Biotech Values

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Kansas under brownback. lol

February 2015, three years into the supply-side economics experiment that would upend a once steady Midwestern economy, a hole appeared in Kansas’ finances.
To fill it, Gov. Sam Brownback took $45 million in public education funding. By April of this year, with the hole at $290 million, Brownback took highway money to plug it. A month later, state money for Medicaid coverage went into the hole, but the gap continued to grow.
Today, the state’s budget hole is $345 million and threatens the foundation of this state, which was supposed to be the setting for a grand economic expansion but now more closely resembles a battleground, with accusations and lawsuits flying over how to get the state’s finances in order.
The yawning deficits were caused by huge tax cuts, championed by Brownback and the Republican-dominated Legislature, that were supposed set the economy roaring. They didn’t.
Unwilling to scale back the income tax cuts, the state did increase the sales tax. Now Kansas has the second-highest sales tax in the nation, and such reliance on sales taxes has saddled the state with additional problems: Deflation is dropping the prices of goods and the taxes the state collects on them.
Tired of the bleating horn of bad news, in September Brownback silenced a quarterly economic evaluation of the state that counted employment, unemployment, personal income and energy production, and consistently illustrated the state’s plunging revenues. He had done so before, in August 2015, when he ordered a halt to a semiannual economic report.

http://www.latimes.com/nation/la-na-kansas-hard-times-snap-20161121-story.html