News: "Kansas tax revenue plunged $27 million below expectations in December" (Republic: house, unemployment)

[GraniteStater]

Kansas tax revenue plunged $27 million below expectations in December | CJOnline.com

[Mathguy]

So no commentary?

[dfwuno]

The House Speaker says its Obamas fault.....I thought personal responsibility was a keystone to Republicans. Tomorrow I am sure we will hear the Speaker shout....BENGHAZI!!!!!

[GraniteStater]

Originally Posted by Mathguy

So no commentary?

Not too much additionally to say, eventually reality will call and the deflection will end.

[iskerbibel]

If you massively cut taxes... revenues are going to drop massively unless they were prohibitively high to start with (they weren't).

This isn't rocket science. But our state's current political regime prefers dogmatic ideology over reality. It's catching up with them.

[Mattks]

"In total, the state’s tax collections came up 4.37 percent short."

If the state wants to make reduced income taxes viable they should start taxing online retail sales. Many states already do this and I'm confident it will have to happen eventually regardless. Plus I think it would have a slight boost to local businesses.

[Mathguy]

Originally Posted by GraniteStater

Not too much additionally to say, eventually reality will call and the deflection will end.

As someone that makes projections and estimates impact changes I have some insights on this that I've previously shared.

Did you read them or have you ever made such projections?

In short, you make major tax changes and the impact is ESTIMATED based upon the work of the government accountants etc.

That estimate is therefore subject to variation from:
-External economics
-Estimation error
-Public Response to different taxation
-Existing shift in historical distribution materializing

(Plus some more)

Heck, in terms of income tax we don't even know how it's going to true up when it finalizes after returns for the year are filed.

While I do not agree with the taxation changes I find the monthly harping on it to be annoying because it's pretty much an annoying partisan arguing point (Brownbacks team has done this too) and frankly I get tired of seeing people playing with numbers like a monkey with a hammer.

Innumeracy is about as fun to watch as a really fat guy in a thong on the beach.

With all that said if the changes don't balance out then KS will have to tweak taxes\spending again...unlike my home state of Illinois which just ran up debt until now the state is teetering on the brink of sh*thole city.

[denverian]

Originally Posted by dfwuno

The House Speaker says its Obamas fault.....I thought personal responsibility was a keystone to Republicans. Tomorrow I am sure we will hear the Speaker shout....BENGHAZI!!!!!

lol! I guess if you only watch Fox, then you think the economy is horrible Here in Denver, we have 3% unemployment, everyone who I knew that was laid off back in 2009 has been employed for years, cranes are everywhere with new buildings and skyscrapers going up, employers need to offer more money to find new employees, and Republicans are still trying to play the "great recession" card... I imagine it's Obama's fault that Kansas isn't the top tourist-attracting state in the country.

[dfwuno]

Not all Obama's fault. A lot of it was the Clintons, both of them and Chelsea too and that damn cat Socks what did he ever do for KS.

[denverian]

Originally Posted by dfwuno

Not all Obama's fault. A lot of it was the Clintons, both of them and Chelsea too and that damn cat Socks what did he ever do for KS.

Well, yeah, you've got a point with Socks