Monday, May 15, 2017

The Trump Crunch Starts Coming Down in Kansas

We have reviewed previously how Obama did nothing to repair the tax rates after the gross manipulations by Ronald Reagan (i.e. twice) but he kept things generally alive with some infusions of Federal dollars to the states.  Donald Trump also did nothing to increase tax rates but he's also cutting off Federal dollars to the states and that's when the crunch of the Reagan tax cuts comes down for real.

The Guardian:  'We are a cautionary tale': Kansas feels the pain of massive Trump-style tax cuts

Ed:  I thought The Guardian was mostly just for the pictures?

It is but some of the articles are ok.  Conversely, others are bloody rubbish.  Hmm ... I just looked and most of the neoliberal femmes are gone or silent.  No loss as they contributed nothing of value since I already know I'm shit.

The Kansas state capitol in Topeka has just undergone a $325m facelift – but the rest of the state is out of money. 

Photograph: Dominic Rushe for the Guardian

WTF as they could just sell off the state capitol building and make a disco out of it.  Could be cool.

Kansas is broke – but you wouldn’t guess it looking at its shining state capitol in Topeka. The imposing limestone monument, crowned by a shiny copper dome and limned with John Steuart Curry’s luminous murals, has just undergone a $325m facelift. What’s happening inside the state house is a lot less pretty, and may well foreshadow the far uglier battle looming over the future of taxation in the United States.

Last month, Donald Trump’s two key economic allies, treasury secretary Stephen Mnuchin and chief economic adviser Gary Cohn, unveiled the outline of Donald Trump’s much-trailed tax plan. The biggest tax cuts “in history” would slash taxes for business, simplify taxes for everyone else, and “pay for themselves” by stimulating economic growth, Trump’s fiscal duo claimed.

The plan’s similarity to the one that has left Kansas in crisis is “unbelievable”, according to Duane Goossen, the former Kansas secretary of administration.

- Guardian

Of course it looks familiar since it's the same damn thing Reaganites have been pitching for over thirty years while the national debt went to the stratosphere.

Neither Clinton nor Bush nor Obama did anything about the problem and you see Trump won't so guess what, Kansas; you're fucked.  Que sera sera.  You wanted the bitch and now you've got him.

Suck it.  You were warned but you knew better.  Live with it, bitches.

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