The Republican North Carolina General Assembly is doing their best to become the new Kansas. To misquote The Republican President, “You don’t want to be Kansas, believe me.”
In 2012, California raised taxes on millionaires to 13.2%. Their economy grew by 4.1% in 2015.
The same year, Kansas cut income and sales tax rates. In 2015 the Kansas economy grew by 0.2% of a percent. In doing that, the lowest income people in Kansas, those making less than 23,000 per year, saw a net tax increase of $200. Not much you might say.
But the top 1% of Kansans saw a tax reduction on average of $25,000. Oh, and by the way, the Kansas GDP is below 2011 levels.
The Republican Governor said he would increase jobs in Kansas by 100,000. It has increased by 32,000 which ranks 45th of all the states.
This is what the Koch Brothers / ALEC NC Legislators are trying to do in the Tarheel State. Just ask Jason Saine, ALEC’s Legislator of the Year.
- Since it took effect in January 2013, total employment in Kansas has risen only 2.6 percent, compared to 6.5 percent
nationally. Private sector employment in Kansas has risen 3.5 percent, compared to 7.6 percent nationally.
- The state’s economy has grown less than half as fast as the national economy; Kansas’ gross domestic product (GDP) grew 4.8 percent from the end of 2012 through the first quarter of 2016, while national GDP rose 11.9 percent.
- Kansas’ share of newly opened business establishments in the United States has actually declined slightly rather than increased.
- Nationally, total nonfarm employment since January 2013 has grown by 5.9 percent – far outpacing Kansas’ 3.3 percent growth rate.Looking at just private-sector jobs, the U.S. growth rate has been 6.9 percent – way above the 4.3 percent of the Sunflower State.http://www.cbpp.org/research/federal-tax/kansas-tax-cut-experience-refutes-economic-growth-predictions-of-trump-tax
This is what our State Government is trying to do. Doesn’t that make you feel just peachy?