Tuesday, May 17, 2011

Having done nothing so far, Republicans claim victory over rising tax collections that would help close state deficit. Yeah, if you ignore the last two years.

Disaster capitalism depends on bad economic policy, which we got from the Republicans, coupled with advancing draconian laws no one in their right mind would pass when times are good.

On the positive end, Democrats have long depended on an economic recovery to start adding tax dollars back into the government coffers.

So what happens when the Democratic plan is starting reap benefits? Promote disaster capitalism, what else.
Mike Ivey, Cap Times: A new report from the nonpartisan Legislative Fiscal Bureau shows that tax collections are running well ahead of initial projections. As a result, Wisconsin could see an additional $636 million in revenues over the next three years, helping to close an estimated $3 billion budget deficit. 
The rise in revenues is due mainly to higher income tax collections due to a booming stock market in 2009 and more business owners filing as individuals, the fiscal bureau said.
Can you imagine the revenues if we had a higher tax rate for the wealthy? In fact, we would be even better off if corporations paid their fair share.
Corporate and sales tax collections are actually coming in lower than predicted.
Heading down the Republican rabbit hole, Rep. Scott Suder turned the good news inside out:
Assembly Majority Leader Scott Suder (said) “These numbers lend proof to what we've been saying all along, which is that we can grow our way out of this deficit instead of trying hopelessly to tax and spend our way to prosperity," he says. 
Nice grouping of clich├ęs Scott, that ignores how much Obama spent the last two years preventing a depression. Oh, was that on purpose? Here's a more honest look at the recovery:
Rep. Mark Pocan, D-Madison, took a different tack, calling on Republicans to now reject Gov. Scott Walker's "draconian gutting of SeniorCare, replace some of Walker's devastating cuts to public education and roll back Walker's job-killing $250 million in cuts to the UW Ssytem." Pocan also called the additional revenue a "gift from the Democratic majority from the last budget," saying the additional revenue is the result of a move by the Joint Finance Committee to cut an additional $1.6 billion out of former Gov. Jim Doyle's budget.
For a Republican majority that has basically done nothing so far, they sure have improved the economy. 

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