Wisconsin
Related: About this forumWalker to propose 'significant' tax cuts
No surprise, while there will probably be a decrease for everyday Wisconsinites, most of it will be towards the top. We will find out details next week, they should be all over the WI media, let's see what ALEC has in store for WI to beta test for a nationwide rollout.
http://www.sheboyganpress.com/viewart/20140115/SHE0101/301150388/Walker-propose-significant-tax-cuts
MADISON Gov. Scott Walker plans to propose significant tax cuts in his State of the State address next week, reductions made possible by tax collections that far exceed earlier estimates, his spokeswoman said Wednesday.
Walker wont reveal details until his speech on Jan. 22, but he is looking at property tax cuts and changing income tax withholding tables to immediately put more money into workers paychecks, his spokeswoman Jocelyn Webster said.
I want all taxpayers to benefit from these surplus dollars, Assembly Speaker Robin Vos said in a statement. He did not specify what Walker may propose.
Senate Majority Leader Scott Fitzgerald said in a statement that lawmakers would work with Walker to cut taxes as well as save some of the surplus. While Vos has been vocal in his support for using any surplus to cut taxes, Fitzgerald has been more cautious, saying some members of his caucus may want to put the money in savings or use it to address infrastructure needs such as road and bridge repairs....
BootinUp
(47,085 posts)Scuba
(53,475 posts)To replace the revenue lost by the income tax, the state sales tax rate would need to be raised to 13.5%, giving Wisconsin the highest state sales tax rate in the nation.
The tax shift endorsed by Governor Walker would mean the bottom 80% of taxpayers would be paying more in taxes some of them, a lot more. For example, a taxpayer in the lowest 20% by income would pay nearly $750 more in taxes, on average. Taxpayers in the top 1% a group with an average income of $1.1 million would receive a tax cut averaging nearly $44,000.