The opposite of Brownback

[EVT1]

As if any more proof was needed to bury trickle down once and for all:

www.huffingtonpost.com/carl-gibson/mark-dayton-minnesota-economy_b_6737786.html

I know it is Huffpost- so I am sure it is all lies

     When he took office in January of 2011, Minnesota governor Mark Dayton inherited a $6.2 billion budget deficit and a 7 percent unemployment rate from his predecessor, Tim Pawlenty, the soon-forgotten Republican candidate for the presidency who called himself Minnesota's first true fiscally-conservative governor in modern history. Pawlenty prided himself on never raising state taxes -- the most he ever did to generate new revenue was increase the tax on cigarettes by 75 cents a pack. Between 2003 and late 2010, when Pawlenty was at the head of Minnesota's state government, he managed to add only 6,200 more jobs.    

     During his first four years in office, Gov. Dayton raised the state income tax from 7.85 to 9.85 percent on individuals earning over $150,000, and on couples earning over $250,000 when filing jointly -- a tax increase of $2.1 billion. He's also agreed to raise Minnesota's minimum wage to $9.50 an hour by 2018, and passed a state law guaranteeing equal pay for women.

     Between 2011 and 2015, Gov. Dayton added 172,000 new jobs to Minnesota's economy -- that's 165,800 more jobs in Dayton's first term than Pawlenty added in both of his terms combined. Even though Minnesota's top income tax rate is the 4th-highest in the country, it has the 5th-lowest unemployment rate in the country at 3.6 percent. According to 2012-2013 U.S. census figures, Minnesotans had a median income that was $10,000 larger than the U.S. average, and their median income is still $8,000 more than the U.S. average today.

So how is the trickle down paradise of Kansas doing

[mmhmm]

Feb 28, 2015 10:27:01 GMT -5 Ratchets said:

Congrats on having the highest tax rate in the country lol!

Pretty sure that honor goes to New Jersey and New York.

[EVT1]

Feb 28, 2015 10:27:01 GMT -5 Ratchets said:

Congrats on having the highest tax rate in the country lol!

Ahhh- so you prefer the lowest tax rate- where the bills don't get paid.  Smart plan

     Before the end of the fiscal year this summer, Brownback will need to trim $279 million from the current budget. Brownback's proposal would take $100 million away from spending on the state's highways and use a bit of numbers jujitsu to tinker with pension spending. But these tweaks will only carry the state through the current year. As further tax cuts phase in over time—the state's income tax rate, which has already fallen from 6.45 percent to 4.9 percent, is set to fall another point by 2018—the gap between spending commitments and revenue will only grow more dire. For fiscal year 2016, which starts in July, state legislators will need to slash an additional $650 million, according to the legislature's research office. Standard & Poor's and Moody's, two of the top three credit-ratings agencies, downgraded the state's credit rating last year due to the budget woes.

www.motherjones.com/politics/2015/01/sam-brownback-kansas-tax-cuts-failing

[EVT1]

www.kansascity.com/opinion/opn-columns-blogs/steve-rose/article7024256.html

     Celebrity economist Arthur Laffer told me in an interview last week that he was not surprised by the huge deficits Kansas is facing because of massive tax cuts.

     Back in August 2012, Laffer told a crowd at the Johnson County Community College, if Kansas would slash its income tax rates, it would result in “enormous prosperity.”

     Two-and-a-half years later, Kansas is staring at a budget crisis, with more than a billion dollar gap between revenues and expenses projected in the current and next budget years. The state is also experiencing a low private job growth rate, as well as a slow-growing economy.

     In a 45-minute phone interview, Laffer said while he is “not surprised,” he didn’t know why the deficits have occurred. He still believes adamantly in his supply-side economic theory: If you reduce income taxes, you will raise more revenue, not less.

    The 74-year-old former economist for President Ronald Reagan, who remains controversial among mainstream economists, was paid $75,000 to consult with Brownback and his staff before the tax-cut legislation passed in 2012.

 Now there is $75,000 wasted.

[Deleted]

Do you think the state of the national economy might have had a big effect on the statistics you cite?

[djAdvocate]

Feb 28, 2015 11:35:03 GMT -5 mmhmm said:

Feb 28, 2015 10:27:01 GMT -5 Ratchets said:

Congrats on having the highest tax rate in the country lol!

Pretty sure that honor goes to New Jersey and New York.

California is 3rd, i believe.

[djAdvocate]

Feb 28, 2015 14:14:03 GMT -5 EVT1 said:

Feb 28, 2015 10:27:01 GMT -5 Ratchets said:

Congrats on having the highest tax rate in the country lol!

Ahhh- so you prefer the lowest tax rate- where the bills don't get paid.  Smart plan

     Before the end of the fiscal year this summer, Brownback will need to trim $279 million from the current budget. Brownback's proposal would take $100 million away from spending on the state's highways and use a bit of numbers jujitsu to tinker with pension spending. But these tweaks will only carry the state through the current year. As further tax cuts phase in over time—the state's income tax rate, which has already fallen from 6.45 percent to 4.9 percent, is set to fall another point by 2018—the gap between spending commitments and revenue will only grow more dire. For fiscal year 2016, which starts in July, state legislators will need to slash an additional $650 million, according to the legislature's research office. Standard & Poor's and Moody's, two of the top three credit-ratings agencies, downgraded the state's credit rating last year due to the budget woes.

www.motherjones.com/politics/2015/01/sam-brownback-kansas-tax-cuts-failing

you mean cutting revenues increases deficits?  SHOCKING!  SHOCKING, i say!

[djAdvocate]

Mar 1, 2015 13:06:20 GMT -5 @hickle said:

Do you think the state of the national economy might have had a big effect on the statistics you cite?

most states who have NOT employed trickle down economics are doing better than Kansas, even though they are all part of the "national economy".  does that make sense?

[busymom]

You gotta spend money to make money! KWIM?

I wish I could remember where I read the article, but there was a good one out this weekend that compared Minnesota's economy to Wisconsin's (Scott Walker).  Seriously, after reading that, I can only pray that Walker DOES NOT get on the Republican ticket for President.  (If I find the article again, I'll post it here.)

[djAdvocate]

Mar 1, 2015 17:24:04 GMT -5 busymom said:

You gotta spend money to make money! KWIM?

I wish I could remember where I read the article, but there was a good one out this weekend that compared Minnesota's economy to Wisconsin's (Scott Walker).  Seriously, after reading that, I can only pray that Walker DOES NOT get on the Republican ticket for President.  (If I find the article again, I'll post it here.)

that is another under-performing economy.  why they keep him in office is beyond me.