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Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy

#1113 Tax cuts and deregulation have failed before and will fail again

Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy

Jay Tomlinson

Politics, News, News Commentary

4.53.4K Ratings

🗓️ 20 June 2017

⏱️ 77 minutes

🧾️ Download transcript

Summary

Air Date: 06/20/2017

Today we take a look at the legacy of conservative economics in Kansas, the new federal budget being pushed that would echo the Kansas disaster, deregulation that will cost citizens billions and the intellectual underpinning of modern conservative philosophy that is driving all this

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Show Notes

Ch. 1: Opening Theme: A Fond Farewell - From a Basement On the Hill

Ch. 2: Act 1: Conservatism is failing from Topeka to Tulsa to the River Thames - Bradcast from @TheBradBlog - Air Date 6-9-17

Ch. 3: Song 1: Dust in the Wind - Kansas


Ch. 4: Act 2: A billionaire perspective on Trump's budget - The Other Washington - Air Date 6-1-17

Ch. 5: Song 2: Turtle (Bonobo Remix) - Pilote


Ch. 6: Act 3: Republicans Repeal Disastrous Tax Cuts - @theyoungturks - Air Date 06-11-17

Ch. 7: Song 3: Lesson Learned (feat. John Mayer) - Alicia Keys


Ch. 8: Act 4: Roll-Back of Financial Regulations Has Nothing to do with Complexity or Boosting the Economy - @TheRealNews - Air Date 6-13-17

Ch. 9: Song 4: Ennio 08-08 - Silence Is Sexy


Ch. 10: Act 5: Stop Republicans from Deregulating Wall Street & #DefendCFPB via @RealBankReform - Best of the Left Activism

Ch. 11: Song 5: This fickle world - Theo Bard


Ch. 12: Act 6: Nancy MacLean on the intellectual underpinning of a “mean” Republican Party - Who What Why - Air Date 6-16-17


Voicemails

Ch. 13: Russia - Alan from Connecticut

Ch. 14: Interested in hearing about the Draft Bernie movement - Ahmed from the Bronx, NY

Ch. 15: A rumination on freedom of speech - Dave from Olympia, WA

Voicemail Music: Loud Pipes - Classics


Ch. 16: Final comments in response to Nathan from Vancouver, WA on free speech

Closing Music: Here We Are - Everyone's in Everyone


Activism:

TAKE ACTION

Hold Congress accountable for the "Financial CHOICE Act" (H.R. 10) via Americans for Financial Reform

Explore Americans for Financial Reform's website

Follow Americans for Financial Reform on Twitter @RealBankReform

Engage with the campaign through the hashtags #WrongCHOICEAct and #DefendCFPB

EDUCATE YOURSELF

Letter to Congress: Oppose H.R. 10 – The Wall Street’s CHOICE Act Would Devastate Financial Regulation (Americans for Financial Reform)

What They Want to Hide Tells You Who They Are (Bill Moyers)

Trump Administration Says Financial Watchdog Agency Should Be Defanged (New York Times)

The Choice Act is Not a Community Banking Bill (American Banker, Op-ed)

Bill to Erase Some Dodd-Frank Banking Rules Passes in House (New York Times)

Written by BOTL Communications Director, Amanda Hoffman


Produced by Jay! Tomlinson

Thanks for listening!

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Transcript

Click on a timestamp to play from that location

0:00.0

We don't need to go down that road. We can learn ahead of time from Kansas's example and make sure that it doesn't happen in the first place.

0:07.0

This should be a learning experience, not just for Kansas, but for all of us.

0:17.0

This program is made possible by the members and donors to the show.

0:20.0

To support the work we do, get commercial free versions of every episode and occasional members only bonus content to visit the Contribute tab at BestOfALeft.com.

0:28.0

Welcome to the award-winning BestOfALeft podcast with Clips Today from the broadcast, the other Washington, the Young Turks, the Real News Network, and who would why?

0:39.0

The World's Best OfALeft is a new program.

0:45.0

Conservatism itself or what now passes for conservative policies, conservative ideology, which now pretty much amounts to huge tax cuts for businesses and the wealthy and austerity for everybody else.

1:01.0

In the meantime, in places around the country where these practices have been put in place, it is failing miserably.

1:11.0

The poster child for this failure really has been Kansas now for several years.

1:17.0

And the pushback really came hard over this past week as Kansas legislators on Tuesday repudiated the tax cutting experiment that brought Republican governor Sam Brownback national attention with even his fellow Republicans voting to override his veto of a plan that will reverse many of the income tax reductions that he has championed over the past several years.

1:48.0

Lawmaker said that this was the only way to fix the cash strapped states budget.

1:55.0

The state will increase the personal income tax rates and end an exemption for more than 330,000 farmers and business owners.

2:05.0

Legislators expect the changes to raise $1.2 billion in new revenue over the next two years to close the projected budget shortfalls, totaling almost $1 billion through June of 2019 and it will also provide additional funds for public schools.

2:24.0

So these, you know, they cut taxes. We got to help the economy.

2:28.0

It's for the economy.

2:31.0

It kills the economy and it leads to cuts, huge cuts and austerity. And in this case, particularly to schools.

2:39.0

The conservative Republican governor still touts these income tax cuts that he enacted way back in 2012 and 2013 as pro growth policies, but voters decided otherwise last year they ousted two dozen of Brownbacks allies from the legislature and gave more power to Democrats and moderate Republicans.

3:00.0

Who then backed this year's tax increase the legislature's action leaves Brownbacks main political legacy now in tatters according to AP Senate majority leader Jim Denning a conservative Kansas, Kansas City area Republican.

3:17.0

He supported the first rounds of tax cuts back in 2012, but he over voted to override the veto.

3:24.0

He said he's still that that Brownbacks still believes you repeated still believes in this.

3:31.0

That's okay. I don't. He said I've made many bad decisions in my business career as many bad as good, but I've always backed up and mopped up my mess.

3:41.0

That's what I'm doing now. He's admitting he got it wrong and he's mopping up the mess. So good for him.

...

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