Will Recent Changes to Capital Gains Tax Be Rolled Back?
As policymakers contemplate how to create jobs in Wisconsin and how to finance state services and local aid, they might want to take a look at A Capital Idea: Repealing State Tax Breaks for Capital...
View ArticleBudget includes Tax Increase for the Working Poor and Tax Cut for Wealthiest
Governor Walker’s budget would cut the Earned Income Tax Credit (EITC) by $41 million over the biennium, a harsh blow for the states’ struggling low-income families. This proposal stands in stark...
View ArticleAlternatives to Increasing Taxes on the Working Poor
The Joint Finance Committee (JFC) voted Tuesday evening for a package of state policy changes that cut taxes for multistate corporations and the wealthy, while raising taxes on working poor families...
View ArticleAdding to the Deficit – Through Subtraction
Throughout the debate on the budget repair bill and most of the debate on the biennial budget, we have heard lawmakers argue for the importance of sacrifices that will eliminate Wisconsin’s structural...
View ArticleWisconsin’s New Millionaires
A couple of industry-backed studies that have come out over the two months cast Wisconsin in a positive light – as a place to do business and make money. As we discussed in a blog post on April 27, a...
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Capital Gains Tax Cuts Cost Much, Benefit Few
Despite widespread concerns over falling revenues and significant cuts in education, health care, and other areas, the budget passed last week by the Assembly and Senate contains a number of new or...
View ArticleCEO Pay, State and Federal Policies Contribute to Disparities
Quickly growing CEO pay is a significant contributor to income disparity, according to a recent Washington Post article that ran in the Milwaukee Journal Sentinel. Executive pay has increased fourfold...
View ArticleCommittee Considers $27 Million Per Year Tax Cut
The Senate Committee on Public Health, Human Services, and Revenue held a public hearing today on a bill (SB 160) that would reduce state tax collections by an estimated $27 million per year, starting...
View ArticleProposed Changes to Capital Gains Would Change How Much the Best-Off Pay in...
In his State of the Union address, President Obama proposed what many are calling the “Buffett Rule,” which would ensure that taxpayers earning $1 million would pay a minimum of 30 percent of their...
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One Year Later: Big Changes in State Tax Policy
Big Change #2: Corporations and Well-Off Are Paying Less in Taxes, and Working Families are Paying More One year into the state’s two-year budget period, corporations and well-off individuals are...
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Wisconsin Residents Favor Increasing Taxes on Wealthy, Poll Shows, But...
Wisconsin residents strongly favor raising taxes on the wealthy and large corporations to reduce income inequality, a new poll shows. But instead of raising taxes on these groups, Wisconsin lawmakers...
View ArticleBlueprint Lays Framework to Help all Communities in Wisconsin Thrive
In order for Wisconsin remain an attractive place to live and work, the state needs to make investments in a skilled workforce, a strong public education system, and a healthy citizenry. A broad-based...
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Governor Evers’ Improvements to Tax System Would Help Reduce Income Inequality
Governor Evers’ proposed budget includes changes that would reshape Wisconsin’s tax code to give less of an advantage to wealthy and powerful interests, by reining in wasteful tax breaks for the rich...
View ArticleDespite Growing Concerns about Opportunity Zones, Wisconsin Legislators Rush...
As the 2020 legislative session winds down, the Wisconsin Legislature is rushing to pass a bill this week (SB 440)/AB 532) that would double a current state tax break for very wealthy investors who...
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Wisconsin’s Tax Code Includes Loopholes that Let the Wealthy Dodge Taxes, as...
The disclosure that President Trump pays next to nothing in income taxes has highlighted the fact that the federal tax system is stuffed full of loopholes that are only available to the ultra-wealthy....
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