Monday, July 14, 2014

Kansas Governor Defends Ruinous Tax Cuts

Sam Brownback and Republican legislature in Kansas promised that the huge tax cuts that it made would actually increase tax revenue in the state.  Now the state has to cut spending in response to a huge decline of $338 million in tax revenue.  Instead of admitting that the tax cut failed to promote the promised growth that would lead to increased tax revenue Governor Brownback clings to his belief in what many call voodoo economics.  He claims that the operation was a success but that the patient takes time to heal.  This is a classic case of faith based economic thinking.  True believers like Brownback cling to their beliefs despite disconfirming evidence.

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