Tuesday, February 27, 2018

Business Tax Cuts Raising Homeowner Taxes, plus Trump Trade Reform makes for "Tough Economy" and possible Lowest Net Farm Income since 2006!

Scott Walker's version of success with better times ahead is basically wishful thinking that passes as Bizarro World truth...and that's never good, as you can see by their code...

The Trump economy, and ongoing trade talks, have been a big help...?
The U.S. Department of Agriculture projected the country's net farm income to be $59.5 billion in 2018, a 6.7 percent decrease from 2017's forecast … the fifth year of lower income levels after a record high in 2013 (Obama) at $123.8 billion. If the forecast is accurate, this year will have the lowest U.S. net farm income since 2006.

Paul Mitchell, professor of agricultural at the UW Madison, said “There's uncertainty about trade and that creates some issues." Darin Von Ruden, president of the Wisconsin Farmers Union …  said he’s also heard stories of lenders making exceptions due to the tough economy.
Yes, these little comments have a tendency to slip out from time to time.

Walker, Tax Cutting Governor? Sorry, Wisconsin's Open for Business, not You:

JS: Larry Squires annual property tax bill in December (went) up nearly 14 percent, an increase of more than $260. “I definitely wasn’t happy about it,” Squires said. Neither were many of Manawa's roughly 1,300 residents.

Mayor John Smith said a key reason: Property taxes on the largest employer in town, Sturm Foods, went down … by nearly $10 million last year. “The rest of us taxpayers are going to pay the penalty,” Squires said. Sturm Foods employs nearly as many people as there are city residents. 

In Manawa, where "It's very much a trickle-down effect,” said O’Brien, whose personal property taxes went up by more than $500. “Ultimately it trickles down to the taxpayers."
Corporate Personhood devoid of Social Responsibility: Yup, we’re so grateful to be in their presence, we'll let them take money from our schools:
Manawa had to refund Sturm more than $100,000 for taxes the company asserted it overpaid. The Manawa School District also had to reimburse Sturm more than $83,000 as a result of the settlement, according to Carmen O'Brien, the district’s business manager.
The GOP tips "balance" to Business: None of this is new, Democrats have been saying this for years. But Republicans have re-framed their arguments to mean liberals are anti-business.  
Manufacturers in Wisconsin have erased at least $150 million in taxable value on their plants over the last five years, a USA TODAY NETWORK-Wisconsin analysis has found.

One paper company cut its taxable value by more than $13 million in the Fox Valley and central and northern Wisconsin. Another paper company won a big tax cut and then announced plans to shut down local plants and cut hundreds of jobs. The efforts by manufacturers parallel those of big-box retailers. 

Such action often means homeowners and other property owners have to pay more as local governments seek to make up for the lost tax revenue … 136 companies obtained reduced assessments around the state between 2012 and 2016. Among the largest losers:

Manufacturers in Milwaukee County reduced their assessed values by more than $18 million, the most of any county. Outagamie County is losing $14.5 million. Brown County lost more than $11 million, while Sheboygan County lost $7 million and Manitowoc County lost $4.7 million. Oneida County lost nearly $4.5 million and Marathon County lost more than $2.5 million in taxable property. Expera Specialty Solutions secured one of the biggest cuts … of its paper mills in Kaukauna, De Pere, Mosinee and Rhinelander by a combined $13.6 million.

Small towns may feel the effects more acutely than bigger cities …

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