Since the Gilded Age, Republicans have hated taxes of all sorts. (OK, none of us love taxes, but some of us understand their necessity and utility. They are the price we pay for a decent civilized society.) Many in the GOP are still under the thrall of Trickle Down Economics, the Reagan-era zombie lie. Perhaps the California-Kansas contrast will cause some conservatives to snap out of it!
In 2012, California raised taxes on the wealthy, creating one of the highest tax rates in the U.S. -- 13.3% on individual taxable income over $1 million per year. Conservatives freaked out, and promised an economic Armageddon for the Golden State. Per a recent Washington Post report:
"California grew just fine the year the tax hike took effect. In 2015, California's economy grew by 4.1%, according to new numbers from the Bureau of Economic Analysis, tying it with Oregon for the fastest state growth for the year. That was up from 3.1% growth in California in 2014, which was near the top of national pack."
"The Kansas economy, on the other hand, grew just 0.2% in 2015. That's down from 1.2% in 2014, and below neighboring states such as Nebraska (2.1%) and Missouri (1.2%). Kansas ended the year with two consecutive quarters of negative growth -- a shrinking economy. By common definition of the term, the state entered 2016 in a recession. Kansas' GDP is still less than it was in 2011. Meanwhile, the economy in the rest of the country continues to expand."
Have conservatives been properly chastened by this? Have they learned a goddam thing?
What do you think?
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