Tax Cuts Ubber Alles

Gov Scott Walker (R-WI) of union busting fame, has proposed a budget that would provide $83.3 million in tax cuts “primarily for businesses and investors” and would make up for lost revenue by eliminating tax credits and exemptions that primarily benefit the poor and even some in the middle class. In addition to eliminating these tax credits, Walker also has proposed a spate of new fee increases. The “bulk of the fee increases are for tuition at University of Wisconsin campuses, totaling more than $105 million over two years.”

Wisconsin’s Legislative Fiscal Bureau — the state’s equivalent of the Congressional Budget Office — finds that this would amount to a $49.9 million tax increase on people who receive these credits over the next two years:

Low and middle income people would lose tax credits worth about $49.4 million over two years, the new Legislative Fiscal Bureau report said.

Those affected most by Walker’s proposal would include low-income families who qualify for the earned income tax credit program, and low-income homeowners who receive tax rebates under the homestead tax credit.

We would say this guy is a reverse Robin Hood, robbing from the poor to give to the rich, but we don't want to act as if this isn't the MO of the entire Republican party. It strikes us further that cutting education shows they don't give a rip about investing in the future of this country. All in all it's a recipe for a third world banana republic.