Kansas or California? By LAURA TYSON & LENNY MENDONCA
LAURA TYSON & LENNY MENDONCA note:
“Countless
international, national, and state comparisons have demonstrated overwhelmingly
that trickle-down economics is a regressive fantasy. The latest evidence of
this comes from Kansas, where tax cuts signed by Governor Sam Brownback in 2012
have utterly failed to deliver growth.
Before making the same
costly mistake, Trump should take a lesson from California – a progressive
state that he loves to hate. California raised taxes for top earners in 2012
and has since enjoyed one of the strongest growth rates in the country. And
now, California is significantly expanding its earned income tax credit,
CalEITC, building on the proven record of the federal earned income tax credit
(EITC).”