Sunday, February 26, 2012
(graphic: foodnetworkhumor.com)
It seems that the 1% have some pretty enthusiastic fans in the Kansas legislature. Last week, the state House Committee on Taxation approved a bill to raise taxes on the poor and cut them for the rich. Specifically, those making less than $25,000 a year—roughly one out of six Kansans—will pay $71.80 more in taxes every year, while those making more than $250,000—less than 1% of Kansans—will pay $1,500 less, according to Kansas Department of Revenue estimates.
As regressive as the bill is, it is actually an improvement on the plan released in January by Republican Governor Sam Brownback, under which those making less than $25,000 would have paid $156 more in yearly taxes, while the 1% making more than $250,000 would have paid $5,200 less each year. The Brownback plan would have taken $78 million from the bottom sixth, and given $109.2 million to the Kansas 1%, while the Tax Committee plan would transfer $35.9 and $31.5 million, respectively.
Kansas Democrats, perhaps sensing that economic fairness might be a winning issue in November, have criticized these proposals sharply. “It’s been Robin Hood in reverse,” said Senate Minority Leader Anthony Hensley (D-Topeka), characterizing Brownback’s original plan as “stealing from the poor to give to the rich.” Republicans, backed up by supply-side economics guru Arthur Laffer, claim that tax cuts for the wealthy will yield increased investment in the economy and eventually more jobs.
-Matt Bewig
To Learn More:
Brownback Tax Plan Would Hit Impoverished Kansans the Hardest (by Brad Cooper, Kansas City Star)
Kansas Considers Tax Cuts for Most Residents--Except Poorest (Matt Pierce, Los Angeles Times)
Amended Kansas Tax Plan Increases Burden on Poor (by Brad Cooper, Kansas City Star)
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