The tax-exempt arm of One Wisconsin Now - - Its Institute - - has published an informative report on state incomes, wealth and fiscal policy that refute the notion that Wisconsin is broke.
You can read it, here.
- In Fighting Bob La Follette's day, corporations paid 70 percent of the state revenues, today it is 6.9 percent and 2/3 of Wisconsin corporations don't even state income taxes. The cuts to the business tax burden of the past 30 years have accompanied a steady drop in American manufacturing jobs and a stagnancy in American wages.
- From the end of WWII to the mid-80s, the top income tax rate in Wisconsin was 10 percent or higher most years, but now it is only 7.75 percent.
- A "Pain Index," based on the percent of a county's median household income goes to pay state and local taxes finds that 15 counties, including Brown, La Crosse, Kenosha, Racine, Eau Claire and Rock Counties, are in "severe pain" because over 13 percent of their median income goes toward state and local taxes. This comes at the same time the burdens for business have fallen, particularly on property taxes.
This is a great time to make a tax-exempt donation to the Institute because a donor has agreed to match contributions up to $50,000 total. So if you donate, say $75, that produces another $75 to make your pact $150.
[Disclaimer: I am an Institute board member.]