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Re: BullNBear52 post# 354043

Monday, 09/28/2020 1:58:32 PM

Monday, September 28, 2020 1:58:32 PM

Post# of 574777
failure 101

Laffer was an economic adviser to Kansas Governor Sam Brownback, who in 2012 zeroed out state tax liability for approximately 330,000 of the top wage earners in the state, contending it would be a "shot of adrenaline into the heart of the Kansas economy."[36][37] The state, which had previously had a budget surplus, experienced a budget deficit of about $200 million in 2012. Drastic cuts to state funding for education and infrastructure were implemented to close budget deficits and the Kansas economy underperformed relative to neighboring states.[38] Brownback's tax overhaul was described in a June 2017 article in The Atlantic as the United States' "most aggressive experiment in conservative economic policy".[39] The drastic tax cuts had "threatened the viability of schools and infrastructure" in Kansas. The Kansas legislature repealed the tax cut in June 2017, overriding the veto of governor Brownback.[39]

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