Posted by AzBlueMeanie:
Oh, geezuz… I have previously explained how 20 years of GOP tax cuts have created a structural revenue deficit hole in Arizona that cannot be filled by "magical" belief in faith based supply-side "trickle down" GOP economics. This entirely disproved and discredited economic theory does not work and has never worked. The First Rule of Holes: "The first rule of holes: when you're in one, stop digging." – Molly Ivins.
Yet last year our Tea-Publican legislature passed in a Special Session what was laughingly labeled a "jobs bill" — it was, in fact a corporate welfare tax-giveaway plan. The GOP's double dose of poison to kill Arizona:
Senate Bill 1001 is filled with tax breaks and incentives for businesses large and small. The legislative budget office estimated its cost at $538 million by 2018 [worsening Arizona's structural revenue deficit], when all the tax cuts are phased in.
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Brewer's advisors acknowledged that there is no guarantee the changes would yield enough new investment and jobs to offset the anticipated revenue loss.
These corporate welfare tax cuts are delayed until May 2013 when the temporary sales tax will expire. These prospective tax cuts have not created one job, making the "jobs bill" label a sick joke. When the corporate welfare tax cuts do take effect, it will dig the structural revenue deficit hole even deeper.
But wait, it gets worse. Yesterday our Tea-Publican legislature debated three bills designed to give the so-called "job creators" of the investor class a huge tax break — reducing or even eliminating the capital gains tax — again based upon the "magical" belief in faith based supply-side "trickle down" GOP economics.
And once again it was the "geniuses" (the man's T-shirt in the photo reads "I have nothing to declare except my genius") of the Goldwater Institute promoting this entirely disproved and discredited economic theory that does not work and has never worked.