Kansas and the Laffer Curve...

The fact that informed people understand the correlation between buying a candidate and controlling that candidate?

And also demonstrated why it's useless. It tells us at most, how to maximize revenue. That in itself doesn't determine optimal tax rates, since we usually do not want maximum revenue.

You've gotta love it: 6 years of Keynesian economics and a perpetual weak economy and the liberals wail that "We need more time! We just didn't tax enough and give enough handouts!" 2 years of trying something else? The liberals will crow that "See!? It doesn't work! We need to tax more and give more handouts!"

They also like to trot out the "It's Bush's fault" card and tell you how much worse things would have been if not for The Obama. But here we have Demi, mixing his apples and oranges. From his own links, Kansas has been on the skids since 2009 or so. But because a policy he disagrees with hasn't instantly reversed things, it is clearly a failure. And the standards he's using to call it a failure are suspect the more I did into them. The state has cut government spending? Clearly it is failing.

In fact ever link I actually dug into revealed cute NYT-style manipulation of the numbers and creative language to come to the conclusions they wanted to come to. Kansas' bond rating went from the second highest to the 3rd highest? Clearly this is because of their eeevil Corporate Fatcat fiscal policy. What (from the linked article) was the last state to get downgraded? That eeevil Corporate Fatcat state of Illinois. What's that? You say Illinois is a haven to Big Government is the solution to all Life's Problems? LOOK OVER THERE! SQUIRREL! Oh, and you're racist.

Typical intellectually dishonest Dummyurge article and now I feel bad for wasting 30 minutes on it instead of just realizing it was Dummyurge and realizing he was being intellectually dishonest.

A "weak economy," he sez.

It's almost like Volpone hasn't read a word in this thread, opting for his standard set of nonsense, just figuring it would apply.

And here.

Or Bill Gates.

And I just explained why it isn't a genuine use, because the facts of which you expect a certain understanding contradict that use.

I see you guys have figured out the problem of what to do it Tex doesn't come back by the time it is his turn to be King of Wordforge. :trollkingdom:

Repost my shiney white tuchas. this is the first time we've seen Laffer given direct power to control taxation, and the fact that it is a debacle should come as no surprise. We've discussed the theory before. This isn't theory - its reality. That's comment worthy.

As to the single comment about Kansas in the midterm thread, you might have noticed nobody picked up on it and there was no additional commentary. Kansas flipping and why deserves its own thread.

If only to watch the usual suspect duck, dodge and belittle.... LOL.

And on the plus side, google kansas laffer curve and we are #7 on the front page.

https://www.google.com/#q=kansas laffer curve

Kansas also happens to be the place that the GOP argued before a Kansas judge to keep a Democratic senate candidate on the ballot after he removed himself from the race. The Democrats understood they couldn't win the seat, but there was a moderate independent that might, so took themselves out of the running. GOP politics being what they are, they refused to remove the Dem candidate, despite that candidate meeting all the guidelines for removal from the ballot. The judge ruled against the GOP.

Independent candidate Greg Orman is leading the GOP candidate Pat Roberts, a 78 year old who has been in the senate since '97.

http://www.cbsnews.com/news/in-kansas-senate-race-independent-greg-orman-becomes-a-contender/

Wow, you just really want to shove it in our face, don't you? Yet you ignore any points I or anyone else made. This is how you sound to me:" ha, ha, low taxes don't work, Keynesian economics is the best, suck it!!" Like a child.

Ironic post is ironic.

What points? That Texas' economy is doing well because it's sitting right on top of huge reserves of lower taxes?

You have to look at it through your Because Obama glasses.

And a 17% poverty rate, which puts it in the top 10 states with a high poverty rate. States with a higher poverty rate include: Georgia, Arizona, Arkansas, New Mexico, Mississippi, and the District of Columbia. (Those are the 2014 figures, FYI.)

Remember, the highlight to larry laffer's career is having a quagmire like video game character named after him.

If low taxes are what caused the boom*, does that mean Texas secretly and dramatically raised taxes recently? Or is there some other explanation for the boom/bust?

http://money.cnn.com/2014/12/18/news/economy/texas-oil-recession/


*Boom at the top, remember even at the height of the 'Texas Miracle', that wealth barely trickled down, it was still a bottom 10 state in terms of % pop below poverty level.

Huh, Texas will be in recession if it isn't already while the states which aren't overly dependent on oil are growing just fine. Can it be any more obvious that Texas was just riding a commodity bubble?

I have very fond memories of playing Leasure Suit Larry.

Flyover states, baby! :lol;

Kansas is trying to fill a budget hole that is around $250 million dollars. California had budget deficit in the $27 billion dollar range just in 2011. Just the increase in California teacher-pension funding is supposed to be $4.5 billion this year.

Relevance?

That California would have killed to have Kansas' budget woes.

Meaningless since you measured in absolute dollar terms rather than a scalable metric. That said, which place is in better financial shape today? (hint, there is an ocean).

That would be Kansas, with only $2,000 of outstanding debt per capita. It's still not as good as places like Wyoming with $71 of debt per capita, but much better than California.

Also irrelevant.

Budget shortfalls are measured as %GDP (in this case StateGDP). In 2014 how do those compare?

Kansas had a $238 million shortfall in 2014, which was $82 per capita, or 0.23 percent of state GDP. California has routinely run deficits around 2 percent of state GDP, around $1,000 per capita. They project they'll try to get out from under all their accumulated debts with payments as high a $7.5 billion a year by 2017.

Okay, you answered half the question, so than_ ___.

In 2014 Kansas had a budget deficit of .23% of state GDP (feel free to show your work).

In 2014 California had a budget deficit of ____ of state GDP (feel free to show your work).