Wisconsin: Experts see no big gain for economy, taxpayers in Scott Walker's budget proposal

[Scuba]

http://host.madison.com/news/local/govt-and-politics/article_0762ae74-7c86-11e2-9175-0019bb2963f4.html

Gov. Scott Walker's proposed income tax cut is likely too small to help individual taxpayers or the Wisconsin economy but could be large enough to harm the state's future fiscal soundness, according to experts reacting Thursday to the governor's 2013-15 budget.

...

The two-year spending plan calls for a state income tax cut averaging $106 for a family of four earning $80,000 a year. That's about $2 per week.

For low-income taxpayers, the cut is even more miserly: An estimated $2 a year for those earning less than $21,000, according to an analysis by the Institute on Taxation and Economic Policy done for the Wisconsin Budget Project. That analysis also showed the wealthiest taxpayers, those earning $374,000 or more, would see a cut of $285.

"The governor has argued that by putting more money in people's hands, the tax cuts will spur economic growth in Wisconsin," said Andrew Reschovsky, a UW-Madison professor of public affairs and applied economics. "There is no evidence that the tax cut will do much to encourage growth and job creation."

On the other hand, corporate investors in New York, London and Tokyo (and Kansas) will do very well under the Governer's (sic) sick plan.

[charmay]

1. I'm not surprised!

I hope that the people in this state wake up and see this idiot for what he really is.

[midnight]

2. Gov. Walker says that putting money into the people's hands will help the economy, but

the people that need it most only get $2.00 a year... Wow... now if you add that to his other incentive for the poor, and that is to buy insurance at $19.00 a month... and it's a no wonder their has been little job creation... Who besides the prison industry want's to set up business in this climate...