Brownbackistan… The Failed Kansas Experiment

Posted on June 1, 2015


A budget deficit, estimated at $400 million to $800 million,  thanks to tax cuts for the wealthy…  Eight school districts have closed up to 12 days early… A reduction in credit ratings. The Kansas experiment in supply-side economics – giving massive tax cuts to the rich to try to spur investment and, as the theory goes, to create greater economic activity leading to increased tax revenues – has been a miserable failure.

Supply-side economics failed in the 1980’s on a national scale under President Reagan, and has failed in every iteration in which it has been tried, including the 2000’s with President George W. Bush.  However, the Austrians and Supply-siders think their magic bullet is infallible, despite being confronted with massive suffering by their constituents. Their predictions of runaway, Wiemar-type inflation since the Great Recession has failed to bear fruit, but the only way to make it through a GOP primary is to continue spouting supply-side nonsense.

With no evidence of any revenue boost from supply-side actions, and plenty of evidence – at least 400,000 – to the contrary, why don’t Republicans simply raise taxes and govern like sane legislators? Perhaps, the days of Brownbackistan are over… but it’s doubtful.

Posted in: Economics