Really happy to see the Kansas legislature reject the predictably failed supply-side tax cut “experiment” that’s been whacking the state’s coffers since 2012. Over at WaPo but one extra note here.
I’ve heard some supporters of the cuts–and there are surprisingly few, which I consider another gain for humanity–argue: “But KS is adding jobs; GDP is up; just give it a chance!”
This is absolute gibberish. It is a completely meaningless defense. We are in year eight of an economic recovery. Job growth is up most everywhere, in places that have raised their taxes and lowered them. In fact, if you want to get technical, economic indicator in KS look like nothing special compared to the nation.
The only thing you can be sure of re tax cuts is the first order effect: revenue losses. Beyond that, linkages between tax changes and growth are 98.8% phony rhetoric, 1.2% ambiguous economics. The KS legislature learned that the hard way, but at least they learned it.