Brownback signs big tax cut in Kansas

[Seedersandleechers]

Source: Kansas City Star

Kansas Gov. Sam Brownback took a grand gamble Tuesday with a monumental tax plan that he hopes will spur an economic revival and not an unparalleled budget crisis that leaves state services in ruins.

While it wasn’t the plan Brownback quite wanted, the bill he signed Tuesday slashes state income taxes by roughly $3.7 billion over five years, with state fiscal analysts projecting budget deficits reaching $2.5 billion in 2018.

It’s described by one lawmaker as the “worst tax bill” to come out of the statehouse. Brownback, in contrast, saw it as a chance for the state to remake its business climate.

“We’re going to move this forward and make it work and take care of our fundamental services,” said Brownback, whose original plan for cutting taxes did more to pay for itself.

Plenty of skeptics believe that the governor’s approach will decimate state services. They point to forecasts showing that the tax plan will drown Topeka in billions of dollars in red ink.



Read more: http://www.kansascity.com/2012/05/22/3622893/brownback-signs-tax-cuts-that.html

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I don't live in Kansas but I work in Kansas and therefore pay Kansas state taxes. I feel sorry for all people who will lose out on much needed services while the Koch brothers will have more money to spend on elections.

[lastlib]

1. Brownback needs two facebook pages--one for each face...

[BeyondGeography]

2. Kamikaze supply siders

Wonder how that'll work out...

[hatrack]

3. Win-Win for Brownboy . . .

If it spurs an "economic revival" he gets to take credit for it, and if it decimates state services, that's fine with him and the rest of the occupants of the Norquist Clown Car.

[RKP5637]

4. Brownback probably feels it will get Kansas first in line for the rapture in

the emerging land of dystopia as his tax plan kicks in and the services fail. There will be little left of KS by the time Brownback finishes.

[kaiden]

5. When is his term up?

[RKP5637]

6. Two more years to go. And many feel he will be reelected again in two years. The dems

in KS can't seem to provide an electable alternative and someone recently told me the DNC is of no help in trying to swing KS democratic. I can see that, the red here runs pretty deep for years. DNC well might feel it's not worth the effort to invest in KS. I don't know ...