Taxpayers pay more taxes, not less, with Republican budget give-a-way to business

Isn’t it amazing to learn the party that promised tax relief is actually raising taxes now, and in the future, without a whimper in the media or by conservative think tanks? Are they afraid to criticize their own?

Yes. Check out the following provided by State Representative Terese Berceau, June 6^th. Pretty close to the final shape of the budget bill.

Here is a quick list of provisions in the current version of the budget, organized by issue area.

Taxes & Borrowing

·         Increases taxes on middle class families by nearly $69.8 million

o    Increases property taxes on seniors and working families by $13.6 million by reducing the Homestead Tax Credit, affecting 247,000 homeowners and renters

o    Raises taxes on low-wage workers with children by $56.2 million as a result of cuts to the Earned Income Tax Credit

·         Reopens corporate tax loopholes that will cost the state $93.8 million and will allow big multi-state corporations and wealthy investors to avoid paying taxes

o    Over the next 10 years, when fully implemented, these tax cuts will reduce revenue by over $1.3 billion, shifting even more of the tax burden onto working families and increasing property taxes

·         Borrows $1.8 billion to fund projects and uses questionable accounting gimmicks to delay debt payments, which will force the state to pay millions in additional interest

·         Doesn’t address the cost of the ten or so lawsuits that are likely to result from this budget

·         Fails to account for lost tax revenue that will surely result from individuals and businesses altering their actions due to this devastating budget

See the complete surreal list HERE at Defend Wisconsin!!!! The thing is, what voters might see on paper or their computer monitors won't really sink in until they're personally effected by the eventual changes. In the meantime, Fitzwalkerstan officials will try to get as much mileage out of their projected budget surplus before the real impact is felt.