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States can offer a lesson as GOP proposes deep cut taxes
Cutting taxes to boost the economy has slowed growth and widened budget gaps
LITTLE ROCK, Ark. — President-elect Donald Trump and congressional Republicans who have pledged to cut federal taxes to boost the economy might consider looking first at lessons learned in GOP-controlled states that adopted similar strategies, only to see growth falter and budget gaps widen.
The situation is worrisome enough in Kansas, Oklahoma and Indiana that lawmakers are now debating whether to reverse course and raise taxes. And political leaders in states that have seen expanded Republican control, such as Arkansas and Iowa, are signaling caution about any new tax-cut proposals.
“It does not take a Ph.D. in economics to know that we can’t say yes to every spending need, and we should also not say yes to every tax-cut idea,” Arkansas Gov. Asa Hutchinson warned late last year.
The reforms show that tax changes always carry an element of uncertainty — about the economy, government needs and even the prices of commodities such as oil. Although the federal and state tax systems are significantly different, both are subject to forces beyond lawmakers’ control.
http://www.tulsaworld.com/ap/national/states-can-offer-a-lesson-as-gop-proposes-deep-cut/article_e613a8d9-f094-5d86-ad02-f8d1854c4841.html
Its about fucking time someone starts writing these kinds of articles so the deplorables can see how much of a fool they've been played for.
ETA: Oklahoma just recently, a few years ago, this same tactic and now we're laying off teacher, our highway patrols are now setting on the side of the road because they can't afford gas, as they're retiring they're not being replaced and on and on. this cut taxes for the little man always puts us in a bind cause the big man gets that same tax cut, to be fair etc. Anyways a 1 or 2 percent tax cut for the poor doesn't amount to shit but that same 1or 2 percent for the rich man is some serious jingle. When the fuck are people going to wake the hell up and call a ripoff what it is, a ripoff.
