Jared Bernstein — One more point about the KS legislature’s KO (Kansas Override) of supply-side tax cut

Not to be a downer, but I’ve have been pessimistic that DC R’s will learn from KS R’s. That’s partly because facts clearly can’t kill trickle-down mythology. The party’s donors want their tax cuts, and they’ll continue to sell snake oil to get them, facts and KS be damned.

But there’s another dynamic in play here which I haven’t seen mentioned: states have to balance their budgets while the federal government does not. So, if they’re willing to accept larger budget deficits, DC R’s can pass tax cuts and not worry about the consequences.

But R’s wouldn’t go that route because they disdain deficits and debt, right?

On the Economy
One more point about the KS legislature’s KO (Kansas Override) of supply-side tax cuts
Jared Bernstein | Senior Fellow at the Center on Budget and Policy Priorities and former Chief Economist and Economic Adviser to Vice President Joe Biden in the Obama Administration