budget surplus Archives - Kansas Policy Institute

Simple Tax Reform Goes a Long Way 0
- Tax & Spending
- March 24, 2022
Much of the grumbling that comes every tax season comes not only from paying the taxes but also from the complexity of how to file them. Services, and the costs, ranging from TurboTax to Certified Public Accountants (CPAs) represent an additional cost to people to properly file their taxes. A simple tax reform that lowers
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High Tax Revenue Continues into December 2021 0
- Tax & Spending
- January 4, 2022
In December 2021, the state of Kansas took in a total tax revenue of $890.3 million, which was 7.8% greater than the estimates for this month. This includes $293.5 million in sales taxes and $550.3 million in income taxes. The revenue collected for December of this year was 15.6% higher than what it was in the
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Tax Expenditure Limits Prevent Government’s Balancing Act 0
- Tax & Spending
- September 17, 2021
Imagine the Kansas budget as a tightrope walker, with taxing and spending on opposite sides of their balancing rod. If the government spends significantly more than it taxes, this leads to deficits and “bust-type” budgeting. Likewise, if the government collects more in taxes than it spends, you end up taking more from taxpayers and get
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budget surplus