mean that those people have less wealth to invest, donate, (sic) and spend...."

LOL...the think tank member simultaneously explains and defends trickle-down!
Too funny!

KLATTU · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Gimmesometruth said:
Sowell was not just focused on "theory development", but policy application, nd if anyone should be mentioned on supply side/trickle policy development under Raygun, it would be Stockman. The reason Stockman is ignored, is because he as head of the OMB spoke truth to power of the voodoo Laffer was pushing on the old man. If anyone could recognize voodoo, it would be a theology student. Whoa cowboy, you got the cart in front of the horse, trickle down is a supply-side variant. You already said lower taxes are a part of supply-side theory.
y!

Sowell expalined that there is no such thing as a trickle down theory. The Forbes article amplified by pointing out that that term is a creation od left wingers. Supply side is not trickle down=the Forbes article explains that as well.

Gimmesometruth said:
"Higher taxes on the rich mean that those people have less wealth to invest, donate, (sic) and spend...."

LOL...the think tank member simultaneously explains and defends trickle-down!
Too funny!

Also the sun rises in the east and set in the West. Both statements are equally obvious.

Gimmesometruth · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

KLATTU said:
Sowell expalined that there is no such thing as a trickle down theory.

By relying on a text whose author died in 1950, prior to the development of "supply-side" economics. Under that argument, supply side is not a theory either.

The Forbes article amplified by pointing out that that term is a creation od left wingers.

Gosh, the denial is so strong, still can't deal with the fact that Stockman uttered the term in 1980.

Supply side is not trickle down]=the Forbes article explains that as well.

Trickle down is a variant of supply-side, there are many supply-side variants.

Also the sun rises in the east and set in the West. Both statements are equally obvious.

But the main point of supply-side is that lower taxes can cause greater investment into production, whereas the think tank author went off on "donations and spending".....which are DEMAND SIDE inputs....ergo...emphasizing the trickle-down variant.

KLATTU · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Gimmesometruth said:
By
But the main point of supply-side is that lower taxes can cause greater investment into production, whereas the think tank author went off on "donations and spending".....which are DEMAND SIDE inputs....ergo...emphasizing the trickle-down variant.

and you just proved the whole point. Trickle down is a left winger term, derisively and falsely applied to supply side economics. The author was sating waht happens when you lower taxes. YOU decided to interpet that as ' trickle down'

KLATTU · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Gimmesometruth said:
By relying on a text whose author died in 1950, prior to the development of "supply-side" economics. Under that argument, supply side is not a theory either.Gosh, the denial is so strong, still can't deal with the fact that Stockman uttered the term in 1980. Trickle down is a variant of supply-side, there are many supply-side variants.
nt.

there has been no such theory as trickle down developed since 1950. Trickle down is a term invented by left wingers and falsely attributed to supply side.

Gimmesometruth · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

KLATTU said:
and you just proved the whole point. Trickle down is a left winger term, derisively and falsely applied to supply side economics. The author was sating waht happens when you lower taxes. YOU decided to interpet that as ' trickle down'

The idea that lower taxes causes greater levels of investment into production is not supported by evidence, since the advent of neo-liberal policy that includes lower taxes and lower barriers to trade, investment has shifted to speculation and investment to areas of lower labor costs. It did not cause greater US production employment, that had continued to decline at even greater rates between 79-08. It did not cause greater levels of revenue, in fact revenue as a percent of GDP DECLINED under Raygun. It was suspect from the start, nothing since has panned out.....which is why it remains a derisive term used by not only libruls but also Raygun OMB Directors.

It is not working for working Americans, and it certainly is not doing any good in Kansas either. All it does is to cause greater levels of inequality.

iguanaman · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

KLATTU said:
there has been no such theory as trickle down developed since 1950. Trickle down is a term invented by left wingers and falsely attributed to supply side.

If you are saying that there is no "trickle down" in supply side economics, history has proven you correct. The result of tax cuts on the rich was excess capital with no where to go which brought the rise of hedge funds and asset bubbles not to mention those record deficits. Capital investment can only happen when demand requires it and that is the fundamental flaw in supply-side. H W Bush got it right when he called the plan "Voodoo economics".

KLATTU · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

iguanaman said:
If you are saying that there is no "trickle down" in supply side economics, history has proven you correct.s".

Well, I would word it differently . I would say when there is economic growth, it tends to benefit many . That has happened many times.
By your statement , one would think that has never happened-not once.
You only make yourself sound completely partisan and ignorant when you make absolute statements like that.

iguanaman · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

KLATTU said:
Well, I would word it differently . I would say when there is economic growth, it tends to benefit many . That has happened many times.
By your statement , one would think that has never happened-not once.
You only make yourself sound completely partisan and ignorant when you make absolute statements like that.

That is also correct, "When" there is economic growth it tends to benefit everyone. Sadly our growth has slowed since the 1980's tax cuts because tax cuts for the wealthy do not spur growth like they raise deficits and cause asset bubbles.

