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Voodoo economics in Kansas


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#11 salsabob

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Posted 21 April 2015 - 03:31 PM

diogenes227, I agree with you and Barry Ritholtz. I think a constructive debate on this topic might change some minds but I'm not in the mood right now to contribute to that debate.

Best of luck to you in spreading truth. It's going to be a long road to educating others.

Apollo


Educating them is not possible; their right-side amygdala (primitive, xenophobic emotional fight-or-flight) overrides their cerebral lobes (facts, logic, rational thought). It's made obvious in their constant posting of apocalyptic scenarios and knee-jerked fears of evil conspiratory government. :rolleyes: One big tip off is their ignoring actual data and instead providing only unsupported and questionable anecdotes without a thought of a critique.

The silver lining - markets would be fairly boring and a lot less profitable without them. My advice - just sit back and enjoy taking their money - it is very satisfying. :yes:

Edited by salsabob, 21 April 2015 - 03:32 PM.

John Galt shrugged, outsourced to Red China and opened a hedge fund for unregulated securitized credit derivatives.

If the world didn't suck, wouldn't we all just fly off?

#12 diogenes227

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Posted 18 July 2015 - 08:33 PM

The latest from Kansas. Headlines beginning to echo Roger's beloved Detroit from over on the other side of the rainbow...

The Kansas Race To The Bottom

Apparently the Governor has been using God's name on the plain... From the link:

God speaks: I think we need to send a message to Kansas. How about killing all the firstborns? That helped Moses. No, I promised my beloved son that there would be no more genocide, no more lightning bolts. However insulted I feel – I must just turn the other cheek. But this cretin keeps acting in my name; surely I can subtly give him a deadly disease – plausible deniability and all that. No, my son can always tell when I am not totally truthful. This is driving me nuts. Perhaps I can write him a letter. No there are rules about that, I cannot provide any evidence that I actually exist – especially since the moment I was persuaded to cease and desist my temper tantrums. Thank God, if I may say so myself, for Valium. But I am the Almighty, the infallible –Jesus cannot stop me from thinking and somehow projecting.

Dear Sam,

Please look to the heavens, I am signalling you that you must die, that I am a bit disappointed with your performance. First I must confirm that hell will freeze over before I ever talk to you I never talk to anyone, certainly not total morons to my creations that are not able to grasp the lessons of my son. He did die for you, I believe. If I were to talk to you it would be to tell you that you are destined to go to hell a less desirable afterlife. So why I am so anxious to see you fry for all eternity change your ways, even though I infallibly know that your DNA will not allow this to happen?

You seem to have forgotten that I sent my beloved son down to help the poor and the sick and to test the wealthy and the privileged. Yet you blasphemously use my name to promote easily provable nonsense. That makes me mad sad because it makes me look like a total idiot I do not care.

Let me try and explain in the simplest possible terms, because even though I endowed you with a brain, you refuse to exercise it and it has thus atrophied to the point of being brain dead a sad burden for you. Have you yet to find an economist that supports your infantile belief in trickle down economics? Here’s the thing, trickle up works approximately 700% better than trickle down. You don’t believe me. You question my infallibility—well at least consider the math provided.

Now here is what happens when you cut taxes...


The rest is in the link but it's mostly numbers and facts (so easy to skip...).

:rolleyes:
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx.

“I spent half my money on gambling, alcohol and wild women. The other half I wasted,” W.C. Fields.

#13 diogenes227

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Posted 28 September 2016 - 12:06 PM

Trickle down getting closer to drying up

 

Kansas is down to two days of reserve funds to run its already thread-bare state government.  The average state has 29.9 days.


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx.

“I spent half my money on gambling, alcohol and wild women. The other half I wasted,” W.C. Fields.

#14 diogenes227

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Posted 12 June 2017 - 02:16 PM

Republicans got everything they ever wanted in Kansas (home of the Koch brothers), tax cuts, tax cuts, tax cuts especially for the rich, stripping the government down to next to nothing, promising jobs created by the flood of companies moving there.  Now, after the years of misery they inflicted on their poor deluded citizens, they have officially voted to throw in the towel - forced finally to admit their idea of trickle down economics (voodoo) simply does not work. 

 

And of course, while Republicans outside of Kansas have gotten the word, they are trying to ignore it. 

 

As Voodoo Economics Fails in Kansas, Trump Takes It National

 

From the link:

 

 

In 2015, Grover Norquist, who has successfully defined unconditional opposition to taxes as the defining tenet of party orthodoxy, waxed enthusiastic about one state in particular that was leading the way for the nation. “Kansas is the future,” he told an interviewer. “Kansas is the model.” Kansas was the state where Sam Brownback, the former congressman who mentored a young staffer named Paul Ryan, implemented supply-side tax cuts that, Brownback promised, would usher in prosperity and fiscal stability.

 

Now Brownback’s tax cuts have failed so dramatically and incontrovertibly that the state’s Republican legislature overrode Brownback’s veto to eliminate them. Incredibly, a majority of the Republicans in both chambers of the state legislature voted against the tax cuts. In a new interview with Russell Berman, Norquist insists the failure in Kansas does not tell us much at all about anything. “If you’re a Republican looking for a model,” he says, “Kansas is not the model.”

 

 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx.

“I spent half my money on gambling, alcohol and wild women. The other half I wasted,” W.C. Fields.