Wednesday, July 31, 2013

About That Awesome Walker/Wisconsin Income Tax Cut...

Despite the hoopla and Hosannas from libertarian ideologues and harder-edged Tea Partying government-haters, the presidential-dreaming Walker state income tax cut is so small per capita that it only puts an extra $87 a year - - less than seven extra quarters a week - - into the pockets of Wisconsin workers who make $45,000 a year.

I'm told a nice bottle of beer at Lambeau Field or Miller Park is now in the $8 range, making the Walker tax cut something of a flat event, fiscally-speaking.

The kicker in all this: the geniuses in Walker's administration chose not to do the detail work needed to make the cut automatic with the recent state budget approval, so people won't see their windfall until 2014.

Walker regime M.O. - - talking points and press releases first, details later.

More, here.


Anonymous said...

If I'm reading this correct, you are upset that the tax cut was not larger?

zombie rotten mcdonald said...

No, the point is that the tax cut is being MISREPRESENTED. More of Walker's prevarications for Politifact to score.

In addition, the opportunity cost of that tax cut, in lost services and beneficial effects on Wisconsinites in general is far larger than the infinitesimal bump to any economy that the couple of extra bucks would bring.

Of course, also concealed is that the vast majority of the tax cuts go to the wealthiest people, who extract the money from the economy (and contrary to the 'accepted wisdom of Wingnut Radio, it is NOT used to create jobs).

Anonymous said...

The wealthiest people also pay the most taxes, which is why they get the vast majority of the cuts.

There is never anything wrong with letting people keep more of their own money.

Let me know when you notice a service cut from this tax break... Just like sequestration was going to cripple our country too, right?

Anonymous said...

To 3:23 Anon:

Try being poor and reliant on SNAP or WIC to feed your family or LIHEAP to heat your home in the winter or public transit to get to your job. Just because well-off white people might not notice a difference from all these cuts doesn't mean they aren't impacting vulnerable populations who are barely getting by as it is.

Oh, right, all of that isn't "services" but "dependencies" or "entitlements" or whatever the racist/classist scare word of the day is and they should just bootstrap themselves into non-existent jobs.

Also, everyone who still thinks the wealthy benefit more from tax cuts should read up on the marginal utility of money.

zombie rotten mcdonald said...

There is never anything wrong with letting people keep more of their own money.

There is even less wrong with asking the ones who have benefited most from the country's services and infrastructure to pay a fair share and allow for others to benefit from the same advantages, rather than pull the rung up.

Also, contributing to the success of the rest of the country helps those wealthy idiots to become even more wealthy. It's better for them than a short-sighted tax cut, in reality.

zombie rotten mcdonald said...

Anon @3:23, why so subservient? The wealthy would kneecap you just as soon as they would anyone else, don't kid yourself. They would drive over your dog to make two dollars, and then back over him again for an extra 50 cents.

Jake formerly of the LP said...

I assume anon 3:23 meant to say "thinks the wealthy DON'T benefit more..." I'm not thinking that guy backs the feudal Walker tax cuts.

Anonymous said...

Isn't it interesting that in Obama's America, the rich are getting richer and the poor are getting poorer?

Stock market is surging, housing is coming back and there are more people on welfare and food stamps than ever.

Great job Obama!

Jake formerly of the LP said...

Not bad for a socialist Keynan, huh? Funny how these things happen when the rich continue to be taxed at low rates and unions are allowed to be weakened.