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Red states mull higher taxes

JANFU

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Red states mull higher taxes | TheHill

It is a reversal, in many ways, of recent trends toward deep tax cuts, led by states like Kansas, where Gov. Sam Brownback (R) and the Republican-dominated legislature slashed rates on individuals and businesses in hopes of spurring economic growth. Kansas now faces a $350 million budget hole this year, and a likely $600 million gap next year.

This year, a coalition of centrist Republicans and Democrats are plotting new tax hikes to plug those holes. The legislature is likely to roll back a tax cut on small businesses Brownback signed in 2012, while also raising gas taxes.

Other states have taken notice of Kansas’s budget woes, effectively putting the brakes on some efforts to adopt similar tax cuts.

At least eight other states, including Tennessee, Arizona and Missouri, are considering raising gas taxes specifically aimed at paying for transportation and infrastructure projects. As vehicles become more fuel efficient, gas taxes have produced less revenue, squeezing state budgets.

Guess the tax cuts for the wealthy did not bring in anything but deficits.
 
One would think over three decades of Laffer failure would be enough for the Repubs, but apparently not so.

How can anyone believe cutting revenue and increasing expenditure, is the way to run government? :doh
 
One would think over three decades of Laffer failure would be enough for the Repubs, but apparently not so.

How can anyone believe cutting revenue and increasing expenditure, is the way to run government? :doh
Ask Trump and the people that voted for him.
 
Ask Trump and the people that voted for him.
That is very true.

His stated M.O. seems to be:

Tax cuts for all, especially the wealthy and corporations, and huge unbudgeted spending on infrastructure, wall, etc.

And no one seems to think this might be an impossibility, for some reason. Like we live in some alternate reality universe.
 
That is very true.

His stated M.O. seems to be:

Tax cuts for all, especially the wealthy and corporations, and huge unbudgeted spending on infrastructure, wall, etc.

And no one seems to think this might be an impossibility, for some reason. Like we live in some alternate reality universe.

And then they criticize Hilary for planning to run a deficit.
 
One would think over three decades of Laffer failure would be enough for the Repubs, but apparently not so.

How can anyone believe cutting revenue and increasing expenditure, is the way to run government? :doh

A real fiscal conservative doesn't believe that. your supposed to also decrease expenditure for it to work. unfortunately dems and reps both love to spend our money.
 
One would think over three decades of Laffer failure would be enough for the Repubs, but apparently not so.

How can anyone believe cutting revenue and increasing expenditure, is the way to run government? :doh

Ya gotta wonder where this fellow's brain is. I can hazard a good guess though.

Red states mull higher taxes | TheHill

Nebraska legislators are debating a deeper shift in the state’s tax code. One faction in the ostensibly nonpartisan unicameral legislature wants to reduce income taxes while raising sales taxes. Another wants to shift emphasis from property taxes to sales taxes. Gov. Pete Ricketts (R) has said he would like to cut both property and income taxes, though the state faces a $900 million shortfall.
 
And then they criticize Hilary for planning to run a deficit.

I get the feeling that Trumps deficits will be massive. Wonder how Republicans will square this circle?They went after Obama for massive deficits.
Going to be interesting listening to the walk backs with that one
 
A real fiscal conservative doesn't believe that. your supposed to also decrease expenditure for it to work. unfortunately dems and reps both love to spend our money.

Except you can't do that since everything is dependent on government spending these days.
 
:lamo

Holy geez!

I can only wonder when those that vote for guys like this, see stuff like this, what the hell do they think of it? Do they care?

They want to pay less for government first and foremost.
 
Red states mull higher taxes | TheHill



Guess the tax cuts for the wealthy did not bring in anything but deficits.

There are two issues here. Gas taxes and revenue taxes. Gas taxes have fallen behind mostly due to increased efficiency, and the cost of highway construction has gone up. (Not insignificantly due to delays due to red tape).
Kansas's general tax cut failed to attract ecomomic activity mostly because the national economic picture is not robust enough to make factories to want to move, or more likely, expand in Kansas.

Most moves aren't "moves" but expansions, but with a 2 1/2% economy, why bother? Moves are expensive and don't increase sales. You expand into cheaper real estate, lower taxes, better infrastructure, proximity to markets to support increasing sales volumes.
 
Sorry, what's a $350 million dollar budget hole to a state like Kansas? How many single Americans have over $350 million? Their unemployment rate was 4.3% as of November.

In other news, perpetually Democrat controlled Detroit filed for bankruptcy in 2013 owing $18-$20 billion!

https://en.wikipedia.org/wiki/Detroit_bankruptcy
 
:lamo

Holy geez!

