How Tea Party tax cuts are turning Kansas into a smoking ruin

Discussion in 'Politics' started by gwb-trading, Jul 13, 2014.

  1. fhl

    fhl

    Salon on global warming:
    We're speeding toward a climate change catastrophe — and ...
    www.salon.com/.../were_speeding_toward_a_climate_change_catastrophe_and

    Salon on ohammedcare:
    Obamacare keeps working - Salon.com
    www.salon.com/.../obamacare_keeps_working_new_data_puts_repeal_happy_

    Salon on how our nation's deficits aren't big enough:
    Economic radicalism is the only answer: The most practical ...
    www.salon.com/.../why_getting_radical_might_be_the_most_practical_way_to_...Salon
    Nov 22, 2015 - "Between Debt and the Devil" author Adair Turner on how our fears of fiscal deficit are holding us back and more.

    Salon on how Obama's only problem is that whites hate him
    How White America's fear of Barack Obama has made us all ...
    www.salon.com/.../how_white_americas_fear_of_barack_obama_has_made_us



    rofl
    Awesome source you use to promote outsize payments to unworthy recipients, gwb.
    Of course I'm talking about teachers.
     
    #311     May 3, 2016
    AAAintheBeltway likes this.
  2. #312     May 3, 2016
    Ricter likes this.
  3. jem

    jem

    you can't possibly be comparing the job growth from Walker's state with a the job growth from obama's. We have nearly doubled our debt in 8 years and we have grown a few mc jobs and the economy is slowing almost into recession as we speak.

    Is that the governors fault or Obama's and the Feds? .
     
    #313     May 3, 2016
    murray t turtle likes this.
  4. And why aren't you in Kansas yet, jem, living dream? These are the kinds of tax cuts that you and Laffer espouse so heartily. Don't you want to be there to experience the economic bonanza first hand? I understand it's due any day now...
     
    #314     May 3, 2016
  5. Ricter

    Ricter

    Because of lowered revenues and increased non-discretionary spending. So it's not "Obama's".
    'How many times do I have to post this?'
     
    Last edited: May 3, 2016
    #315     May 3, 2016

  6. Scott Walker administration defers $101 million debt payment


    Gov. Scott Walker’s administration has put off a debt payment for the second year in a row — this one totaling $101 million — which will cost taxpayers about $2.3 million in additional interest.

    The state was supposed to retire about $132 million in debt on May 1, according to the nonpartisan Legislative Fiscal Bureau. Instead it reduced that amount by $101 million, which will help the state end the current biennium on June 30, 2017, in the black.

    However, it will also increase interest on the debt payments by $2.27 million over the next eight years, in addition to pushing principal payments into future budget cycles. The fiscal bureau put out a memo Tuesday based on an earlier estimate that the deferral would total $50 million, but the Walker administration confirmed later in the day that the total was actually $101 million.

    Walker administration spokeswoman Laurel Patrick said the restructuring reflects “prudent fiscal management” that was done to take advantage of historically low interest rates in a process used under previous administrations.

    She didn’t respond to a request for an explanation about why the state would rather pay more money in interest in the future rather than pay a lower amount now.

    “We have a proven track record of keeping the state’s fiscal house in order,” Patrick said. “We continue to efficiently manage state resources and will end this biennium with a surplus.”

    Rep. Gordon Hintz, D-Oshkosh, a member of the Legislature’s Joint Finance Committee, said the decision indicates the state can’t afford the tax cuts Walker and the Republican-controlled Legislature have enacted over the past five years.

    “The real effect is to starve each budget when, for the second year in a row, we’ve had to borrow money from the future to keep the budget in the black,” Hintz said.

    The state previously expected to end the biennium in mid-2017 with a $70 million general fund balance. That figure, which the LFB reported in January, was adjusted down $94 million due to slower-than-expected tax revenue growth.

    Last year the state faced a $283 million shortfall in its 2013-15 budget, which it was able to close in part by similarly putting off $108 million in debt payments.

    Before then, Walker’s administration last deferred debt payments in 2012 by $368.2 million and 2011 by $297.1 million.

    Former Gov. Jim Doyle restructured debt payments in 2003, 2004, 2008, 2009 and 2010 by a total of $687.8 million.

    The Republican leaders of the Legislature’s budget committee didn’t respond to a request for comment.

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    How dumb does one have to be to still vote republican if said voter wasn't in the top 1% nor part of the oil/military industrial complex?
     
    #316     May 11, 2016
  7. gwb-trading

    gwb-trading

    CEO of a tech company is moving his operations, from Kansas to Missouri, saying "Nowhere has there been as thorough an implementation of Laffer's policy recommendations (as in KS)- and nowhere has there been as dramatic a failure of government"

    ‘Resign in shame’: Fed-up Kansas CEO flees GOP governor’s disastrous reign
    http://www.rawstory.com/2016/06/res...sas-ceo-flees-gop-governors-disastrous-reign/

    A tech CEO blamed Kansas Gov. Sam Brownback and his ultra-conservative policies for his decision to move his company — and its jobs — to another state.

    “It’s not so much that I’m moving the company to Missouri as I’m moving it away from Kansas,” said Jeff Blackwood, CEO of Pathfinder Health Innovations.

    Blackwood, whose privately held company provides software to autism therapy centers, wrote a blistering attack of Brownback and the Republican-dominated legislature — which he said had destroyed the state’s economy with failed conservative policies.

    “Kansas has become a test center of ‘trickle down’ economics, espoused by economist Arthur Laffer during the Reagan years,” Blackwood wrote in a personal post on the company’s blog. “Nowhere has there been as thorough an implementation of Laffer’s policy recommendations — and nowhere has there been as dramatic a failure of government.”

    The CEO blasted an unprecedented tax cut enacted in 2012, which Brownback promised would be a “shot of adrenaline” to the state’s economy, but instead has cost Kansas jobs, revenue and its bond rating.

    Kansas has faced budget shortfalls in 11 of the past 12 months, and its economy shrank in three of four quarters last year.


    (More at above url)
     
    #317     Jun 17, 2016
  8. fhl

    fhl


    According to the article on this, he's moving just across the state line to Kansas City. That is going to help his business get more revenue? lol

    According to this article, the state of Missouri is throwing money at tech companies to get them to relocate to Kansas City.
    http://www.govtech.com/dc/articles/Why-Are-So-Many-Tech-Companies-Moving-to-Kansas-City-Mo.html

    Just another case of the gov't making investment decisions for the people of their states. You can give money to companies to dig holes in the ground and it doesn't do anything for the state. It just wastes the taxpayer's money. A proper return on analysis is required to see if the investment has merit. And that sidesteps the entire issue of whether the state should extract money from it's citizens and usurp the right to invest it for them. Something I will never ever ever ever concede in a billion years.

    The exec of this company is obviously a liberal and decided to take the free money that Missouri is handing out to relocate there and pretend that conservative policies in Ks were the real cause.
     
    #318     Jun 17, 2016
  9. gwb-trading

    gwb-trading

    This is at least the fifth tech company that has left Kansas citing the failure of government in Kansas.

    None of them took any government incentives to move.
     
    #319     Jun 17, 2016
  10. Tens of thosuands of small and large businessmen have fled California, NY, New England, the upper Midwest and Maryland. GWB's home town of Cary, NC is probably 50% refugees from NY and NJ. Where are all the media articles lamenting the idiotic policies that forced these job creators to leave?
     
    #320     Jun 17, 2016
    murray t turtle likes this.