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Steve McIntosh Report Blog



Kansas tax collections dropping

Kansans are paying less in state taxes. Collections in October were 18 million dollars less than expected. Since the current fiscal year began in July, taxes have fallen 27 million dollars short of expectations. Tax collections are 19% less than during the same period in 2012.
Why the revenue shortfall? Governor Brownback and the state legislature have cut income taxes for businesses and individuals. Of course, that means less money for state programs. The governor promises the income tax cuts will generate jobs in Kansas … lots of jobs … and a booming economy in a pro-business environment.
But so far, the jobs have not appeared. And local governments are looking at raising sales and property taxes to maintain services to their citizens.
Come January, Kansas lawmakers will be dealing with a lot less revenue. Where will they cut spending? How will cuts impact Kansans?
The biggest question of all: where are all the jobs and the booming economy?
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Our thought for today is from Tom Peters:
 
“Underpromise; overdeilver.”


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Topics : Business_Finance
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Locations : Kansas
People : BrownbackTom Peters




 
11/07/2013 1:30AM
Kansas tax collections dropping
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