• About
  • The Poetry of Protest

Show Me Progress

~ covering government and politics in Missouri – since 2007

Show Me Progress

Tag Archives: Forbes Magazine

A case study in rightwing mendacity

29 Tuesday Oct 2013

Posted by Michael Bersin in Uncategorized

≈ Leave a comment

Tags

Economic Growth, Forbes Magazine, Kansas, missouri, Rex Sinquefield, Sam Brownback, tax cuts, Tax policy

When I recently wrote about the Missouri GOP’s stubborn attempt to render unto Rex Sinquefield what – by virtue of his checkbook – is Rex Sinquefield’s, namely one more dreary iteration of their efforts to reduce or eliminate taxes for the wealthy, I also noted that a similar experiment seemed to be tanking in Kansas – even to such an extent that the popularity of Kansas GOP Governor Sam Brownbeck was in the pits.

Imagine, then, my amazement, when I learned via an opinion piece in The Kansas City Star that there are folks that think Kansas is in exemplary shape. None other than Missouri’s ever-generous billionaire, Rex Sinquefield, seems to have informed readers of Forbes Magazine that “a close look at the data backs up the economic projections of Brownback’s visionary leadership.”

So who’s right? Me? Or Rex Snquefield? The Star‘s contributing author, I’m happy to say, backs up my contentions about the state of Kansas, pointing out that, contrary to Sinquefield’s claims, the state’s economy is “tracking most of the rest of the nation” with “no discernable jolt upward.”

What interests me, though, is the way that Mr. Sinquefield, borrowing a tactic from so many movers and shakers on the right, takes a kernel of truth and by either twisting it or ignoring other equally relevant facts, begins to run a premature victory lap  – with a view to taking a similar lope around the track in Missouri once his pets in the legislature enact his long-sought after rich-man’s tax cut. Not for nothing was his Forbes article titled “How Kansas Governor Brownback Schooled Missouri On Tax Cuts, And Showed The Region How To Grow.”

Mr. Sinquefield asserts that “lower income tax rates have in fact stimulated the economy by reducing the price both of work and conducting business in the state.” Half true. The cost of work – what people get paid – did decrease. A Center for Tax Policy report cites “Bureau of Labor statistics that showed Kansas was one of 20 states where inflation-adjusted average weekly earnings of private employees decreased between May 2012 and last May.” This fact fits well with other reports that document conistent increases during Brownback’s tenure in the number of Kansans living in poverty.

What’s not so true is the part about lower income tax rates stimulating the economy. While some business organizations have upped Kansas “business-friendly” type of rating, based mostly on government policies rather than results, recent economic reports aren’t so glowing:

… another report shows Kansas lagging most states in economic growth from February to May and predicted it will trail in the next six months.

“Most states improved over the past quarter; only Alaska, Kansas, Nevada, Wisconsin, and Wyoming experienced declines,” said the State Economic Monitor report by the Tax Policy Center, which provides independent analyses of tax issues.

The report cited an economic growth measure produced by the Federal Reserve Bank of Philadelphia that combines non-farm employment, average manufacturing hours worked, the state’s unemployment rate and real wages.

The Philadelphia Fed also produces an index that measures future economic activity for six months, and again Kansas was among the bottom states.

If  you’re interested in going into Mr. Sinquefield’s claims in greater detail, you might be enlightened by what he fails to tell us, for instance, about the unemployment rate in Kansas. He reports correctly that Kansas unemployment fell from 7% in 2011 when Brownback took office to 5.8%, a decline of 1.2 percentage points. Not so spectacular, however, when you consider that during the same period, Missouri’s unemployment rate fell 2.1 percentage points. Apart from the fact that the Kansas jobless rate is actually currently 5.9%, what Sinquefield also fails to tell us is that the Kansas number reflects an increase in unemployment, from 5.5% in January. This loss of jobs occurred during a time that saw national unemployment numbers decreasing from 7.9% to 7.3%.

I don’t know about you, but when I took a closer look at Mr. Sinquefield’s claims and did a little research, I still wasn’t too impressed with Kansas’ economic growth record over the past couple of years. I will admit, though, that if I were naively reading Sinquefield’s Forbes encomium to Governor Brownback, I might think that he was on to something. Which takes us back to those polls that show Brownback tanking in Kansas. One lesson that one can draw from Mr. Brownback’s fall from popular grace is that folks learn from experience. Another lesson, though, seeks to account for the 30-some percent who still approve of his performance – and goes to show that if you jigger the numbers skillfully enough, you actually can fool some of the people all of the time.

Recent Posts

  • Fascist pig
  • Still a felon
  • Passing the gas – Donald Trump (r) does his thing
  • Who checks? You, Eric?
  • Just here for the ratio

Recent Comments

Steve Duane Phipps on Profit!
The price we all pay… on “Up, Up and Away……
HB 2075: Who checks?… on Hey Brandon Phelps (r), we hea…
Campaign Finance: a… on Campaign Finance: Working Peop…
The mail pieces have… on Are you certain it wasn’…

Archives

  • March 2026
  • February 2026
  • January 2026
  • December 2025
  • November 2025
  • October 2025
  • September 2025
  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • July 2008
  • June 2008
  • May 2008
  • April 2008
  • March 2008
  • February 2008
  • January 2008
  • December 2007
  • November 2007
  • October 2007
  • September 2007
  • August 2007

Categories

  • campaign finance
  • Claire McCaskill
  • Congress
  • Democratic Party News
  • Eric Schmitt
  • Healthcare
  • Hillary Clinton
  • Interview
  • Jason Smith
  • Josh Hawley
  • Mark Alford
  • media criticism
  • meta
  • Missouri General Assembly
  • Missouri Governor
  • Missouri House
  • Missouri Senate
  • Resist
  • Roy Blunt
  • social media
  • Standing Rock
  • Town Hall
  • Uncategorized
  • US Senate

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Blogroll

  • Balloon Juice
  • Crooks and Liars
  • Digby
  • I Spy With My Little Eye
  • Lawyers, Guns, and Money
  • No More Mister Nice Blog
  • The Great Orange Satan
  • Washington Monthly
  • Yael Abouhalkah

Donate to Show Me Progress via PayPal

Your modest support helps keep the lights on. Click on the button:

Blog Stats

  • 1,034,674 hits

Powered by WordPress.com.

 

Loading Comments...