In the printed version of WSJ under the label "Tax Reform" the Wisconsin State Journal headlines "Gov. Walker eyes more cuts". The subtitle "His administration is exploring the idea of eliminating income tax while raising sales taxes in Wisconsin".
I don't know whether this is just another trial ballon or just an illustration of Governor Walker continuing to pander to the elites and 1%.
Who would such a change harm or have the greatest impact on.
- Middle and low-income families.
- Those living on fixed incomes, i.e., pensions, Social Security, et al, (double whammy).
- Those generally living in rural counties and communities
All social security benefits that are taxable for federal purposes. Up to 85% of social security benefits are subject to federal tax, but Wisconsin does not tax social security benefits. For taxable years beginning in 2008 or after, all federally taxable social security benefits are allowed as a subtraction. page 5 of report in the link
Income tax in this state is mildly "progressive" which means the more you earn you pay at a higher tax rate by brackets. Everybody pays on earned income at the low end.
I will probably add to my comments and observations as this "topic" continues to evolve.
#Elites #1% #WI 1848 Forward: #Walker 's War on the #Elderly, Rural, Middle Income and Poor of #Wis - Raise #SalesTax
#Elites #1% #Walker 's War #WI 1848 Forward: on the #Elderly, Rural, Middle Income and Poor of #Wis - Raise #SalesTax