Saturday, October 25, 2014

Conservative Republicans in Kansas "Starve the Beast"

And the experiment is not going well. 


Kansas Faces Additional Revenue Shortfalls After Tax Cuts. (The New York Times, 10/22/2014)

Kansas' "reputable" adherents.
Kansas’ wide miss was probably a result of wading into uncharted territory with its tax reforms. In addition to cutting income tax rates, Kansas made itself the only state with a general personal-income tax that exempts “pass-through income” from tax.

Business entities like S-corporations and limited liability companies are not taxed at the corporate level; instead, their income is passed through to their owners, who then pay personal income tax on the profits in most states — but not Kansas.

The permanent revenue loss reported by the Times may give the Democratic challenger Paul Davis the momentum he needs in the final days of the campaign to defeat incumbent Republican Governor Sam Brownback.



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