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Kansas

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Maxheader

(4,399 posts)
Tue Jul 3, 2018, 06:55 AM Jul 2018

Brownbutts "experiment" [View all]

To eliminate state taxes for kansaas business? Lost 5 billion in revenues
from that....
https://www.google.com/search?source=hp&ei=e2I7W4_jC4iYsQWWtaVw&q=kansas+governor+brownbacks+cuts&oq=kansas+governor+brownbacks+cuts&gs_l=psy-ab.3...5864.19345.0.19670.34.22.0.0.0.0.0.0..0.0....0...1c.1.64.psy-ab..34.0.0.0...0.RuzdsjbVUPQ

And since that experiment was eliminated;

Kansas tax reform drives $1.2 billion growth in annual revenue collections


The state of Kansas wrapped up the fiscal year by collecting $1.21 billion more in tax revenue than the previous year following repeal of controversial income tax policies derived from supply-side economic theory and championed by former Gov. Sam Brownback.

Income and sales tax receipts in the 12-month budget year ending June 30 exceeded projections of legislative budget analysts by more than $300 million.


And the result?

Action by the 2017 Legislature to repeal the income tax exemption for owners of 330,000 businesses and to raise individual income tax rates, despite Brownback’s veto of the bill, helped lawmakers stabilize the budget and respond to a Kansas Supreme Court decision requiring larger investment in K-12 public schools. Modest improvement in the state’s economy is considered a contributing factor to overall revenue expansion.


And guess who wants to roll back that income tax raise?

Secretary of State Kris Kobach, who is campaigning for the Republican gubernatorial nomination, said a spike in revenue $317 million beyond the anticipated annual increase demonstrated the need for lower taxes.


what a moron..
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