Wednesday, June 1, 2011

Tax Increase for the Poor gets Bigger, so Multistate corporations and investors are lured into job creation with reduced taxes.

You have to wonder why a voter would ever elect another Republican into office, after this behavior disorder became more apparent. 

jsonline: Republican lawmakers voted Tuesday to trim taxes for corporations and investors while further cutting tax credit programs for the working poor. Rep. Tamara Grigsby (D-Milwaukee) called the committee's action to cut the Earned Income Tax Credit for low-income workers "Robin Hood in reverse."
But getting rid of a tax credit means an increase in taxes, something Republicans have pledged never to do…to the wealthy. And just to rub it in, Republicans said the working poor’s tax credit was too “generous?”

But Republicans said the state tax credit program was generous and that changes needed to be made to ensure the state balanced a $3 billion budget deficit over the next two years and still gave businesses incentives to create jobs.
Oh sure, that’ll happen, businesses will start creating jobs now that the Earned Income Tax Credit is cut-big time.

The cuts to the earned income credit would total $56.2 million over two years, $12.7 million more than the cuts proposed by Walker. The Legislative Fiscal Bureau has described Walker's proposal as a state income tax increase.
I didn't think it could ever happen, but Republicans just explained away a tax increase to the least among us. They’re coming for you next, and you’ll love the reason they've come up with…

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