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Walker proposes more tax breaks for the rich

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Walker proposes more tax breaks for the rich

Postby Henry Vilas » Sat Dec 21, 2013 10:19 am

While those less affluent will be paying more.

Income tax elimination would benefit wealthy, cost low earners

An increase in the sales tax would make up the difference. And that disproportionally socks it to those who make less than a hundred thou a year.
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Re: Walker proposes more tax breaks for the rich

Postby kurt_w » Sat Dec 21, 2013 11:41 am

Bobby Jindal proposed something like that in Louisiana. It was a disaster. He eventually pulled the plug after his own approval ratings sank into the basement.
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Re: Walker proposes more tax breaks for the rich

Postby snoqueen » Sat Dec 21, 2013 11:59 am

This is a test.

Now we get to find out whether the people in Louisiana are better-informed and better-educated than the people in Wisconsin.

And speaking of Scott Walker -- though on another issue -- he's made the LA Times. And not in a good way:

http://www.latimes.com/nation/nationnow ... z2o7RI6Zng

There is getting to be something really weird about his ears.
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Re: Walker proposes more tax breaks for the rich

Postby HawkHead » Sat Dec 21, 2013 12:44 pm

kurt_w wrote:Bobby Jindal proposed something like that in Louisiana. It was a disaster. He eventually pulled the plug after his own approval ratings sank into the basement.


Funny thing happened to me yesterday. One of my most conservative clients was at my office doing year-end tax planning. He actually brought the issue up about the elimination of the income tax. To my surprise he was completely against the idea, he said that was too much and affected the poor unfairly.

Honestly, I couldn't believe that he said that. If the Rs are losing their base, white males who make $150,000+ on this issue I don't think it will fly.
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Re: Walker proposes more tax breaks for the rich

Postby green union terrace chair » Sat Dec 21, 2013 1:25 pm

If you want to reduce taxes in order to stimulate the economy, eliminate the corporate income tax. That will have the effect of reducing the cost of doing business, attracting new businesses and making the cost of hiring new employees decrease.

I agree that replacing the state income tax with increased sales tax is a bad idea. Not only because of the impact on the poor, but consider the impact on businesses who would effectively see their prices increase. Sales tax is a huge impediment to growth.

I had always believed that Walker was sincere in wanting to grow Wisconsin's economy, but that he was too incompetent to come up with effective ideas. This proposal really takes the cake and makes me think for the first time that he really does have another agenda.
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Re: Walker proposes more tax breaks for the rich

Postby gargantua » Sat Dec 21, 2013 1:48 pm

I hope Burke does something bold like propose reducing the sales tax and funding it with increased income tax revenue from a higher tax rate on income above $700,000 annually.

There are also some services not subject to the sales tax currently that should be looked at.
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Re: Walker proposes more tax breaks for the rich

Postby fennel » Sat Dec 21, 2013 1:53 pm

green union terrace chair wrote:This proposal really takes the cake and makes me think for the first time that he really does have another agenda.
Every train needs a caboose.
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Re: Walker proposes more tax breaks for the rich

Postby bdog » Sat Dec 21, 2013 1:55 pm

“Once again Governor Walker is floating the most extreme, anti-middle class policies possible so he can propose a marginally less anti-middle-class policy and appear moderate,” said Senate minority leader Chris Larson, D-Milwaukee.


Larson gets it. Walker has no intention of eliminating the income tax. In psychology this is known as the "get the door slammed in your face" technique.
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Re: Walker proposes more tax breaks for the rich

Postby fisticuffs » Tue Dec 31, 2013 9:20 am

My local economy is going to do great when I start buying everything out of state to avoid the insane sales taxes.
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Re: Walker proposes more tax breaks for the rich

Postby HawkHead » Tue Dec 31, 2013 1:14 pm

fisticuffs wrote:My local economy is going to do great when I start buying everything out of state to avoid the insane sales taxes.


pssst .... fisticuffs, you need to report that on line 35 of your WI Form 1 income tax return.
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Re: Walker proposes more tax breaks for the rich

Postby fisticuffs » Tue Dec 31, 2013 1:31 pm

HawkHead wrote:
fisticuffs wrote:My local economy is going to do great when I start buying everything out of state to avoid the insane sales taxes.


pssst .... fisticuffs, you need to report that on line 35 of your WI Form 1 income tax return.


I'm aware of that. In fact I think I've had to explain that to people at least 3 dozen times. Fact is though it's very rarely enforced and I doubt the Governor has any intention of spending money on government employees to change that. Although I could see him finding some way to farm the work out to a campaign donor's company for twice the cost.
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Re: Walker proposes more tax breaks for the rich

Postby HawkHead » Tue Dec 31, 2013 1:38 pm

fisticuffs wrote:
HawkHead wrote:
fisticuffs wrote:My local economy is going to do great when I start buying everything out of state to avoid the insane sales taxes.


pssst .... fisticuffs, you need to report that on line 35 of your WI Form 1 income tax return.


I'm aware of that. In fact I think I've had to explain that to people at least 3 dozen times. Fact is though it's very rarely enforced and I doubt the Governor has any intention of spending money on government employees to change that. Although I could see him finding some way to farm the work out to a campaign donor's company for twice the cost.


I have had several clients that have been audited specifically for sales tax on internet purchases.
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Re: Walker proposes more tax breaks for the rich

Postby Henry Vilas » Thu Jan 16, 2014 1:36 pm

Walker continues to talk about large cuts in Wisconsin income tax and local property taxes. Just how he plans to do that and who would be affected are the big questions. Property taxes go mainly to support public schools. When he first was elected, Walker cut nearly a billion dollars in state aid for public education. Will be restore those cuts (thus allowing local taxing districts to reduce property taxes)? Where will that money come from if he also plans to reduce the income tax?

The devil is in the details.
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Re: Walker proposes more tax breaks for the rich

Postby Henry Vilas » Thu Feb 06, 2014 3:10 pm

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