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Monday, January 16, 2017

Jeff City Republicans Seem to Want To Go Down the Kansas Deficit Rabbithole

What is it about these Republicans down in Jefferson City? 

You'd think they could and would look just across the state line, to Kansas and their budgets and budget problems since 2012 with their "trickle down economics" tax cuts for the already-wealthy and corporations and learn their lessons. 

And these were just some of the ugly, unnecessary results:

And there's been plenty of evidence that the path they chose for taxes was a mistake, too, those Kansas Republicans.

California Raised Taxes, Economy Grew 4.1%; Kansas Lowered Taxes, Economy Grew 0.2%

So, with all that history, from 2012, when the Kansas Republicans set all this in motion, to today, do you think Missouri Republicans in our statehouse in Jefferson City would take any and all of it into consideration and respond accordingly?

Wouldn't you?

Oh, heck no. Take a look. This just hit from Yael Abouhalkah on his blog.


Missouri Gov. Eric Greitens on Monday slashed $146 million from the current budget — more than half coming from higher education spending — to try to keep it balanced for the fiscal year.

Missourians and Kansans, both, naturally want to have good education systems but where do state representatives slash the money from when they've screwed up the budget? You guessed it, education. Wonderful. To heck with you students and the state's future, we've got budget cuts to make---for our irresponsibility.

Yael goes on to point out:

...for a guy who keeps telling people he’s going to be a truth-teller, someone not beholden to the old ways of doing business in Jefferson City, Greitens partly misled the public about why he had to do that.

In a message delivered on Twitter, the new Republican chief executive trotted out Obamacare and the “previous administration” as the main culprits for these detailed cuts. Wrong — at least for the most part.

In reality, the budget was approved by the GOP-dominated General Assembly. That’s right: Greitens’ own party.

Plus, slow revenue growth has caused some of Missouri’s problems. That’s not because of former Democratic Gov. Jay Nixon or the Affordable Care Act.

That gets us to this inconvenient fact for Greitens and the GOP.

One of the main problems with the current budget has been a collapse in corporate tax revenue. The tax collections dropped more than $150 million last year and are down an estimated $65 million more this year. Why?

Because bills passed in 2013 and 2015 have made it easier for some businesses “to reduce their Missouri tax liability,” according to this detailed explanation from the Missouri Budget Project.

And things could get even worse in the next fiscal year budget, which Greitens plans to unveil in February.

That’s because even more Republican-approved tax cuts (over the veto of Nixon) are expected to kick in by then. The tax reductions could slice state revenues by $50 million in the first year, which isn’t a huge deal.

But the GOP-passed bill calls for bigger tax cuts as the years roll by. The Missouri Budget Project says the fully implemented bill could cost the state “at least $620 million a year….”

The hardest hit in Greiten’s message were major state universities, with up to $76 million in cuts.

Apparently, new Missouri Governor Greitens is being a good, political party Republican so he's not knocking anyone in his party or their actions. That's all well and good but once again, these people need to put their constituents first, not that political party.

So these Republicans, both in Washington and in the state capitols are still, still, to this day bent on, as I said above, "trickle down economics" and how they think it will work. Just to give yet one more huge example of how it doesn't and how it, instead, creates huge deficits, check out red state Oklahoma's current experience:

And again, where do they take the money?

They, Republicans, don't learn. They want to keep slashing taxes for the already-wealthy and corporations, promising it will create jobs and tax revenue.

It doesn't. It patently, absolutely does not. It does neither.

This, ladies and gentlemen, is "trickle down economics", let there be no doubt.


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