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Charlatans, Cranks and Kansas - Article Example

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He did it without paying attention to the source of the lost revenues which could have been brought in by the taxes. This has had a great impact on the economy of Kansas leaving…
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Charlatans, Cranks and Kansas
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Charlatans’ cranks and Kansas The governor of the Kansas Sam Brown came up with a proposal to slash large tax bypercentages. He did it without paying attention to the source of the lost revenues which could have been brought in by the taxes. This has had a great impact on the economy of Kansas leaving it lagging behind of the neighboring states and the country as a whole. In fact, the country is having deficits in its national budget. The cut of taxes has downplayed the economy of Kansas as it was predicted. This can be a lesson for other states with the power of bad ideas that serve the right people who are protected by the laws. The idea was deemed to fail owing to the past experience from the Ronald Reagan and Bill Clinton regime nationally. They cut taxes on the advice of economist who said that it would boost the economy, a factor that did not materialize. The policy in Kansas did not emerge from this air, it was promoted by the charlatans who are the major beneficially to the tax cuts (Krugman, 1).
The scraping of taxes on the large corporation does not in any way improve the economic growth of the state. Instead it leaves the middle and lower income earners with the burden of paying the additional taxes as consumers of goods at the retail to finance the state budget. This selfish move by the elite people, are the major reasons for the ever gaping gap between the rich and the poor in the American society.
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Krugman, Paul. 29 06 2014. New York Times. 09 02 2015. Read More
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