Kansas raises taxes and its economy booms--the exact opposite of what Cons said

[Truth Detector]

The suffering of the tax cuts was mitigated by the fact that government spending increased 50% thanks to the Great Society and NASA.
In fact, the increase in government spending was greater than the reduction in revenue thanks to the tax cut.

This is a laughable pile of bullshit snowflake.

Also, revenue declined from 1964 to 1965, proving once again that tax cuts reduce revenue.

LIE and LAME. Federal receipts for 1963 $106.6 Billion; 1964 $112.6 billion; 1965 $116.8 billion; 1966 $130.8 billion; 1967 $148 billion.

You're beyond a mere moron. You're an epic moron.

[Truth Detector]

CA's GDP growth is higher than the rest of the country's.
Atlanta Fed predicts just 1.7% GDP growth for last quarter.
So the economy is slowing down.

You're seldom right so there is that. I am still waiting to hear how tax increase spur economic growth.

[Flash]

Flash left out the government spending because then he wouldn't be able to argue that tax cuts did anything.

Flash left out the government spending because it was irrelevant to the discussion of tax rates and recessions. You failed to mention the point which was most recessions occurred during periods of high federal income tax rates. As I stated, I don't think the tax rate (high or low) is the cause of recessions, but it illustrates that recessions are just (or more) as likely during high taxes.

[Flash]

These are things Flash leaves out either because he doesn't think of it, or he does and just acts in bad faith, hoping no will check his work.

Because it was irrelevant to the point.

[LV426]

Flash left out the government spending because it was irrelevant to the discussion of tax rates and recessions.

How so? Government spending isn't relevant to recessions? Government spending is spending, which grows the economy. So government spending is wholly integral when talking about recessions and tax cuts because its government spending that saves us from recessions. Why? A recession is when people pull back spending. So if I pull back my spending, and you pull back your spending, then who is spending in the economy? That's why during economic contractions, it's vital for the government to step in and stimulate spending in order to prevent further contraction.

As we saw from the ARRA, the spending with the highest rate of return was direct government spending on things like roads and infrastructure, and the spending with the lowest rate of return (or no return at all) were tax cuts. Most of the ARRA were tax cuts. So that's why as an economic stimulus, it was mediocre.

You failed to mention the point which was most recessions occurred during periods of high federal income tax rates.

WTF are you talking about?

The recession we just had the top marginal rate was just 35%.

The 1990-1 recession, the top marginal rate was 28%.

The 1982 recession happened right after the top marginal rate was reduced down from 70% to 50%.

The Great Depression kicked off with a top marginal rate of just 25%.

Even the mild recession we had in 2000 saw it when the top marginal tax rate was just 39.6%...but the capital gains tax rate was reduced to 25%, and it was the capital gains tax cut that caused the 2000 recession.

Nothing you say is accurate or based in fact. It's all bad faith, off the top of your head, too lazy to bother doing any of the research necessary to know what you're talking about.

[LV426]

Because it was irrelevant to the point.

No, Flash, you left out the whole government spending thing because you were trying to make an argument that tax cuts somehow don't cause recession, or cause growth, yet you have no actual evidence that proves that...just your hunch.

Here's the thing, over the last 40 years, we have cut the top marginal tax rate from 70% down to 37% today. Over that period of time, we have experienced more recessions than we did in the 40 years prior (1940-1980). Over that period of time, the personal savings rate has declined, and the household debt has increased...and those declines and increases happened after every tax cut.

This chart shows it:

97bd922a238d4257d5f16444ed1b8b3f.jpg

It's one none of you clods can explain because it ruins the fake narrative you're trying to push that "cutting taxes lets you keep more of what you earn, therefore it is good for the economy".

If cutting taxes lets you keep more of what you earn, why does household debt increase after every tax cut since 1980?

[LV426]

Flash left out the government spending because it was irrelevant to the discussion of tax rates and recessions.

What you said, in bad faith, was "What were the ill effects that made the nation suffer following the JFK tax cuts?"

And I said, the suffering was mitigated by the fact that government spending grew 50%, and that's why the economy grew and did well...not because of your tax cuts.

