Stimulus bill Archives - Voice For Liberty

Jun

The yardstick for the Kansas experiment

A politician's boasting should not be the yardstick for policy. As noted by Ed Flentje in the Wichita Eagle: As a newly elected governor in 2011 Brownback embraced the discredited, tax-cut dogma of Arthur Laffer in the belief that tax cuts would dramatically stimulate economic growth. He told a friendly audience that cutting income tax rates would generate even more revenue for government. Soon after, the governor elevated the bluster. His tax cuts would give “a shot of adrenaline in the heart of the Kansas economy.” “We’ll have a real live experiment.” “Look out Texas. Here comes Kansas!” “Glide path…

Mar

By Bob Weeks

Lessons from Kansas tax reform

What can the rest of the nation learn from our experience in Kansas? Come to think of it, why haven't we learned much? Economists from American Legislative Exchange Council have looked at Kansas and derived some lessons from our state's struggle with tax reform. The document is titled Lessons from Kansas: A Behind the Scenes Look at America’s Most Discussed Tax Reform Effort. A few remarks and quotations: It may be difficult for us in Kansas to see how the rest of the country views our state. But it's all about the struggle between those who want more government, and…

Nov

By Bob Weeks

How would higher Kansas taxes help?

Candidates in Kansas who promise more spending ought to explain just how higher taxes will -- purportedly -- help the Kansas economy. Are low taxes important to an economy, especially a state economy? When the Tax Foundation looked at the issue, it concluded this: "In this review of the literature, I find twenty-six such studies going back to 1983, and all but three of those studies, and every study in the last fifteen years, find a negative effect of taxes on growth."[1. McBride, William. What Is the Evidence on Taxes and Growth? Tax Foundation, 2012. http://taxfoundation.org/article/what-evidence-taxes-and-growth.] Many of these studies…

Oct

By Bob Weeks

Kerr’s attacks on Pompeo’s energy policies fall short

We often see criticism of politicians for sensing "which way the wind blows," that is, shifting their policies to pander to the prevailing interests of important special interest groups. The associated negative connotation is that politicians do this without regard to whether these policies are wise and beneficial for everyone. So when a Member of Congress takes a position that is literally going against the wind in the home district and state, we ought to take notice. Someone has some strong convictions. This is the case with U.S. Representative Mike Pompeo, a Republican representing the Kansas fourth district (Wichita metropolitan…

Oct

By Bob Weeks

The Obama tax cuts

In the presidential debate last week, President Barack Obama spoke of his tax cuts: "So at the same time that my tax plan has already lowered taxes for 98 percent of families, I also lowered taxes for small businesses 18 times. And what I want to do is continue the tax rate -- the tax cuts that we put into place for small businesses and families." Are these Obama tax cuts "real" cuts that will lead to economic growth, or just government spending programs in disguise? For tax cuts to be productive in growing the economy, they have to be…

Dec

By Bob Weeks

The true size of the Obama stimulus

When we think of the "Obama stimulus," most people are referring to the American Recovery and Reinvestment Act of 2009. This legislation called for a variety of fiscal stimulus measures estimated to cost $787 billion at the time the law was passed. The reasoning behind the stimulus comes from a school of thinking known as Keynesian economics, which holds that government should actively and aggressively manage the economy, most importantly by stepping up spending when demand is low. Through this deficit spending, it is said that government action can increase employment. This government spending purportedly accomplishes this through a multiplier…

Sep

By Bob Weeks

Kansas and Wichita quick takes: Friday September 9, 2011

A citizen call to action. This month's meeting of Americans for Prosperity, Kansas focuses on the Douglas Place project in downtown Wichita. Event organizers write: "On September 13, 2011 the Wichita City Council will be holding a public hearing to consider approval of millions of dollars of public incentives being offered to the downtown Douglas Place project developers. Monday's meeting will have these topics: Learn about the incentive programs being offered. ... Learn and consider getting involved in this issue as a citizen. ... Consider testifying before the City Council. ... Attend the council meeting to show your support for…

Sep

By Bob Weeks

Obama job plan not likely to help

In order to help the economy President Barack Obama promises to soon reveal a plan to create jobs. Today's preview before a union audience in Detroit didn't provide many details, but based on the president's past actions and guesses as to what the plan is likely to contain, it's unlikely the plan will work. Various news reports and commentary have mentioned these as possible elements of an Obama jobs plan: A tax credit for hiring new workers. Some sources have suggested the plan might use tax credits to pay companies as much as $5,000 per new worker hired. Another estimate…

Jul

By Bob Weeks

Obama’s tax hikes must be resisted

As our nation's leaders consider the possibility of raising income tax rates, we need to be aware of the negative impact of higher marginal tax rates on the economy and make sure we resist the lure of higher taxes. This is especially important even if the new higher tax rates are confined to to the rich. The concept of marginal tax rates is important to understand, as it holds the key to understanding how we can drive economic growth, and how we can kill it, too. President Barack Obama believes he has already cut taxes in the name of economic…

Jun

By Bob Weeks

Corporate jet incentive, or tax dodge, or kids’ safety?

Yesterday President Barack Obama denounced the tax breaks given to owners of corporate jets. Described by MSNBC Television program host Rachel Maddow as a "corporate tax loophole" that allows "giant corporations to dodge their taxes," Obama cast the issue as corporate fats cat vs. kids: "You go talk to your constituents -- the Republican constituents -- and ask them, are they willing to compromise their kids' safety so that some corporate jet owner continues to get a tax break? (Yes, I sometimes watch the leftist television news programs -- so that you don't have to.) Maddow, if you've ever watched…