The Republican-controlled house and senates of Kansas voted to increase taxes and to override the governor's veto of a bill to increase taxes.
The current governor pushed through tax cuts, intended to grow Kansas' economy, but during the tax cuts, Kansas' growth was lower than the country's overall growth.
The increase follows years in which the state was unable to balance its budget, and the funding for education was found to be unconstitutionally low.
In my view, state budgets are likely to take a hit from Trump's stealth tax increase: by reducing funding for programs and forcing the states to step in, the states will have to find extra money to fill the gaps.
(Score: 3, Insightful) by Thexalon on Friday June 09 2017, @12:49PM (1 child)
Yes, yes, all taxes are evil, we get it.
That carefully ignores my point, which is that the governments' ability to change investors' minds about where to put their money is far smaller than other factors like customer demand for the product and how efficient the company is at producing said product.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 1) by khallow on Friday June 09 2017, @06:02PM
That still means it is a big factor even if there are larger factors out there. And taking 20% of investors' profits in the above example, means they have 20% less to invest elsewhere, including the consequences such as creating more jobs and more things of value. The opportunity costs of taxes are routinely ignored.