I can only wonder when those that vote for guys like this, see stuff like this, what the hell do they think of it? Do they care?
Only about the next election
 
There are two issues here. Gas taxes and revenue taxes. Gas taxes have fallen behind mostly due to increased efficiency, and the cost of highway construction has gone up. (Not insignificantly due to delays due to red tape).
Kansas's general tax cut failed to attract ecomomic activity mostly because the national economic picture is not robust enough to make factories to want to move, or more likely, expand in Kansas.

Most moves aren't "moves" but expansions, but with a 2 1/2% economy, why bother? Moves are expensive and don't increase sales. You expand into cheaper real estate, lower taxes, better infrastructure, proximity to markets to support increasing sales volumes.

Well it did not work, was known IIRC it was not working, but they continued down the deficit road.
Look at the mess in LA, the State is in a fiscal mess.
 
I had never thought about how more fuel efficient vehicles cut into tax revenue.
 
There are two issues here. Gas taxes and revenue taxes. Gas taxes have fallen behind mostly due to increased efficiency, and the cost of highway construction has gone up. (Not insignificantly due to delays due to red tape).
Kansas's general tax cut failed to attract ecomomic activity mostly because the national economic picture is not robust enough to make factories to want to move, or more likely, expand in Kansas.

Most moves aren't "moves" but expansions, but with a 2 1/2% economy, why bother? Moves are expensive and don't increase sales. You expand into cheaper real estate, lower taxes, better infrastructure, proximity to markets to support increasing sales volumes.
what would be the clue that industry needs to expand in the face of falling sales volumes? Most of us already have too much stuff, it is very easy to just stop spending for non-necessities which hurts the economy.
And for about the last 15 years I have seen new commercial construction in areas that are already overbuilt...
 
what would be the clue that industry needs to expand in the face of falling sales volumes? Most of us already have too much stuff, it is very easy to just stop spending for non-necessities which hurts the economy.
And for about the last 15 years I have seen new commercial construction in areas that are already overbuilt...

We need consumption at home and more finished goods exports.
 
that's not true. they were welcomed by the 'over taxed' wealthy

Fixed that for you... a rather hollow claim since the only sector of society increasing wealth at a rather impressive rate is the 'over taxed' wealthy... :peace
 
Fixed that for you... a rather hollow claim since the only sector of society increasing wealth at a rather impressive rate is the 'over taxed' wealthy... :peace


you do understand that just because the wealthy are making more money-that does not prove they are undertaxed? see some of us believe that taxation should bear at least some relevance to the benefits you get for those taxes.
 
Sorry, what's a $350 million dollar budget hole to a state like Kansas? How many single Americans have over $350 million? Their unemployment rate was 4.3% as of November.

Past Trump I don't know too many folks who owe that much...

Let's talk Oklahoma... I can tell you what our 1.3 BILLION shortfall means... a gutted education system, infrastructure, prison, medical, VA system and NO NEW ECONOMIC GROWTH. Rather than admit the budget is a hot mess the CON legislature continues to pretend a boon is coming.

unemployment rates in the fly over states are highly misleading. The great lament of our state is our young must leave the state of their birth to find work, so the rate means only a few stay and most leave if they want to work... :peace
 
you do understand that just because the wealthy are making more money-that does not prove they are undertaxed? see some of us believe that taxation should bear at least some relevance to the benefits you get for those taxes.

You get a system rigged to keep the wealthy making money far in excess of the vast majority of Americans. I do believe most 'poor' wealthy folks rig their incomes to dodge income tax... I can't cry for a group outpacing the rest of society even as the invisible hand drove the economic bus off the nearest cliff... :peace
 
You get a system rigged to keep the wealthy making money far in excess of the vast majority of Americans. I do believe most 'poor' wealthy folks rig their incomes to dodge income tax... I can't cry for a group outpacing the rest of society even as the invisible hand drove the economic bus off the nearest cliff... :peace

that's called investment. smart investors can double their money every 7-8 years. I know I do. and when you have more income than expenses, you can invest. I don't know how you get off claiming the rich dodge income taxes given those of us on the top 1% make about 20% of the income and yet pay about 40% of the income taxes. SO obviously MOST of the top one percent aren't doing much of a job in dodging income taxes.
 
that's called investment. smart investors can double their money every 7-8 years. I know I do. and when you have more income than expenses, you can invest. I don't know how you get off claiming the rich dodge income taxes given those of us on the top 1% make about 20% of the income and yet pay about 40% of the income taxes. SO obviously MOST of the top one percent aren't doing much of a job in dodging income taxes.

Investments that require a king's ransom to buy into... And are you saying you spend your days reading the reports and phoning your broker or you are 'smart' (rich) enough to have a trust fund broker handling this for you...

Or they do a GREAT job dodging because or the massive amount of wealth they hold and incrediable rise in income even when the market crashed...
 
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