Wednesday, January 25, 2012

Walker Repeating Tax Lie In State Of The State Speech

Walker is a piece of work. As predicted, his State of the State speech mirrors a year of deceit.

Again, according to the Journal Sentinel, he will repeat tonight the falsehood that his budget did not raise taxes - - which it did.

Here is what he is repeating - -

"And we balanced the state budget.  We balanced it -- without raising taxes;"
And here is what PolitiFact wrote:
But what about his 2011-"13 budget?

It included some tax cuts, but also tax increases.

That"s according to the nonpartisan state Legislative Fiscal Bureau, which both parties have long cited as a neutral scorekeeper on budget matters.

The bureau determined that Walker included three tax increases in the budget totaling $49.4 million over the two-year period.

The largest involved a reduction in a state tax credit for low-income working families, known as the earned income credit. A tax credit reduces the amount of tax you owe.

In this case, the earned income tax credit is in place for both state and federal taxes. It"s refundable, so individuals with little or no income tax liability may still receive the credit.

Walker"s plan would decrease the tax credit for families with more than one child, allowing the state to collect an additional $41.3 million in taxes over two years from those families. (The credit would actually go up for families with just one child.)

A second tax increase, the fiscal bureau said, is stopping the inflationary adjustment of the state"s Homestead Tax Credit -- the property tax break that appears as a credit on income tax forms for low-income homeowners and renters. The bureau calculated that change would increase taxes by an estimated $8.1 million.

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