May 31 10:57 am May 31 10:57 am By Paul Krugman This Age of Derp, Kansas Edition Photo "Menzie Chinn notes the continuing failure of the Kansas experiment with supply-side tax cuts. And yes, it is an experiment — Gov. Brownback said it was, and by cutting taxes radically on the basis of ideology rather than any compelling event, Kansas in effect provided us with a natural experiment on exactly what such cuts accomplish. Menzie uses business indicators; I just look at employment growth since Brownback took office, compared with the nation as a whole (red line). No hint whatsoever of a supply-side boost, and of course a terrible fiscal crisis. "So how will this change GOP economic ideology? You know the answer: not at all. We live in an age of right-wing derp, of doctrines that just get repeated (and indeed strengthen their political hold) no matter how wrong they prove. Gold bugs and Austrians are more dominant in GOP circles than they were before seven years of wrongly predicting runaway inflation. Supply-siders are more dominant than ever despite the boom in California and the bust in Kansas. "Why this indifference to evidence? Partly it must be the closed right-wing media universe. Partly it’s political polarization, which means that in places like Kansas even the most spectacular policy failure doesn’t cost Republicans elections, whereas any hint of heresy will cost you the primary. "Anyway, it’s a remarkable picture."
Yup. As compared to, say, Keynes, who said: “When my information changes, I alter my conclusions. What do you do, sir?” One is ideology. The other requires thought.
LOL, well I see that the usual suspects who would rather die than admit that gov't spending will not resuscitate an economy, are calling for conservatives to admit they were wrong. Amusing doesn't even begin to describe it. After trillions in stimulus spending, employment and incomes are still trolling along the bottom of the barrel. But krugman and his et followers of keynes wouldn't budge on their conclusions if a load of information was dropped on their collective heads with a dump truck.
Kansas Legislature: "Taxing businesses? Idiotic. Taxing hospitals, schools, and the Girl Scouts? Excellent http://www.kansas.com/news/politics-government/article22761891.html "Earlier, senators spent hours debating a proposal to eliminate certain tax exemptions for schools, public hospitals and youth organizations, such as the Girl Scouts."
The hits just keep on coming. Consider this: Kansas Republicans Finally Consider Changing Course On Their 'Tea Party Experiment' ThinkProgress - 2 days ago Kansas Republicans consider minor rollbacks of their "teaparty experiment." ====================== You see, supply side tax cuts that require businesses making budget decisions, ramping up production, migration of people into state, etc, must be considered a failure if they don't happen within two years. Contrast that with the left's national experiment of trillion dollar deficit spending directly into the economy and monetary stimulus that is by all accounts....unprecedented. (is a time lag needed for these things to work?) And when, after six years, it produces one of the weakest recoveries ever, including weak gdp growth, weak employment, weak income growth, massive needs for things such as food stamps, we're told that they can't cut spending or even raise short term interest rates by one quarter of a percent because.........it needs more time. Ok, two years of a supply side experiment is more than enough time, but six years of a keynesian experiment needs to go on forever to work. Like Japan. Or something.
We only have 40+ years of Democrat policy failures like Detroit, Baltimore, welfare, etc... But 2 years in Kansas is proof. Right. I do agree with Paul that "it's a remarkable picture".
Under Common Core 5-2 equals a dissertation on the evils of white male colonialism, plus some sort of math that baffles rocket scientists.
Sam Brownback and the Kansas GOP figured out the perfect scheme to avert furloughs - declare all state employees essential, but not pay them for their work http://www.wibw.com/home/headlines/...ownBacks-Desk-306381701.html?device=phone&c=y 'In the statement, Brownback said that every state employee is essential, and that they should all report to work as normal, beginning Sunday, June 7. He did add that SB 11 means employees will work without the guarantee of being paid for that work.' Sometimes the level of stupid reaches a level where it is barely comprehensible. Welcome to Kansas.