BTW - after that 1964 tax cut, revenue declined in 1965. Proving once again that tax cuts don't increase revenue by way of increased spending or consumption, and they never have.

[Getin the ring]

What you said, in bad faith, was "What were the ill effects that made the nation suffer following the JFK tax cuts?"

And I said, the suffering was mitigated by the fact that government spending grew 50%, and that's why the economy grew and did well...not because of your tax cuts.

BTW - after that 1964 tax cut, revenue declined in 1965. Proving once again that tax cuts don't increase revenue by way of increased spending or consumption, and they never have.

you can site the "great depression" and the "Kenndy tax cuts" all you want. So you googled a bunch of stuff and then posted it.

you're a phony , and a phony nut**bag to boot.

Any thoughts of your own?

How about stimulating spending out here in the real world. You know what stimulates my spending? when I have more money. Does that make any sense to you? please try.

And when do I have more money, if Trump cuts my taxes, which he did. It's really not hard to follow if you would stop googling things.
moron

[LV426]

you can site the "great depression" and the "Kenndy tax cuts" all you want. So you googled a bunch of stuff and then posted it.

You're mad because I actually show my work when you turn in a half-scrawled, mangled mess of a post that is barely articulate and full of so many misspellings and incorrect grammar, it was either written by an 8 year old, or someone who has been in a state of arrested development since age 8.

[LV426]

you're a phony , and a phony nut**bag to boot.

"phony".

You're so deficient and so inferior that the best you can do is pull insults from other people and then regurgitate them back at me because you can't think for yourself.

What a fucking loser.

[LV426]

Any thoughts of your own?

Apparently, you don't know how to comprehend what you read because nothing I'm saying here is plagiarized.

You can't say the same thing, though...my insults cut so deeply to the bone that you can't fathom anything harsher, so you just copy what I say and pass it off as your own shitty, half-assed work.

NOT IMPRESSED.

[LV426]

How about stimulating spending out here in the real world.

You mean that tax cut you got DIDN'T STIMULATE ANYTHING?

You all said it would grow the economy by at least 3%...actual growth? 2.85%, which was the best you've done on an annual basis so far and was below Obama's best year in 2015 when he got 2.88%.

So far, you haven't topped Obama's best GDP growth either on an annual or quarterly basis, and you never will.

Why? Because your economic policy of tax cuts is a fucking joke, just like your genetics.

[LV426]

You know what stimulates my spending? when I have more money. Does that make any sense to you? please try.

You got a tax cut, and instead of spending the money, you went into debt.

And for this, you couldn't even hit your minimum bar of 3% growth last year.

Like your life, the tax cut underachieved.

[LV426]

And when do I have more money, if Trump cuts my taxes, which he did. It's really not hard to follow if you would stop googling things.moron

Trump cut your taxes, handing you about an extra average of about $300 a year that you immediately lost to higher health care and energy prices.

And for this wondrous tax cut, we were supposed to get 3% growth which we didn't get last year.

So far, Trump has yet to top Obama's best annual GDP growth, and best quarterly GDP growth...and it looks like he never will.

So your entire economic belief system, like you sex life, is a joke.

[Centerleftfl]

The comeback state of 2019: Kansas economy rebounds from tax-cutting disaster
https://www.cnbc.com/2019/07/09/top-...-disaster.html

Tax cuts never, ever, ever, ever, ever, ever work.

All they do is force deficits which Conservatives then use as an excuse to cut the spending to which they are ideologically opposed, but lack the courage, will, and support to repeal through conventional legislation.

Conservatives act purely in bad faith.

BROWNBACK FUCKED THAT STATE UP FOR YEARS! Actually called the KANSAS EXPERIMENT.

The Great Kansas Tax Cut Experiment Crashes And Burns - Forbes

https://www.forbes.com/sites/.../the-great-kansas-tax-cut-experiment-crashes-and-burn...


Jun 7, 2017 - Brownback that were seen as a model for Trump's fiscal agenda. ... faster economic growth, the Kansas template for that approach has crashed ...