The United States is the world’s largest economy. Yet, in the last two decades, like in the case of many other developed nations, its growth rates have been decreasing. If in the 50’s and 60’s the average growth rate was above 4 percent, in the 70’s and 80’s dropped to around 3 percent. In the last ten years, the average rate has been below 2 percent and since the second quarter of 2000 has never reached the 5 percent level.

United States GDP Annual Growth Rate | 1948-2016 | Data | Chart | Calendar

KLATTU · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

On of my favorite things to do is slap a liberal around WITH THEIR OWN LINKS...

Look what happened around 1980. Growth exploded.

Look what happened after 1996 ( the Clinton capital gains tax cut) . Growth rose.
Look what happened in 2002, ( Bush tax cut). Again growth rose.

At the very least that puts the sword to the moronic statement that "history shows supply side doesn't work."

Gimmesometruth · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

KLATTU said:
On of my favorite things to do is slap a liberal around WITH THEIR OWN LINKS...

View attachment 67201589

Look what happened around 1980. Growth exploded.

Look what happened after 1996 ( the Clinton capital gains tax cut) . Growth rose.
Look what happened in 2002, ( Bush tax cut). Again growth rose.

At the very least that puts the sword to the moronic statement that "history shows supply side doesn't work."

The following charts show the correlation between tax rates and economic growth over the periods above. The slope of the solid line in each chart is the key.

The left hand chart shows that there is no correlation between GDP growth and the top marginal tax rates. The righthand chart shows that there might be a very modest tendency toward faster economic growth with higher capital gains rates. (But those who love today's record-low capital gains rates will be relieved to know that the CRS does not find this correlation to be statistically significant.)

http://www.businessinsider.com/study-tax-cuts-dont-lead-to-growth-2012-9

KLATTU · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Ok I concede. Low taxes have absolutely no positive effect on private sector growth,

We should go back to the 90% rates on high earners

Just watch that economy take off like a rocket.

imyoda · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Fenton said:
No, please explain using legitimate economic proposals, not made up on the fly nonsense

That's legit for me..............Too deep for you to understand?

imyoda · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

RetiredUSN said:
Meanwhile, it is ranked 23rd in the Nation. Seems pretty mainstream to me.

23rd in what?

States on the possible bankrupt list.............Read up on Sam with a 26% and the billion dollar + debt he put the state in..........

Yall need to pay better attention.............get your newsd from responsible and reliable news sources...........because the ones yall seem to be using (if any) are tell yall whooie

Fenton · May 19, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

imyoda said:
That's legit for me..............Too deep for you to understand?

So you're incapable of expanding on this supposed superior alternative to Supply Side economics

You probably shouldn't venture into these types of threads anymore, until you educate yourself a bit more that is

Gimmesometruth · May 22, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

http://econbrowser.com/archives/2016/04/kansas-loses-patience-with-gov-brownbacks-tax-cuts

Critter7r · May 22, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

KLATTU said:
On of my favorite things to do is slap a liberal around WITH THEIR OWN LINKS...

View attachment 67201589

Look what happened around 1980. Growth exploded.

Look what happened after 1996 ( the Clinton capital gains tax cut) . Growth rose.
Look what happened in 2002, ( Bush tax cut). Again growth rose.

At the very least that puts the sword to the moronic statement that "history shows supply side doesn't work."

Yes, it just doesn't work for long. every time a new SSE policy was introduced, there was a bunch of "growth" while the policy was taken advantage of, and then "growth" fell back to normal.

Sent from my SM-G360V using Tapatalk

Fenton · May 22, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Critter7r said:
Yes, it just doesn't work for long. every time a new SSE policy was introduced, there was a bunch of "growth" while the policy was taken advantage of, and then "growth" fell back to normal.

Sent from my SM-G360V using Tapatalk

That doesn't accurately describe SSE at all, Fiscal stimulus sure, but not SSE.

Fiscal stimulus by design ignores any and all underlying issues that are dragging the economy down, and when it runs out we're right back to where we started

Since private sector investment just sits idle during Gobt stimulus initiatives the economy is far worse off but now you have massive amounts of new sovereign debt to contend with

Gimmesometruth · May 22, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Fenton said:
Fiscal stimulus by design ignores any and all underlying issues that are dragging the economy down

Sure, "it ignores" (as if policy is a living entity) weak demand, weak private sector job growth. This will always be the downfall of supply-siders, the ignoring of demand.

http://econbrowser.com/archives/2016/04/kansas-loses-patience-with-gov-brownbacks-tax-cuts

KLATTU · May 23, 2016

Re: New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create j

Critter7r said:
Yes, it just doesn't work for long. every time a new SSE policy was introduced, there was a bunch of "growth" while the policy was taken advantage of, and then "growth" fell back to normal.

Sent from my SM-G360V using Tapatalk

Ok , so it DOES work, just not for long.
I'm not sure if you were one of them, but most of the liberals on this thread were quite adamant . It doesn't work.

New data from Sam Brownback’s Kansas destroys the GOP myth that tax cuts create jobs

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