Kansas Governor Cuts Taxes, Job Growth EXPLODES
When Republican Kansas Gov. Sam Brownback decided to cut taxes rates in hopes of stimulating job growth, liberals all across the country started slamming him for it, calling his agenda a failure.
Apparently liberals don’t read good — remember Zoolander? — because they obviously have no idea what the word “failure” even means, despite having the walking definition of the term sitting in the White House before their very eyes.
Those wonderful progressive loonies will be eating a steaming helping of crow, as it turns out, Brownback’s tax cuts are working.
Who would’ve, thought?
From Investor’s Business Daily:
From the New York Times to the Kansas City Star, Brownback’s agenda was denounced as a failure and a warning to others of what happens when you try to ride the Laffer Curve and cut taxes.
Here’s what you won’t read today: The tax cut is working. Labor Department data show job growth in Kansas tied with Utah as the fastest in the nation in February.
Back in 2012, Brownback cut the highest income-tax rate from 6.4% to 4.8% with the goal of eventually eliminating the state income tax entirely. The tax on small business income was zeroed out. It was denounced as “trickle-down economics,” though the state’s unemployment rate is now down to 4.5%.
“The number one complaint I’m hearing now,” Brownback tells us, “is we can’t find the workers. That’s a good problem to have.”
Where the jobs are really showing up is on the Kansas side of Kansas City. Because tax rates are lower in Kansas than in Missouri, the Kansas side of the metro area produced twice as many jobs as the Missouri side from 2012 to 2014.
Wages are also growing in Kansas. Before the tax cut, workers on KC’s Kansas side earned 40 cents an hour more than Missouri workers. Now the gap is $3.
What a novel concept!
I can’t believe no one has ever thought of reducing taxes on small businesses so they can actually make a profit, expand their companies, and create jobs!
Who knew, right??
I’m laying the sarcasm on thick because conservatives have been touting the benefits of reduced taxes for job growth and economic stimulation since, well, forever.
I mean, this is common sense. If a business is paying high taxes, that’s a bigger chunk taken out of potential profits, which means there’s less money available for business owners to use for expansion. Most would be lucky just to make ends meet and keep the doors open.
When you reduce taxes, it frees up cash, which allows companies to grow, which translates into more jobs created, which then translates to lower unemployment, and people having more money to spend at local businesses.
Thus, the economic circle of life is complete. And to think, you got this all for free without me doing a horrifying rendition of the “Circle of Life” from The Lion King.
This isn’t rocket science, yet for some reason, this concept completely flies over the heads of liberals.
Maybe it’s because of the craptastic public school education they’re getting.
Who knows?
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