Tuesday, September 1, 2015

Jobs Still Ain't Trickling Down After Tax Cuts In Kansas

It's been a while since I wrote about the state of Kansas' economy under the illustrious leadership of Governor Sam Brownback. So I decided to browse the pages of the Kansas City Star, and got an answer:

This has been a bad week for Gov. Sam Brownback and others who believe his massive income tax cuts are going to dramatically boost employment in the state.

▪ A new report Friday showed that Kansas had lost a whopping 4,300 jobs in July from a month earlier.

The unemployment rate climbed for the fourth straight month, up to 4.6 percent, according to the federal Bureau of Labor Statistics.

And look at this disastrous note: The Sunflower State now has 1,700 fewer jobs than it did at the start of 2015.

One more fact from the latest report shows that Kansas has added a puny 5,600 total jobs in the last year — from July 2014 to July 2015.

Ouch. Those numbers are brutal. Who would have thought providing the job creators with massive tax cuts meant that they wouldn't necessarily use that extra money to hire people that they didn't really need to begin with?

Also, one thing I really love about this particular failed experiment in supply-side economics is that unlike in say, Texas, Kansas doesn't have the fortuitousness of being located right above massive petroleum deposits (or at least, deposits that aren't as big as Texas'), to fall back on. Conservatives love to pont to the Lone Star State as the quintessential example of SSE supposedly working in real life. But any economic success Texas has, is more than likely due to to the plethora of oil beneath them rather than any inane tax cut. Without any artificial factors like that propping up Kansas, we see the true effects of conservative economic theory.

But hey, I'm sure all that wealth will eventually trickle down. Some day.

more here: http://www.kansascity.com/opinion/opn-columns-blogs/yael-t-abouhalkah/article31716450.html#storylink=cpy

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