Three Lessons from the Tax Defeat in Kansas

Leftists don ’t have many reasons to be cheerful.Global economic developmentskeep demonstrating (over andover again) that big government and high taxes are not arecipe for prosperity. That can ’t be very encouraging for them.They also can ’t be very happy about the Obama presidency. Yes, he was one of them, and he was able to impose a lot of his agenda in his first two years. But that experiment with bigger government producedvery dismal results. And it also was a political disaster for the left since Republicans won landslide elections in2010 and2014 (you could also argue thatTrump ’s election in 2016 was a repudiation of Obama and the left, though I think it was more a rejection of the status quo).But there is one piece of good news for my statist friends. The tax cuts in Kansas have been partially repealed. TheNew York Times isoverjoyed by this development.The Republican Legislature and much of Kansas has finally turned on Gov. Sam Brownback in his disastrous five-year experiment to prove the Republicans ’ “trickle down” fantasy can work in real life — that huge tax cuts magically result in economic growth and more, not less, revenue. …state lawmakers who once abetted the Brownback budgeting folly passed a two-year, $1.2 billion tax increase this week to begin repairing the damage. …It w ill take years for Kansas to recover.And you won ’t be surprised to learn that Paul Krugman also is pleased. Here ’s some of what he wrote in hisNYTcolumn.…there ...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs