2014/03/29/Impact of Massive Tax Cuts on Kansas Offers a Warning to Wisconsin
- when: 2014/03/29
- author: wendy taddy
- source: Daily Kos
- topics: US/WI US/KS taxation tax cut economic disparity Center on Budget and Policy Priorities
- keywords
- link: http://www.dailykos.com/story/2014/03/29/1288180/-Impact-of-Massive-Tax-Cuts-on-Kansas-Offers-a-Warning-to-Wisconsin#
- title: Impact of Massive Tax Cuts on Kansas Offers a Warning to Wisconsin
- summary: "The massive tax cuts in Kansas have deepened the damage done to schools, colleges and universities, and other key services by the recession and have failed to improve Kansas's economic performance, according to a new report from the nonpartisan Center on Budget and Policy Priorities. Kansas should serve as a cautionary tale for Wisconsin, not a model."
The tax cuts passed in Kansas are larger than the ones that have been passed in Wisconsin starting in 2011, but otherwise they share many characteristics. In both states, tax cuts helped the rich much more than most state residents, making income inequality worse. And both states have recently raised taxes on low-income families working to climb into the middle class.
We already know that a series of tax cuts in Wisconsin have done little to improve the state's economy. Despite claims that cutting taxes would spur job creation, Wisconsin continues to lag the national and regional averages in job growth. Personal income has grown more slowly than the national average, according to new figures released this week. The loss of revenue caused by the tax cuts contributed to deep cuts in state support for schools, ranking Wisconsin among the states that have made the steepest cuts to education. This loss of investment in Wisconsin's future workforce will have long-term damaging effects on the economy.